1. How to encourage private sector climate initiatives in Kenya
- Author:
- Judith Mulwa and Marie Ladekjær Gravesen
- Publication Date:
- 07-2023
- Content Type:
- Policy Brief
- Institution:
- Danish Institute for International Studies (DIIS)
- Abstract:
- Climate change is a particularly pertinent issue in Kenya because the country’s economy is highly dependent on its natural resource base (such as agriculture and fisheries), which are sensitive to temperature and rainfall variabilities. As a party to the United Nations Framework Convention on Climate Change (UNFCCC), Kenya must work to mitigate and adapt to climate change. This requires significant financial resources. Per the UNFCCC framework, some national climate actions are not expected to receive financing from international financial sources. Therefore, the country must look for innovative ways of domestically sourcing finances for low-carbon development and climate resilience programmes. Kenya has, in this regard, set up and implemented a national climate fund for financing adaptation and mitigation projects, ideally from various sources, including the private sector. This policy brief explores the legal, price-based, property-based, and information-based incentives for private sector investment and engagement in climate adaptation and mitigation in Kenya. The analysis is based on desk research and 51 stakeholder interviews from identified private sector institutions and industries in Kenya.
- Topic:
- Climate Change, Environment, Natural Resources, Investment, and Private Sector
- Political Geography:
- Kenya and Africa