Climate Change is a major concern not just to Kenya but the entire world. The changing climatic dimensions have put the world on high alert with major concerns that the rapid changes will soon bring the world down to it’s knees.
President Uhuru Kenyatta has affirmed Kenyan’s commitment towards achieving a green economy come 2022. He said the government has scaled up investment in renewable energy to address climate change challenge concretely.
“Our target is to attain 100 per cent green energy sufficiency by 2020. We will do this while we achieve 100 per cent access to power for our population, and sharply lower costs to industry to aid our manufacturing push” said President Kenyatta.
“To do even more, we need support from the Green Climate Fund and other mechanisms to enhance our green energy capabilities and accelerate adaptation and mitigation of the impact of climate change,” said President Kenyatta.
The President was addressing a round-table discussion on “Don’t drop climate efforts” session of the Paris Peace Forum in France.
The President challenged governments of industrialised countries, where sustainability has been embraced, to support such investments in green energy in Africa.
He said doing so would help mitigate and even reverse the effects of climate change while delivering the jobs and opportunities that will strengthen security and stability on the continent and the world.
While the Big 4 Agenda, does not specifically target climate change, it is understood that managing climate change is a key component in achieving the four items of Food Security, Universal Healthcare, Affordable Housing and Manufacturing.
Green bonds serve as an alternative fundraising option that will enable Kenya meet her overall developmental agenda, by making funds available in support of green activities and initiatives, be it renewable energy, afforestation projects or even infrastructure development projects
Green bonds were created to fund projects that have positive environmental and/or climate benefits. The majority of the green bonds issued are green “use of proceeds” or asset-linked bonds. Proceeds from these bonds are earmarked for green projects but are backed by the issuer’s entire balance sheet.
President Uhuru also emphasized that Kenya is open for business in the manufacturing of green technologies and will work hard to enable investors in this field to thrive.
Do you support President Kenyatta’s plea to the developed nations to help the developing ones curb negative environmental change?