Kenya’s Private Sector Leaders Increased Investment in Climate Action and Green Geowth aAhead of the Africa Climate Summit
The Kenya Private Sector Alliance (KEPSA), and the United Nations Environment Program (UNEP) on behalf of the United Nations in Kenya, convened a HighLevel Private Sector Roundtable yesterday, bringing together top Corporate CEOs and Business Leaders, Development Partners and the Government to outline priorities for the Africa Climate Summit and to share perspectives towards the Nairobi Declaration.
The rallying theme for the high-level CEOs roundtable was “Building business climate action for resilience and green growth”. The Africa Climate Summit, taking place in Nairobi from the 4th to the 6th of September 2023, will present a bold and ambitious new African vision for a Green Growth agenda that optimizes the continent’s abundant human and natural resources and integrates enhanced climate action.
Speaking during the roundtable, Hon Soipan Tuya, Cabinet Secretary for Environment Climate Change and Forestry noted the need to maximize the private sector contribution to tackling climate change, with clear and appropriate incentives that are being created. “As a Country, we are already walking the talk, we have amended our Climate Change Act and provided a carbon Market regulatory framework, one of its kind in Africa, that provides for a transparent space to invest in high-quality Carbon Market Projects,” remarked Hon. Tuya.
Kenya’s private sector companies increasingly recognize the importance of reducing greenhouse gas emissions to mitigate climate change. Investing in climate change, presents significant opportunities, for adaptation and mitigation including green manufacturing, climate smart agriculture, ecotourism, adopting a circular economy among others. Green industries and business, foster innovation, create new business models, and generate economic value through eco-design and ecolabelling, lifecycle assessment, extended producer responsibility schemes, investment in material recovery, waste processing and residual waste management.
“It is encouraging to see private sector members enhance their commitment to driving investments in green growth and climate change. We want to emphasize our solid support for the government in co-hosting the upcoming Africa Climate Summit and leveraging
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