Isra-Mart srl:Kenya plans green drive to tap carbon billions

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Isra-Mart srl news:

The government is seeking to tap billions of shillings from international carbon trading markets in a massive re-afforestation drive that will also create jobs for thousands of youths.

The plan involves rehabilitating degraded lands, 210 jua kali sheds and 200 hospitals through planting trees, grass, and flowers.

“This is part of the other green development projects including re-afforesting Mau and Aberdare forests to earn from the carbon finance market,” said Erastus Wahome, the head of carbon financing unit at Treasury.

The project will also create jobs for youths who will be hired to work on green beautification activities under Treasury’s Economic Stimulus Programme.

Details about the project are contained in the latest issue of the Kenya Gazette.

Students in 4,200 primary schools in Athi River, Naivasha Laikipia, Ahero, Bondo, Nambale and Funyula, Kitui, Mwingi, Nyeri, Murang’a, Kwale and Kilifi will be used to plant trees.

Trees absorb and use carbon dioxide to manufacture their nutrition, acting as “carbon sinks”’ to the environment.

Increasing levels of carbon dioxide are blamed for global warning, which scientists say has accelerated climate change that threatens to disrupt normal life.

Preliminary estimates show that the government could earn as much as Sh3 billion every year from this project if each of the 4,200 schools grow trees on an average land of one hectare each.

Patrick Karani, the Executive Director of Bea International, the company helping the government to set up Nairobi Carbon Exchange, said each hectare can hold up to 1,500 trees that can sink 300 tonnes of carbon dioxide every year.

The soils on the same land can hold a further 200 tonnes of carbon dioxide meaning that each hectare will prevent 500 tonnes of destructive gas from being emitted into the atmosphere.

At the current payment rate of 15Euros (Sh1,605) for every tonne of carbon dioxide not emitted into the atmosphere, the government could earn Sh3.3 billion every year.

“This is a bottom-up development model that incentives the community to conserve the environment because of the social gains,” said Dr Karani.

Leonard Kimani, the Economic Director of Kenya’s National Economic and Social Council (NESC) said money from the climate change investment projects will be re-invested in green energy projects.

“We have recommended that money generated from such projects be reinvested in more green projects like solar and geothermal to ease Kenya’s vulnerability to hydro and diesel generated power,” said Mr Kimani.