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Change the Story project focuses on nature-based solutions because of the extra benefits they provide to biodiversity conservation, the protection of landscapes, and community development. Together with our partners, we are convinced that local greenhouse gas emissions should preferably be compensated with locally produced credits. Therefore, Change the Story aims to deliver a proof of concept by connecting Kenyan private sector players with local biodiversity, reforestation or agroforestry initiatives, and intermediary organizations, like carbon credit auditing schemes.

Under this project, Sustainable Inclusive Business Kenya has developed and released a report titled “Change the Story: Developing a Local Carbon Market in Kenya.” The report describes the current situation and reflects on the opportunities for a Kenyan carbon market. This report is limited to the role of the Kenyan private sector in the voluntary carbon market (VCM) with a focus on nature-based solutions (NBS) in addressing global warming, biodiversity loss, and deforestation. The report was published with our partners and the global Sustainability Consultant Group, TheRockGroup. 

The future of the Kenyan carbon market looks bright. The potential for carbon sequestration is vast, and global demand is growing rapidly. However, the export-focused policy of the Kenyan government leaves Kenyan companies in the dark about domestic offsetting options. Even with the ongoing debate about the benefits of the growing market for carbon credits, the report found that Kenya has virtually no legal framework that would restrict credits to be issued or bought, no taxation of credits, nor the introduction of a mandatory carbon emissions market. Alternatively, the government has been noted to be firmly in favor of an active role of the private sector in reforestation and afforestation initiatives.