Mobilizing Blended Finance for Climate Investments in Kenya
By Utsav Mulay, Climate Finance, ESG and Carbon Markets Expert at Intellecap
Kenya faces the formidable challenge of aligning its climate action with its development goals. The heart of this challenge lies in the financial mobilization required to transform these ambitions into tangible outcomes. According to the insightful "Landscape of Climate Finance in Kenya" report by the Climate Policy Initiative (CPI) in March 2021, a staggering $40 billion is required to meet Kenya's mitigation and adaptation needs by 2030 under its Nationally Determined Contribution (NDC) to the Paris Agreement.
Kenya's Climate finance needs span energy, agriculture, water, and forestry. In energy, Kenya aims to transition to renewable energy sources, such as wind, solar, and geothermal, to not only reduce its ...