Kenya: The CCF Alex Lemarkoko this morning held discussions with the Chairman of Bidco Africa, Vimal Shah. Notably, Shah paid a courtesy call on the CCF to discuss forest conservation. The conversations focussed on especially how to develop innovative initiatives to fund the conservation of our forests, which they both agreed, was an expensive venture.
In the discussions, it was noted that revenues generated from carbon markets are one of the most viable options for supporting forest conservation. Meanwhile at the same time, it would also benefit forest-adjacent communities, especially Community Forest Associations (CFA) and other stakeholders. We agreed that we will collaborate in the implementation of the 15 billion tree-growing campaign by exploring opportunities in carbon financing.
“Looking at our country and continent, it was noted that there was a need to develop the internal capacity of our experts in the carbon trading sector.”
This is because we require experts to develop and certify carbon credit projects to enable the country to tap into carbon finances to fund forest conservation activities and the ambitious yet critical programme of attaining a 30% tree cover by the year 2032.
Vimal Shah, who is a distinguished leader in business and industry and the Chancellor of Maasai Mara University, challenged the to explore all available avenues of funding forest conservation, noting that over-dependence on the exchequer might not be a viable option because of the many development programmes that the government has to implement.
The CCF informed the delegation led by Shah that we, as a Service, were looking forward to the enactment of the draft Carbon Credit Trading and Benefit Sharing Bill, 2023, which will establish a regulatory framework for the trading and benefit sharing in carbon credit revenues.
We agreed to form a technical team to drive the development of the framework of collaboration between the two organisations and concept development.