Ecosecurities, a leading global climate solutions company leveraging the power of nature, technology and finance to accelerate global decarbonisation efforts, and the Kenya Private Sector Association (KEPSA), the leading membership organisation for the private sector in Kenya, have signed a strategic partnership agreement.
This collaboration aims to increase the accessibility and mobilisation of catalytic carbon and climate finance, supporting businesses operating in Kenya and the wider African continent in transitioning to low-carbon, climate-smart economic development.
Kenya has demonstrated its commitment to a low-carbon and climate-resilient future, with the government committing to a 32% reduction in carbon emissions by 2030 and the recent introduction of the Kenya Climate Change Act Amendment in September 2023 and Climate Change Carbon Markets Regulations in 2024.
There is considerable potential for Kenya to utilise carbon finance to accelerate decarbonisation efforts and enable sectors such as clean energy and climate-smart agriculture to grow, generating new sustainable economic opportunities for the country.
The collaboration between KEPSA and ecosecurities will ensure that private sector companies working in critical sectors such as heavy industry, transport, waste, energy and agriculture can access carbon finance via the rapidly evolving Article 6 and voluntary carbon markets. This will provide a much needed alternative source of financing for the region.
Key focus areas of the partnership include:
• Promoting the catalytic role of carbon finance and Article 6 in supporting sustainable development and a low-carbon transition across Kenya’s private sector.
• Developing an effective carbon finance strategy to support the large-scale mobilisation of this alternative finance source for KEPSA’s members.
• Facilitating comprehensive public and private sector dialogue to ensure carbon markets are effective for accelerating on-the-ground decarbonisation activities across diverse sectors. • Working with KEPSA members to identify, develop, and build a robust pipeline of carbon projects across various industries to help achieve the country’s climate goals.
Relevant: SK & Shinhan Invest In Global Carbon Market Player Ecosecurities
“We are thrilled to partner with ecosecurities as our preferred carbon asset management partner to unlock the transformative potential of carbon finance in Kenya. This collaboration will empower our private sector to harness carbon markets effectively, fostering sustainable economic growth and help us meet our climate commitments,” said Carole Kariuki, CEO, KEPSA.
“This collaboration with KEPSA will help unlock the catalysing potential of climate and carbon finance in Kenya to deliver on the country’s ambitious climate commitments. As part of one of Africa’s largest
economies, with a vibrant and diverse private sector, our work with KEPSA will be instrumental in enabling Kenyan businesses to leverage the full potential of the carbon markets in a way that will deliver sustainable economic development and transformational finance that will benefit people and planet,” said Pablo Fernandez, CEO, ecosecurities.
Read more: Kenya Is First African Nation To Build REDD+ Project Registry
