Kenya launches first carbon exchange in Africa

Kenya will launch the first carbon exchange program in Africa.

The program in an exchange platform for facilitating trading carbon credits. The program will serve to help tackle climate change. The proposed program is expected to be in operation in the middle of next year.

Scientists report that carbon exchange programs are one way to help tackle the offset of carbon emissions. Carbon dioxide is one of the major gases responsible for causing climate change.

Rich countries with polluting industries can help to pay for clean development problems in less wealthy countries. Most of the green house gases which are affecting Africa stem from production in Asia and the West. Researchers predict that Africa will be highly affected negatively by climate change.

One tonne of carbon dioxide is equal to one credit of carbon. In some markets a carbon dioxide-equivalent gas is also equal to one credit of carbon. The reported hope is that the trade in carbon credits will pave the way and open the doors for investment in other renewable energy and better forestry projects.

The government in Kenya estimated that the Mau, the country’s largest forest, could potentially bring in earnings of $2bn (£1.2bn) per year for the next 15 years. This value is an estimate and is yet to be certified by the United Nations Framework Convention on Climate Change. The carbon exchange climate control program is the first of its kind to be launched in Africa. The program could lead to all countries in Africa being able to sell their carbon credits.

By Natasha Redman

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