The Kenya Private Sector Alliance (KEPSA) has launched a strategy that aims to promote coordinated and inclusive business climate change solutions across the sector.
The Kenya Private Sector Strategy On Climate Change Solutions 2022-2030 is anchored on climate change mitigation, climate change adaptation and resilience, climate information and capacity building, and Public-Private partnership for climate change.
It aims to be a reference point for the private sector decisions on climate change in addition to providing the sector with steps towards enhancing climate change mitigation and adaptation through investment, awareness creation and channeling resources to combat climate change for business sustainability.
Speaking during the launch, KEPSA Deputy Chief Executive Officer (CEO) Martha Cheruto, noted that the private sector faces significant exposure to climate risk through its assets, operations, and supply chains and thus has considerable reasons to invest in climate risk management, to not only protect itself but also to harness new business opportunities arising from the changing climate.
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“The Private Sector Strategy on Climate Change Solutions in Kenya identifies actions that the private sector will take between 2022 and 2030 in contributing to the achievement of the government climate change targets and is positioned to be Kenya’s Business Commitment to Climate Action(B2CAK) for both Corporates and SME’s,” said Cheruto.
The strategy has incorporated approaches from different stakeholders through The Green Climate Fund (GCF) whose outcome intends to strengthen and institutionalize the private sector involvement and investment in climate change adaptation.
While delivering the keynote address on behalf of Principal Secretary (PS) Ministry of Environment and Forestry Chris Kiptoo, Director General of the National Environment Management Authority (NEMA) Mamo Boru Mamo lauded the strategy as it offers the private sector an opportunity to set institutional and strategic mechanisms to galvanize sector-wide resources toward a unified national climate change priorities approach.
“Addressing the impacts of climate change and promoting green growth, necessitates a concerted effort from both the state and non-state actors,” he said.
FAO Kenya Deputy Representative Hamisi Williams noted the adverse climatic events in the country have not only had an impact on the socioeconomic activities in the country but have also contributed to the derailing of the country’s economic development.
The launch comes ahead of the 27th session of the Conference of Parties (COP 27) to the United Nations Framework Convention on Climate Change (UNFCC) slated for November 7 to 18 in Egypt.
The convention aims to boost climate conversations, mobilize action and provide an important opportunity for stakeholders to consider emerging issues and the impact they have on climate change in Africa.
SOURCE: Capital business
