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The Kenya Times
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    Embu Residents Have Condemned Cecily Mutitu Mbarire For Distributing Lollipops During A Campaign

    Embu Governor Criticized for Distributing Lollipops During Mbeere North Campaign

    A Photo Of Betty Bayo’s Daughter Sky And Husband Tash Photo/Mc Goodluck

    Betty Bayo’s Daughter Sky, Pastor Kanyari, and Husband Tash Pay Emotional Tribute – Here’s What They Said

    Russia Hits Back At Uk Over Yantar Ship Claims, Warns Of Rising Tensions

    Putin Administration Issues Warning to Keir Starmer’s Government as Tensions Rise

    Huduma Centre Manager Who Went Missing For Months Found In Somalia

    Huduma Centre Manager Who Went Missing for Months Found in Somalia

    A Photo Of Kncci Chairman

    KNCCI Lists Containers Allowed to Exit Without Scanning at Port of Mombasa

    Linus Kaikai

    Linus Kaikai Profile: Educational Background, Career, Family and Net Worth

    Kenya Revenue Authority Staff. Photo/Kra

    Why Gender-Responsive Tax Policies Are Long Overdue

    Kra Commissioner General Humphrey Wattanga Speaking At A Past Event. Photo/Kra X

    List of Kenyan Facebook Users to Pay Tax to KRA

    Us President Donald Trump

    Trump to Sell 100 Missiles and 216 Excalibur Guided Artillery Shells 

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      • Cyber Security
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      Vodacom In Talks To Acquire Additional Safaricom Stake

      Vodacom in Talks to Acquire Additional Safaricom Stake

      Kenya Revenue Authority Staff. Photo/Kra

      Why Gender-Responsive Tax Policies Are Long Overdue

      Microsoft Launches Farmer-Focused Ai That Understands Swahili, Kikuyu, Dholuo And More

      Microsoft Launches Farmer-Focused AI That Understands Swahili, Kikuyu, Dholuo and More

      How Stablecoins Could Change The Way Africa Sends And Receives Money

      How Stablecoins Could Change the Way Africa Sends and Receives Money

      Safaricom Launches Skiza Tunes-Like Video Ring Back Tone Service- How It Works

      Safaricom Launches Skiza-Like Video Ring Back Tone Service- How it Works

      Password Are One Of The Least Secure Ways Of Protecting Your Online Information.

      Govt Issues New Guidelines on Password Storage and Cybersecurity

  • Weather
    • Climate Business
    • Climate Change
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    • Living Green
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    Vodacom In Talks To Acquire Additional Safaricom Stake

    Vodacom in Talks to Acquire Additional Safaricom Stake

    Family Bank Launched Its Medium-Term Note Program In 2021

    Family Bank Announces Books Closure Dates Ahead of Ninth Interest Payment

    I&Amp;M Bank Declares Kes 1.50 Interim Dividend With Total Payout Of Kes 2.61B

    I&M Bank Raises Interim Dividend to KSh 1.50 per Share as Payout Hits KSh 2.61 Billion

    A Photo Of The Nigerian Zenith Bank. Photo/Zenith

    Nigeria’s Zenith Bank Clarifies Reports of Acquiring Kenyan Bank

    A Photo Of Cak Director General David Kibet Photo/ Kbc

    Competition Authority of Kenya Approves Consult Bidco’s Takeover of Mace Consult Holding

    Absa And Prime Bank Make Billion Profits In Q3 2025 Results

    ABSA and Prime Bank Post Massive Profits in First Nine Months of 2025

    M-Pesa

    Kenyan Men Lead in M-Pesa Usage, FinAccess Survey Shows

    Comesa Approves 75% Stake Acquisition Of Noble Outlook Limited By Salvo Grima Kenya Ltd

    Salvo Grima Kenya Ltd Moves to Acquire Major Stake of Leading Kenyan Tobacco Distributor

    Zenith Bank Refutes Paramount Bank Acquisition Claims

    Another Nigerian Bank Moves to Acquire Kenya’s Paramount Bank Months After NBK Takeover

  • Health
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    Kmpdc Headquaters In Nairobi. Photo/Kmpdc

    Govt Warns Hospitals Against Detaining Bodies in New Advisory

    Kutrrh Announces 99 Job Vacancies In Key Medical Roles

    Kenyatta University Hospital Announces 99 Job Openings Across Key Departments

    The Social Health Authority (Sha) Portal. Photo/Afyangu

    How Teachers Can Add and Update Dependents on SHA

    Shiru Wa Gp Confirms Betty Bayo’s Contract To Continue After Death To Support Family

    Betty Bayo Profile:  Early Life and Education, Career, Family and Death

    Sha Medical Tariffs For Teachers Under Tsc

    Inside New SHA Oncology Package as Govt Moves to Raise Cancer Cover

    Younger Women Are Being Diagnosed With Breast Cancer: What You Should Know

    Younger Women Are Being Diagnosed with Breast Cancer: What You Should Know

    Manufacturers To Pay Standards Levy Capped At Ksh4M Annually As Kebs Enforces Strict Penalties

    KEBS Responds After UK Methanol Poisoning Alert in Kenya

    Knh Vice Chair In Court Over Ksh3.6M Tablet Theft

    KNH Official Charged with Theft of Tablets Worth Ksh 3.6 Million

    Why Your Ugali Might Not Be As Nutritious As You Think

    Why Your Ugali Might Not Be as Nutritious- Report

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    • Elections
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    Dci Hq

    Man Posing as KDF Brigadier Caught Conning Youth with Fake Recruitment Letters

    Tiyah Galgalo Ali Wins Landmark Ruling At High Court

    Court Blocks Replacement of National Land Commissioner Allowing Full Six-Year Term

    Court Issues Fresh Orders On Recruitment Of 10,000 Police Officers

    High Court Lifts Orders Stopping Recruitment of 10,000 Police Officers

    Icj Judges’ Salaries, Immunities, And Exclusive Privileges

    Phoebe Okowa: Prestigious Perks and Privileges Kenyan Elected ICJ Judge will Enjoy

    Kemsa Warehouse In Nairobi. Photo/Courtesy

    Former KEMSA Directors Win Ksh12 Million for Being Sent on Forced Leave

    Court Awards Ex-Kdf Officer Kshs 8 Million Over Sabbath Dispute

    Court Awards Ex-KDF Soldier Fired for Refusing to Work on Saturdays KSh8 Million

    Odm Rally In Homabay

    Furious Wanga Issues Demands as ODM Feels the Heat in Kasipul

    Kenyan Prince'S Mercedes-Benz Gle Impounded By Police

    Kenyan Prince’s Mercedes-Benz GLE Impounded by Police

    Shock In Mombasa Court As Buried Shakahola Man Appears Alive In Court

    Shakahola Suspect Appears in Court Despite Claims He Was Buried by Family

  • Sports
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    • Football
    • Golf
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    • World Rally Championship
    Ruto Awarded At Caf Awards 2025 For Growing African Football

    Ruto, Suluhu, and Museveni Among Winners at CAF Awards 2025

    How Fkf Is Reviving Kenyan Football Rapidly Through Junior Stars

    Kenya’s New Football Structure Hailed as Junior Stars Face Somalia in AFCON Qualifiers

    Kakamega Homeboyz Unveil Strict New Player Performance

    Kakamega Homeboyz Introduces Strict Rules: Mocking Teammates’ Marital Status Now Punishable

    Kenya’s Harambee Stars Set To Face Senegal In Turkey

    Kenya Brace for Tough Senegal Test Amid AFCON 2027 Preparations, How to Watch

    Sportpesa League Ushers In A New Era For Kenyan Football

    Sportpesa League Ushers in a New Era for Kenyan Football With Structure, Analytics, And A Player-First Development Model

    Nigeria Face Dr Congo In Caf World Cup Qualifying Playoff Final

    Nigeria and Congo Set to Battle for Africa’s Last Slot at 2026 FIFA World Cup

    Police Fc Face Giants Tusker As Fkf Pl Title Defence Continues

    Police FC Face Giants Tusker as FKF PL Title Defence Continues

    Govt Reveals When Talanta Stadium Will Be Ready

    Govt Reveals When Talanta Stadium Will Be Ready

    High Stakes As Nigeria Welcomes Gabon, Cameroon Faces Dr Congo

    All Eyes on Africa as 4 Nations Fight for Final 2026 FIFA World Cup Ticket

  • Entertainment
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    Dj Ag Announces Nairobi Visit For Live Stream Hub And Blockhouse Party

    Renowned British Jamaican DJ AG Expected to Make a High-Profile Visit to Kenya

    A Photo Collage Showing The View Of The Inaugural Nairobi Festival In Nairobi And Kenya’s Rugby Lionesses. Photo/Charles Onyango/Kenya Rugby

    Spice Up Your Weekend: Top November Events in Nairobi for Art Lovers and Families

    Brian Kabugi

    Brian Kabugi Biography: Education, Career, Family, and Net Worth

    A Photo Of The Mtv Shuga Cast For Season 2, Headlined By Brian Kabugi. Photo/Mtv Shuga

    MTV Shuga Season 2 Unveils Gen Z Cast as Brian Kabugi Returns

    Blankets And Wine Team Cutting A Cake During The 17 Year Birthday. Photo/ File

    Blankets and Wine Issues Update on Refund of Drinks and Duplicate Payments

    A Photo Showing The View Of The Inaugural Nairobi Festival In Nairobi, Kenya, Dec. 17, 2022. Photo/Charles Onyango

    Spice Up Your Weekend: Must-Attend Concerts and Outdoor Activities in Nairobi This Weekend

  • Lifestyle
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    Sonko Breaks Silence On Gender-Based Violence After Daughters' Disturbing Incident

    Sonko Rushes to Kitengela After a Desperate Call From His Daughter

    Shiru Wa Gp Confirms Betty Bayo’s Contract To Continue After Death To Support Family

    Betty Bayo’s Boss Confirms Her Contract to Continue After Her Death

    Wawira Njiru: Kenyan Who Founded Ngo Serving 600,000 Meals Daily At 20 Years

    Wawira Njiru: Kenyan Who Founded NGO Serving 600,000 Meals Daily at 20 Years

    A Photo Of Ololo Safari Lodge And Farm Photo/ Ololo Safari Lodge And Farm

    Kenya’s Hidden Gems: Ololo Safari Lodge and Farm With Luxury Stays from Ksh 42,000 Per Night

    Kws Issues Statement On Viral Lion At Stedmak Gardens After Abuse Allegations

    KWS Responds to Viral Video of Sickly Lion Captured Inside a Popular Garden in Karen

    Ncck Bishops Say Ruto’s Laws Are Killing Jobs And Businesses

    Bishops Blast Ruto Over Draconian Laws Suffocating Businesses and Killing Jobs

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    • Wycliffe Njororai Simiyu
    • XN Iraki
    Political Miracles Are A Pre-Requisite For Economic Miracles.

    Africa’s Needs to Mainstream Strong Multiparty Democracy, Governments in Waiting and Shadow Cabinets to Fortify Against Political Instability and Military Coups

    Can Kenya Model Africa'S Youths Tvet Jobs And Wealth Creation Marshall Plan?

    Can Kenya Model Africa’s Youths TVET Jobs and Wealth Creation Marshall Plan?

    Nairobi City Council Kanjo Spraying A Parked Car'S Windscreen. Photo/Sikikafb

    Nairobi Kanjos Start Spray-Painting Cars Parked Illegally

    Mainstream Replication Of Corporate Venture Capital In The Business Models Of African Corporates

    Mainstream Replication of Corporate Venture Capital in the Business Models of African Corporates

    Women Empowerment In Tunisia And The Comoros: Milestones And How The Future Looks Like In Africa

    Women Empowerment in Tunisia and the Comoros: Milestones and What the Future Holds

    Ngo'S Decry Poor Organizations Of The Africa Climate Summit

    Why Are Children Paraded and Photographed at Climate Talks but Not Allowed to Decide Anything?

    Un Security Council Has Approved Morocco'S Plan For Western Sahara

    UN Security Council Endorsing Morocco’s Plan for Western Sahara: What it Means

    Kenya Power Engineers At Work.

    Load Shedding Debate: It Is Energy Poverty That Kills, Not Coal or Nuclear Plants

    Christian Genocide In Nigeria As Terrorists Attack All Faith

    Truth Behind a Christian Genocide in Nigeria

  • Behind The Brand
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    Embu Residents Have Condemned Cecily Mutitu Mbarire For Distributing Lollipops During A Campaign

    Embu Governor Criticized for Distributing Lollipops During Mbeere North Campaign

    A Photo Of Betty Bayo’s Daughter Sky And Husband Tash Photo/Mc Goodluck

    Betty Bayo’s Daughter Sky, Pastor Kanyari, and Husband Tash Pay Emotional Tribute – Here’s What They Said

    Russia Hits Back At Uk Over Yantar Ship Claims, Warns Of Rising Tensions

    Putin Administration Issues Warning to Keir Starmer’s Government as Tensions Rise

    Huduma Centre Manager Who Went Missing For Months Found In Somalia

    Huduma Centre Manager Who Went Missing for Months Found in Somalia

    A Photo Of Kncci Chairman

    KNCCI Lists Containers Allowed to Exit Without Scanning at Port of Mombasa

    Linus Kaikai

    Linus Kaikai Profile: Educational Background, Career, Family and Net Worth

    Kenya Revenue Authority Staff. Photo/Kra

    Why Gender-Responsive Tax Policies Are Long Overdue

    Kra Commissioner General Humphrey Wattanga Speaking At A Past Event. Photo/Kra X

    List of Kenyan Facebook Users to Pay Tax to KRA

    Us President Donald Trump

    Trump to Sell 100 Missiles and 216 Excalibur Guided Artillery Shells 

    • Sci-Tech
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      Vodacom In Talks To Acquire Additional Safaricom Stake

      Vodacom in Talks to Acquire Additional Safaricom Stake

      Kenya Revenue Authority Staff. Photo/Kra

      Why Gender-Responsive Tax Policies Are Long Overdue

      Microsoft Launches Farmer-Focused Ai That Understands Swahili, Kikuyu, Dholuo And More

      Microsoft Launches Farmer-Focused AI That Understands Swahili, Kikuyu, Dholuo and More

      How Stablecoins Could Change The Way Africa Sends And Receives Money

      How Stablecoins Could Change the Way Africa Sends and Receives Money

      Safaricom Launches Skiza Tunes-Like Video Ring Back Tone Service- How It Works

      Safaricom Launches Skiza-Like Video Ring Back Tone Service- How it Works

      Password Are One Of The Least Secure Ways Of Protecting Your Online Information.

      Govt Issues New Guidelines on Password Storage and Cybersecurity

  • Weather
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    Vodacom In Talks To Acquire Additional Safaricom Stake

    Vodacom in Talks to Acquire Additional Safaricom Stake

    Family Bank Launched Its Medium-Term Note Program In 2021

    Family Bank Announces Books Closure Dates Ahead of Ninth Interest Payment

    I&Amp;M Bank Declares Kes 1.50 Interim Dividend With Total Payout Of Kes 2.61B

    I&M Bank Raises Interim Dividend to KSh 1.50 per Share as Payout Hits KSh 2.61 Billion

    A Photo Of The Nigerian Zenith Bank. Photo/Zenith

    Nigeria’s Zenith Bank Clarifies Reports of Acquiring Kenyan Bank

    A Photo Of Cak Director General David Kibet Photo/ Kbc

    Competition Authority of Kenya Approves Consult Bidco’s Takeover of Mace Consult Holding

    Absa And Prime Bank Make Billion Profits In Q3 2025 Results

    ABSA and Prime Bank Post Massive Profits in First Nine Months of 2025

    M-Pesa

    Kenyan Men Lead in M-Pesa Usage, FinAccess Survey Shows

    Comesa Approves 75% Stake Acquisition Of Noble Outlook Limited By Salvo Grima Kenya Ltd

    Salvo Grima Kenya Ltd Moves to Acquire Major Stake of Leading Kenyan Tobacco Distributor

    Zenith Bank Refutes Paramount Bank Acquisition Claims

    Another Nigerian Bank Moves to Acquire Kenya’s Paramount Bank Months After NBK Takeover

  • Health
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    Kmpdc Headquaters In Nairobi. Photo/Kmpdc

    Govt Warns Hospitals Against Detaining Bodies in New Advisory

    Kutrrh Announces 99 Job Vacancies In Key Medical Roles

    Kenyatta University Hospital Announces 99 Job Openings Across Key Departments

    The Social Health Authority (Sha) Portal. Photo/Afyangu

    How Teachers Can Add and Update Dependents on SHA

    Shiru Wa Gp Confirms Betty Bayo’s Contract To Continue After Death To Support Family

    Betty Bayo Profile:  Early Life and Education, Career, Family and Death

    Sha Medical Tariffs For Teachers Under Tsc

    Inside New SHA Oncology Package as Govt Moves to Raise Cancer Cover

    Younger Women Are Being Diagnosed With Breast Cancer: What You Should Know

    Younger Women Are Being Diagnosed with Breast Cancer: What You Should Know

    Manufacturers To Pay Standards Levy Capped At Ksh4M Annually As Kebs Enforces Strict Penalties

    KEBS Responds After UK Methanol Poisoning Alert in Kenya

    Knh Vice Chair In Court Over Ksh3.6M Tablet Theft

    KNH Official Charged with Theft of Tablets Worth Ksh 3.6 Million

    Why Your Ugali Might Not Be As Nutritious As You Think

    Why Your Ugali Might Not Be as Nutritious- Report

  • Law & Order
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    • Elections
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    Dci Hq

    Man Posing as KDF Brigadier Caught Conning Youth with Fake Recruitment Letters

    Tiyah Galgalo Ali Wins Landmark Ruling At High Court

    Court Blocks Replacement of National Land Commissioner Allowing Full Six-Year Term

    Court Issues Fresh Orders On Recruitment Of 10,000 Police Officers

    High Court Lifts Orders Stopping Recruitment of 10,000 Police Officers

    Icj Judges’ Salaries, Immunities, And Exclusive Privileges

    Phoebe Okowa: Prestigious Perks and Privileges Kenyan Elected ICJ Judge will Enjoy

    Kemsa Warehouse In Nairobi. Photo/Courtesy

    Former KEMSA Directors Win Ksh12 Million for Being Sent on Forced Leave

    Court Awards Ex-Kdf Officer Kshs 8 Million Over Sabbath Dispute

    Court Awards Ex-KDF Soldier Fired for Refusing to Work on Saturdays KSh8 Million

    Odm Rally In Homabay

    Furious Wanga Issues Demands as ODM Feels the Heat in Kasipul

    Kenyan Prince'S Mercedes-Benz Gle Impounded By Police

    Kenyan Prince’s Mercedes-Benz GLE Impounded by Police

    Shock In Mombasa Court As Buried Shakahola Man Appears Alive In Court

    Shakahola Suspect Appears in Court Despite Claims He Was Buried by Family

  • Sports
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    • Basketball
    • Cricket
    • Football
    • Golf
    • Rugby
    • World Rally Championship
    Ruto Awarded At Caf Awards 2025 For Growing African Football

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    Nigeria Face Dr Congo In Caf World Cup Qualifying Playoff Final

    Nigeria and Congo Set to Battle for Africa’s Last Slot at 2026 FIFA World Cup

    Police Fc Face Giants Tusker As Fkf Pl Title Defence Continues

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  • Entertainment
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    Renowned British Jamaican DJ AG Expected to Make a High-Profile Visit to Kenya

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  • Lifestyle
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    • Travel & Tourism
    Sonko Breaks Silence On Gender-Based Violence After Daughters' Disturbing Incident

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  • Opinion
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    • Contributors
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    • John Mukum Mbaku
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    • Makau Mutua
    • Marie Durrieu
    • Peter Ongera
    • Salim Lone
    • William Hatungimana
    • Wycliffe Njororai Simiyu
    • XN Iraki
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    Nairobi Kanjos Start Spray-Painting Cars Parked Illegally

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    Mainstream Replication of Corporate Venture Capital in the Business Models of African Corporates

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Navigating the Climate Change Agenda: The Crucial Role of Climate Financing

Kenya is already experiencing more frequent and severe droughts, which are having a devastating impact on agriculture, livestock, and water resources.

by James Wanjagi
September 9, 2023
Reading Time: 6 mins read
Climate Change Agenda: Crucial Role Of Climate Financing

Leaders and delegates during Africa Climate Summit in Nairobi. PHOTO/Courtesy.

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The climate change agenda refers to a global effort to address and mitigate the challenges posed by climate change. They include a wide range of policies, actions, and initiatives aimed at reducing greenhouse gas emissions, adapting to the impacts of climate change, and transitioning to a more sustainable and resilient world.

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The agenda is driven by the recognition that human activities, particularly the burning of fossil fuels and deforestation, are leading to a warming of the Earth’s climate, which has far-reaching and potentially catastrophic consequences for the planet and its inhabitants.

In September 2023, Kenya hosted the inaugural Africa Climate Summit (ACS), where leaders, policy makers, climate experts, businesses, civil society organizations and other stakeholders from various countries came together to discuss and act on climate-related issues.

The summit ended on Wednesday September 6, 2023, with the “Nairobi Declaration” which called for world leaders to back global carbon taxes to fund climate action.

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Everything You Need To Know About Carbon Credits
President William Ruto addressing Africa Climate Summit in Nairobi. PHOTO/PCS.

The declaration also called on the world’s biggest greenhouse gas emitters and its richest countries to keep their promises — noting an unfilled pledge of $100 billion in annual climate finance to developing nations, made 14 years ago — and for today’s world leaders to rally behind a global carbon tax on fossil fuels, aviation, and maritime transport.


Also Read: Ruto Praises Kenya’s Achievements at Africa Climate Summit


The lowest emitters in the world include African countries – who suffer from some of the worst impacts of climate change – and yet receive only 12% of the financing it needs to cope.

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During the summit, governments and private investors committed billions of dollars to green initiatives, including a $4.5 billion (roughly €4.2 billion) pledge by November’s COP28 hosts the United Arab Emirates (UAE).

Why is the Conversation on Climate Change Important to Kenya?

Like any country, Kenya is vulnerable to the impacts of climate change.

This includes droughts, floods, and changing weather patterns. These challenges affect various sectors, such as agriculture, water resources, and infrastructure.

Kenya is already experiencing more frequent and severe droughts, which are having a devastating impact on agriculture, livestock, and water resources.

The 2017-2018 drought was the worst in Kenya’s history, leaving millions of people without food or water as well as the loss of over 1 million livestock.

In addition, climate change is leading to more intense rainfall and flooding, which are causing widespread damage to infrastructure and property.

The 2020 floods in Kenya were the worst in decades, and they displaced over 200,000 people.

Nonetheless, climate change has also affected agricultural yields in Kenya, which had led to food insecurity.

The average temperature in Kenya has increased by 1 degree Celsius since 1961 and is expected to rise by 1.5 degrees Celsius by the end of the century, which could reduce crop yields by up to 30%.

For instance, if something is not done, maize – which is a staple food in Kenya – could see yields drop by 20% by 2050.

However, to combat these issues, Kenya has developed a National Climate Change Action Plan and established institutions such as the Climate Change Directorate to coordinate its climate efforts.

The country has committed to reducing its greenhouse gas emissions by 30% by 2030, and it is investing in renewable energy and energy efficiency, reducing deforestation, and promoting sustainable agriculture, building sea walls and other infrastructure to protect coastal communities, developing early warning systems for droughts and floods, and investing in climate adaptation measures for vulnerable communities.

Navigating The Climate Change Agenda: The Crucial Role Of Climate Financing
President William Ruto and UAE’s Minister of Industry and Advanced Technology and COP28 President Sultan bin Ahmed Al-Jaber.PHOTO/PCS.

What are the elements of climate change that must be addressed?

When discussing climate change, mitigation, adaptation, international agreements, renewable energy, reforestation and conservation, sustainable agriculture, public awareness and education, technology innovations, climate financing, policy and regulation are key.

In this article I want to address two issues – mitigation and adaptation, and climate financing.

Mitigation and adaptation focus is on reducing or eliminating the sources of greenhouse gas emissions. They are designed to help societies cope with the unavoidable impacts of climate change.

This includes transitioning to clean and renewable work by providing a financial incentive for individuals, businesses, and governments to invest in activities that either reduce or remove GHG emissions from the atmosphere.

The concept behind carbon credits is to create a market-based mechanism that encourages emissions reductions, ultimately helping to combat global warming and achieve climate goals.


Also Read: EXPLAINER: Everything You Need to Know About Carbon Credits


It’s important to note that while carbon credits can play a role in reducing emissions, they are not a substitute for direct emissions reduction efforts.

The primary focus should always be on reducing emissions at the source through energy efficiency, renewable energy adoption, and sustainable practices.

Carbon credits should be used as a complementary strategy to offset emissions that are difficult or costly to eliminate entirely.

Financial Support – Climate Financing

Translating climate ambitions into tangible results requires not only robust policies and commitments but also adequate financial resources.

This is the cornerstone of climate action. Providing financial support to developing countries to help them adapt to and mitigate the effects of climate change is a key element of climate action.

Developed nations often contribute to climate finance to assist less economically advanced countries in their climate efforts.

Besides, countries like Kenya rely on international climate financing mechanisms such as the Green Climate Fund (GCF) and the Climate Investment Funds (CIFs). These funds provide financial support for projects and initiatives aimed at climate mitigation and adaptation.

But they are not enough 

Africa attracted only 2% of global spending on renewables over the last decade, according to the ACS2023 summit that ended in Kenya.  To enact proper mitigation and adaptation measures, Africa would need a “tenfold increase in the finance capital flowing” into renewables in the next seven years, some $600 billion, to achieve the aim of boosting renewables from 56 gigawatts (GW) in 2022 to at least 300 GW by 2030.

The climate change agenda is a complex and multifaceted global challenge that requires cooperation at all levels of society, from individual actions to international agreements.

Its ultimate goal is to limit global warming to well below 2 degrees Celsius above pre-industrial levels, with efforts to limit it to 1.5 degrees Celsius, to prevent the worst impacts of climate change and create a more sustainable and resilient future for us all.

Nairobi Declaration On Climate Change And Call To Action
Africa Climate Summit ended in Kenya with the Nairobi Declaration. PHOTO/PCS.
Tags: Africa Climate Summit 2023Climate ChangeClimate financing

James Wanjagi

Dr. James Wanjagi is a technologist, academician, strategist, and financial enthusiast and a contributor for The Kenya Times. He has a vast background in banking, fintech, and all things strategy. He is also the CEO, Iricon Consulting Group. James writes on matters finance and strategy.

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