Page 10 - AfrElec Week 19 2021
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AfrElec EMISSIONS AfrElec
Kenya to set up emissions
trading system
KENYA KENYA is close to setting up an emissions trad- a 2018 Kenya National Bureau of Statistics study.
ing system in a bid to limit the release of green- The study also showed droughts cost Kenya 8%
house gases. of GDP every five years.
“The government is at an advanced stage in Yatani also said that the finance ministry
establishing the Kenya Emissions Trading Sys- was now close to issuing its first sovereign green
tem allowing companies and organisations to bond.
buy Emission Allowances and thereby enable He also said that Kenya planned to speed up
Kenya to meet her commitments in limiting the formation of the Kenya Green Investment
greenhouse [gas (GHG)] emissions,” Kenyan Bank to allow easier access to finance for gov-
Finance Minister Ukur Yatani said this week, ernment and private projects in areas such in
Reuters reported. renewable energy, energy efficiency, green trans-
He said the system would be managed port and waste-water treatment.
through a national carbon credits and green Kenya has already set a target date of 2050 for
assets registry, also soon to be established. achieving a net-zero economy by 2050.
Emissions trading is a pollution control Kenya is one of Africa’s leading supporters of
mechanism where a central authority issues green energy. The think-tank Ember said that
a limited number of permits for the release of Morocco and Kenya had the highest levels of
specific GHGs. Companies can then buy these wind and solar use in Africa, respectively gener-
permits and also trade them. ating 16% and 15% of their electricity from wind
Many countries are using carbon pricing to and solar in 2019.
meet climate goals, in the form of a tax or under Kenya has seen a rapid acceleration in wind
an emissions trading or cap-and-trade plan power, increasing from less than 1% in 2015 to
where companies or countries face a carbon 14% in 2019. Solar power still generates less than
limit. 1% of Kenya’s electricity. Gas and oil accounts
Emissions are a political issue in Africa. for 11% of output, while hydro and bioenergy
While the continent produces a very small share account for 75%.
of the world’s GHGs, both today and historically, Across Africa as a whole, wind and solar now
it is also very vulnerable to the changing climate, provide 20% of electricity, Ember said, while fos-
as much of its population is poor, rural and often sil fuels furnish 73%. This is mainly coal in South
dependent on subsistence agriculture. Africa and gas in North Africa.
Kenya loses 2–2.4% of its gross domestic On the other hand, there is little prospect for
product annually due to the effects of climate coal growth in Africa, with only South Africa
change, such as drought and floods, according to and Zimbabwe building new coal capacity.
P10 www. NEWSBASE .com Week 19 13•May•2021
