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State to take 25 percent of private firms’ carbon credits revenue
President William Ruto arrives for the second day of the Africa Climate Summit with Deputy President Rigathi Gachagua (Left) and Cabinet secretary for Environment, Climate Change and Forestry Roselinda Soipan Tuiya (Right) at KICC, Nairobi on September 5, 2023. PHOTO | DENNIS ONSONGO | NMG
The government will take 25 percent of revenue generated by private companies from the sale of carbon emission reduction credits (CERs), if its proposals are approved.
The draft Climate Change (Carbon Markets) Regulations 2023 seeks to give the government a share of carbon credit revenue, which it says will be used to fund sustainable development.
