Development of the National Carbon Market Registry

The appointment of NEMA as the Designated National Authority for Article 6 of the Paris Agreement and all other markets and the Director General as the National Carbon Registrar is a great step towards enhancing the flow of climate finance from developed countries to developing countries for the purposes of enhanced climate action, the NEMA Director General, Mamo B. Mamo, EBS has said.

 

The DG added that NEMA has effectively served as the DNA for Clean Development Mechanism (CDM) for over 15 years and has therefore gained the relevant technical skills over the years. “The Authority shall therefore continue to serve as a one stop shop for carbon project approvals, environment and social safeguards through our ESIA regimes and project monitoring through the Environmental Audit process,” the DG said.

 

The DG was speaking while opening a workshop for the development of the national carbon markets supported by the GIZ Kenya on 7th August, 2024

 

The amendment of the Climate Change Act 2016 to provide for governance measures for carbon markets and non-markets. The Act was assented to by H.E. the President on 1st September 2023 and became operational 2 weeks later. This Act provides for development of 4 subsidiary regulations namely the Carbon Markets Regulations, Carbon Trading Regulations, National Carbon Registry Regulations and Non-Market Regulations.

 

The Carbon Market Regulations were developed and published on 17th May 2024. The Carbon Markets Regulations is a great step for the country towards full operationalization and implementation of carbon markets. The Government is also keen to fast track the development of the other three regulations and our presence here today marks an important initial step towards the development of the National Carbon Registry whose regulations shall be in due course.

 

The development of the National Carbon Registry is a significant journey that the country is embarking on.

 

Government authorities in any country need to be fully aware of the different paths carbon projects in their jurisdiction may follow hence the need to implement a carbon tracking platform.

 

The carbon market registries will serve three interrelated purposes:

a. To promote transparency by providing publicly accessible information on mitigation activities under the carbon crediting program or jurisdiction

b. To facilitate the issuance, transfer, and use of uniquely identifiable carbon units that are linked to, and convey a claim to emissions reductions or removals achieved by, registered mitigation activities; and

c. To help prevent double counting and double issuance of emissions reductions and removals by making information about carbon units transparent.