UNEP Green Economy Advisory Services – Kenya
In Kenya, The United Nations Environment Program (UNEP) is working to help the government implement a project on Green Economy and Social and Environmental Entrepreneurship Development (SEED), to identify areas with the biggest potential for green investment.
The Green Economy Advisory Services provides governments with policy advice, technical assistance and capacity building to help governments develop and implement initiatives to transform and revitalize their economies. For information on the program globally, click here.
As part of a regional initiative on green economy in Africa, UNEP is partnering with Kenya on the implementation of a project on Green Economy and Social and Environmental Entrepreneurship Development (SEED), with support from the European Union.
Through this initiative, UNEP will provide support to the Ministry of Environment and Mineral Resources and a national research institute in Kenya to undertake macro-economic assessments. Their aim is to identify areas for green investments in order to contribute to economic growth and development, decent job creation and environmental improvement.
Through this support, the Government will:
- Identify and invest in key sectors for transition towards a green economy;
- Develop a coherent national framework to guide the transition to a green economy;
- Create awareness on a green economy;
A green economy would:
- Enable Kenya to achieve an average annual real GDP growth rate of 5%, as compared to 3.7% under business-as-usual (BAU) between 2010 and 2030.
- Reduce the proportion of population below poverty line by about 3%.
- Reduce CO2 emissions by 15% lower than BAU by 2030.
- Increase agriculture production by about 23% higher than BAU by 2030.
In order to realize such a potential, the assessment for Kenya identified the following challenges that need to be addressed:
- Standards and regulations need to be strengthened as improper design of standards and regulations represent significant obstacles to market entry.
- The failure to capture environmental externalities in prices is hampering sustainable alternatives to compete thereby biasing against investment in green sectors.
- Transiting towards a green economy requires massive financial resources. Clean development mechanism (CDM) has been one of the major sources of carbon financing but Kenya has faced numerous challenges that prohibit full exploitation of CDM.
- Access to finance for the private sector operating in the green technology space is very limited despite the obvious importance of private sector participation in low carbon investment.
- The institutional and regulatory processes for low carbon projects development is long, complex, strenuous and uncoordinated, involving several government agencies, private sector players and development agencies.
Outputs and resources
To view the full country profile for Kenya on the UNEP website click here.