KCIC Consulting yesterday joined KEPSA to launch the Private Sector Strategy on Climate Change in Kenya. The Strategy has been developed as a national guide for the private sector to invest and implement climate change solutions at national and county levels in line with the reviewed Kenya’s Nationally Determined Contribution (NDC).
The Strategy prioritizes private enterprises vulnerable to the impacts of climate change, including MSMEs, and is anchored on four pillars as follows:
a) Climate change mitigation ambition
b) Climate change adaptation and resilience
c) Climate information and capacity building
d) Public Private Partnerships (PPPs) for climate solutions
In a statement, KEPSA CEO Carole Kariuki said, “The private sector in Kenya is ready for action! KEPSA will consolidate efforts by the private sector in contributing to the achievement of climate action and sustainable development.”
The Strategy lays the foundation for Business Commitment to Climate Action in Kenya (B2-CAK), comprising Corporate Commitment to Climate Change in Kenya (4CK) and SME Commitment to Climate Action in Kenya. The Strategy will guide the design of climate SMART business models and strategies, create awareness and capacity amongst private sector members, pool resources towards climate change investment and green recovery from the COVID-19 pandemic, and inform the design and implementation of climate change solutions in Kenya.
Speaking during the launch, Prabhakar Vanam, KCIC Consulting CEO, said, “I am honored to be part of the launch of the Private Sector Strategy on Climate Change Solutions in Kenya. It is exciting to see many organizations come together to find solutions to the pressing issue of climate change and design initiatives that build resilience among communities.
I believe the private sector is critical in the climate action space. KCIC Consulting is working with different partners to support the development of sustainable green businesses in Kenya. In this course, we are open to more meaningful partnerships; our goal is to ensure we collaboratively respond to climate change and achieve low carbon growth and development.”
So far, KCIC Group has created over 18,000 sustainable jobs across the country. Vanam also highlighted that the private sector is responsible for advocating for sustainability. “By adopting and implementing the 10-point charter developed by KCIC Consulting last year, the country stands to reduce emissions tremendously’” he said.
Currently, KCIC Consulting is working with EIT-Climate KIC and Concree SAS to implement the Adaptation and Resilience ClimAccelerator in Africa for early to mid-stage start-ups from October 2022 to May 2023.
Funded by the Department of Foreign Affairs and Trade of Ireland (‘Irish Aid’), the A&R ClimAccelerator aims to support 16 teams from across the African continent with solutions that address physical climate risks or build the resilience of communities. The selected start-ups will receive tailored business coaching, professional guidance on finance, support defining the climate impact potential of their solution, and preparation for future investment opportunities. Applications can be made online here.