S&P Global Commodity Insights announced its selection by Conservation International on behalf of the Kenyan government.
As part of this arrangement, S&P will work with Kenya to support the nation’s climate goals and the global carbon-reduction community by developing the country’s Reducing Emissions from Deforestation and Forest Degradation (REDD+) register.
The goal of Conservation International’s collaboration with S&P is to advance sustainable resource management to combat poverty, climate change, and biodiversity loss.
Kenya will utilize the register to track carbon credits produced by associated initiatives, such as sustainable forest management and conservation, as part of its commitment to decreasing deforestation and forest degradation emissions through REDD+.
By 2025’s second quarter, the REDD+ register is expected to function completely.
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Psamson Nzioki, Programme Manager, Jurisdictional and Nested REDD+ at Conservation International, said, “This is a significant milestone for Kenya as it seeks to establish an enabling environment to mobilize climate finance for NDC implementation in the Forestry Sector.
He added, “It is also in line with the legal and regulatory framework established under the Climate Change Act.”
Kenya’s REDD+ registry seeks to change how climate targets are met to align with the Paris Agreement’s climate goals set forth by the European Union.
Africa contributed less than 10% of the world’s greenhouse gas emissions in 2023, according to research from S&P Global Commodity Insights, and estimates for the region are steady through 2030.
With the environmental registry platform from S&P Global Commodity Insights, users can monitor environmental projects and manage related carbon and environmental credits at various sizes.
Due to the platform’s capabilities, credits cannot be double counted, and tracking, workflow management, and monitoring of nationally determined contributions are made possible.
Additionally, the registry will automatically link to S&P Global’s Meta Registry to secure information sharing and prevent double-counting credit.
