World Bank in a recent report has expressed confidence in Kenya's success in the global carbon market but it needs to grow for sectors.
In the report titled 'A Carbon Market Guidebook for Kenyan Enterprises,' the World Bank highlighted that the recommendations were informed by an assessment of resource availability in Kenya, global interest from buyers, and the potential to generate high-quality credits.
"Projects in forestry and land use, household and community, and renewable energy produced more than 99 per cent of credits in Kenya since 2011. However, beyond these historically large sources of carbon credits, there are other project types with emission reduction potential that can be developed to expand Kenya’s carbon market," read part of the report.
Some of the areas Kenya was asked to grow were forestry and land use, agriculture, industrial processes and waste management.
World Bank explained that Kenya had great potential in the agriculture sector due to the size and interest of market participants in climate-smart agriculture.
According to statistics, as of 2021 almost half per cent of the land in Kenya is being used for agriculture. Over the years, the government has encouraged agriculture to boost food production and grow the economy.
On forestry and land use, the World Bank explained that there was a lot of potential in this sector due to the large forest and wetland coverage in Kenya.
"There is high potential due to large forest and wetland coverage in Kenya, with emerging opportunities driven by developments in jurisdictional REDD+ and buyer preference for removal-type forestry and land projects," read part of the report.
Meanwhile, on industrial processes, the World Bank noted that Kenya's industrial sector especially the cement industry offers significant opportunities for Greenhouse Gas (GHG) emissions reduction.
Per the report, cement manufacturing is traditionally a highly energy-intensive process, often powered by fossil fuels which significantly contributes to Kenya's overall carbon footprint.
Due to this, the World Bank recommended implementing energy-efficient technologies and practices such as improving kiln efficiency or substituting clinker with less carbon-intensive materials, which will further reduce the industry's environmental impact.
Recently, President William Ruto launched the Cemtech Clinker Factory in West Pokot County.
Conclusively, on waste management, the report revealed that Kenya had a high potential due to the large volume of waste generated and government attention with the recent Sustainable Waste Management Act (2022) and with emerging opportunities including composting and methane recovery in water.
