Carbon projects in the energy space – why, how and what next?
Industry leaders, policymakers, and project developers attend a private-sector engagement on carbon markets at the Nairobi Center.
June 23, 2023
The Nairobi Center hosted a private-sector engagement on carbon market space, specifically within the energy sector. The event brought together industry leaders, policymakers, project developers, and experts to explore the experiences, progress, and challenges project developers face in carbon markets. It also highlighted the experiences in the space with a focus on project developers, alongside a focus on the Energy Transition Accelerator – an initiative designed to drive finance into the energy transition. This engagement also highlighted the progress of the carbon market activation plan (CMAP) in Kenya and shared valuable insights, particularly concerning investment attraction, key policies, and regulations.
At this event, Prof. Vijay Modi of Columbia Engineering used a combination of physics and machine-learning approaches to show why household-level access to electricity, especially in rural areas, is essential. He presented the results of an assessment conducted in 14 districts in Uganda - in partnership with the Government of Uganda. The evaluation generated data that showed where higher value crops are being grown, crop irrigation is occurring, and the corresponding effects on production, quantity, and quality when agro-processing is not powered by electricity. This model could assist African governments, private sector bodies, and interested parties detect where energy investments could lead to potential income generation and sustainable development. The event was run in partnership Environmental Defense Fund and attended by Kenya's Cabinet Secretary of the Ministry of Investments, Trade and Industry - Hon.Moses K.Kuria.