Unlocking nature-based solutions through carbon markets in Kenya

An effective and efficient transition to low-carbon economies will be required over the next three decades to achieve the goals of the Paris Agreement and avoid the worst impacts of a changing climate. In addition to cutting greenhouse gas (GHG) emissions in half each decade, the global economy must also make significant investments in carbon removals to have a high probability of limiting warming to 1.5°C or 2°C by 2100.

Nature-based solutions (NbS) – actions that protect and enhance carbon stored in natural ecosystems and reduce GHG emissions – are essential climate strategies, yet only receive a fraction of global finance.

Considering the lack of financing for mitigation in the land sector, it is important that countries like Kenya use climate finance strategically to maximize adaptation and mitigation benefits.

This technical report is one in a series produced by Climate Focus and the Food and Land Use Coalition (FOLU). Since September 2021, Climate Focus and FOLU have been collaborating on a research project around financing strategies for terrestrial nature-based solutions (NbS) at a country and global level. The ultimate objective of the project is to enable public and private decision-makers to prioritize and deploy activities and investments that will unlock the potential of NbS for climate mitigation, adaptation, resilience, biodiversity and beyond. Our current report series includes the publication of country-based assessments in Kenya & Colombia, as well as global analyses focused on the voluntary carbon market.

Related reports in this series include: Unlocking nature-based solutions through carbon markets in Colombia
Other related pieces include: Study seeks to guide investors to mitigation opportunities in forests and agriculture