Thursday, May 6, 2010

Kenya Turns to Carbon Trade in a Bid to Curb Climate Change


PM Raila Odinga - of Kenya
Kenyan Prime Minister Raila Odinga has  said the 
countryis keen to partner with investment bankers to
 promote trading in carbon markets and  ensure the 
rehabilitation of the Mau and other threatened forests 
in the country. “ We see opportunities in the evolving 
carbon markets as negotiations continue under the UN 
Framework Convention on Climate Change that 
established the Reducing Emissions from forest 
Destruction and Degradation (REDD) plus initiative” he said.
The Premier  will be visiting Norway, in three weeks time to push for a fair share 
of the US$ 30 billion under the REDD plus project and help boost carbon trade in 
Kenya. The REDD plus initiative was mooted last year during the Global conference
 on Climate Change held in Copenhagen to help the developing countries mitigate 
the effects of climate change towards the reduction of the level of green house
In a conference held at the UN EP headquarters in Nairobi  last month the 
government committed  itself to support the restoration programmes but 
the financial implications had outstretched the national budgetary allocations.
The government has opened talks with other Carbon trading countries  to  
embark  on forestry development programmes, toward mitigating the effects 
of climate change. He said efforts to meet challenges of Climate Change were 
geared to stem carbon emissions and shifting to green energy production to 
reduce the vagaries of Global warming towards a sustainable development.
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