Country specific Initiatives Kenya

Policy and Sustainability Report

Through the Sustainable Use of Natural Resource and Energy Finance (SUNREF) Programme, KAM continued to provide financial solutions to green energy initiates, and with the aim of mitigating climate change.
The programme offered technical assistance to project developers who wish to implement renewable energy and energy efficiency projects and supported local financial banks in the region under which the credit facility of the programme is channeled.
Achievements • Built a project portfolio of over 300 projects in hydro, solar, biogas, biomass and energy efficiency and energy service companies (ESCOS) and real estate and financed 26 projects • Provided 70M USD in form of debt financing to various projects worth over 90M CAPEX through the local financing institutions signed under the programme • Over 220 staff members of these banks trained on energy efficiency and renewable energy. • The projects installed are able to generate 43Gwh/yr while the energy efficiency projects have seen 16Gwh/yr being saved per year through utilizing efficient measures. The programme has been able to displace 36K tCO2eq/yr. The SUNREF program is a French Development Agency (AFD) Green Label programme.

Green Bonds Guidelines

The background document for the Kenya green bond guidelines has been developed as part of the Green Bond Program – Kenya, which aims to develop a domestic green bond market. The Programme is brought together by the Kenya Bankers’ Association, Nairobi Securities Exchange, Climate Bonds Initiative, Financial Sector Deepening Africa and the Dutch development bank FMO. Green bond guidelines are an important tool to give guidance to issuers and lower friction in the market. The Kenya green bond guidelines are issued by the Nairobi Securities Exchange and approved by the Capital Markets Authority. The paper aims to support the consultation process on the guidelines with Kenyan market participants.