KenGen Appointed to Shape Kenya’s Carbon Market Framework

KenGen's leadership in shaping Kenya's carbon market framework to boost climate action and carbon credit generation. Image Credit : Kengen

The Cabinet Secretary for Environment, Climate Change, and Forestry appointed Kenya Electricity Generating Company PLC (KenGen) to the Multi-Sectoral Technical Committee (MSTC), a pivotal team responsible for developing Kenya’s carbon market framework. Cabinet Secretary for Environment, Climate Change, and Forestry, Hon. Aden Duale, announced this three-year appointment effective November 22, 2024.

KenGen’s appointment positions it as a leader in Kenya’s climate action, driving carbon markets and advancing African carbon trading.

Peter Njenga, KenGen’s Managing Director and CEO said, "We are honored to join this climate-positive committee, which will a key role in advancing the climate agenda not just in Kenya but across Africa. KenGen’s extensive experience in renewable energy and carbon credit generation uniquely positions us to provide valuable insights and help shape a robust carbon market framework for Kenya."

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Driving Kenya’s Carbon Economy Forward

The Climate Change Act of 2013 and the new 2024 Carbon Markets Regulations set up a framework to manage carbon projects and enable participation in carbon markets, making the appointment possible. This initiative will drive the growth of Kenya's carbon economy, allowing the country to generate revenue from carbon credit sales.

KenGen has earned 6.9 million carbon credits from six Clean Development Mechanism (CDM) projects registered with the UNFCCC. The company is spearheading projects such as the Olkaria II Geothermal Expansion, the Tana Hydro Power Station redevelopment, and the Ngong Wind Project.

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A Strategic Step for Kenya’s Carbon Market

The MSTC, consisting of experts from government ministries, counties, and agencies, guides NEMA in evaluating carbon projects. This will help align Kenya’s carbon market with global climate standards while promoting local innovation and expertise.

KenGen’s appointment supports its broader strategy of promoting renewable energy. KenGen generates over 90% of electricity from clean sources, aiming to boost Kenya's global climate action through MSTC expertise.