3 Reasons Why Kenya’s Carbon Markets Can Be Expected To Grow

Kenya has attracted some of the biggest companies in the world into its carbon projects, from Gucci to Netflix, over the past year. Companies buy carbon credits to offset some of their emissions. Leaving aside for a moment questions on the value and integrity of some of the carbon projects—i.e., whether they reduced emissions meaningfully—and questions on whether or not it is okay for companies to use offsets, what is interesting to note is how actively the government in Kenya is promoting the country's potential in carbon trade. In COP 27, Kenya's president promoted carbon credit as a significant export from the country. When the president of a country openly declares what a country's leading export is, you stop in your tracks and pay attention.

Why only Kenya and carbon markets, one might ask? Indeed, all African countries have an appetite for carbon credit trade. African countries have considerable potential for nature-based carbon credits—a method whereby solutions such as afforestation or better land management techniques reduce or remove atmospheric emissions. According to a report, Africa currently generates ( article continues at Forbes )