Government on the last lap to establish a carbon trading system

The government is in the final stages of establishing a carbon trading system.

This is set to will minimize emission of greenhouse gases by companies through incentives.

During a virtual meeting with the EU Green Diplomacy webinar, National Treasury Cabinet Secretary Ukur Yatani said the State is finalising the establishment of the Kenya Emissions Trading System.

The system will oversee the trading.

Yatani said once established, companies and other organisations will be able to buy emission allowance.

He added that to date, Kenya has attached about 4.6 billion USD for green projects in various sectors, with the green energy sector accounting for 40 per cent.

The approximately 85 billion sh Lake Turkana Wind Power Project is one of such.

The system will ultimately be aided to deter companies from releasing pollutant matter to the environment. Additionally, it encourages recycling in viable cases.

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