This archive report was first published on 6 July 2021.
Kenya's leading power producer, Kenya Electricity Generating Company (KenGen), has made significant strides in combating climate change through its Clean Development Mechanism (CDM) projects. The company has been issued with additional carbon credits, bringing the total amount to 550,981.
According to the United Nations Framework Convention on Climate Change (UNFCCC), the additional 309,495 Certified Emission Reductions (CERs) were issued for KenGen's Olkaria II CDM Project. This brings the total amount of issued carbon credits to 550,981.
KenGen's Managing Director and CEO, Mrs Rebecca Miano, emphasized the importance of addressing climate change, stating that it has become one of the biggest global environmental challenges. She noted that the company has a dedicated team focused on environmental sustainability and contributing to the reduction of the effects of climate change.
KenGen has developed and registered six CDM projects, which contribute to offsetting 1.5 million tonnes of Carbon Dioxide (CO2) equivalent annually. Out of this, 550,981 tonnes of CO2 has already been issued by the UNFCCC and are now available for sale.
The sale process has been initiated as guided by the applicable disposal laws and regulations for public sector organizations. The CDM projects contribute to national sustainable development by providing clean energy, ensuring improved environmental quality, positive health impacts, and increased productivity.
KenGen has been focusing on the production of green energy, with over 86 percent of its energy coming from clean sources such as wind, hydro, and geothermal. The company intends to incorporate additional geothermal, wind, and solar projects to reduce between 100,000 to 600,000 carbon emissions every year.
As a result of the issued carbon credits, KenGen will earn approximately Ksh119 million. The company, listed on the Nairobi Securities Exchange (NSE), continues to play a crucial role in Kenya's efforts to combat climate change.
