The Carbon Credit Trading And Benefit Sharing Bill, 2023

A draft Carbon Credit Trading and Benefit Sharing Bill, 2023 (the "Carbon Trading Bill") has been approved by the National Assembly Budget and Appropriations Committee for formal introduction to parliament. The purpose of the Carbon Trading Bill is to:

• establish a regulatory framework for the trading of carbon credits and benefit sharing in carbon credit trading;
• establish a Carbon Trading and Benefit Sharing Authority;
• provide for the registration and regulation of carbon trading business; and
• establish a Carbon Credit Trading Tribunal.

Please see the Parliament of Kenya's Fiscal and Policy Brief on the proposed Carbon Trading Bill here.

This comes hot on the heels of the recently published Climate Change (Amendment) Bill, which seeks to amend the current Climate Change Act No.11 of 2016 to provide a legislative framework for Kenya's participation in domestic and international carbon markets in pursuance of Kenya's obligations under the Paris