Kenya will begin to transfer its carbon credits earned from the reduction of green-house gasses emissions to help Singapore meet its Nationally Determined Contributions (NCS).
This follows a deal by the two nations at a meeting held in Nairobi, Kenya. The deal, Singapore Prime Minister Lee Hsien Loong, said will allow them to take advantage of carbon credits which Kenya will be able to provide.
The Memorandum of Understanding with the Kenyan President William Ruto, in line with Article 6 of the Paris Agreement. The article provides a framework for the trade of carbon credits between two countries.
“Our Ministers have signed an MOU on Carbon Credit Collaboration, which provides a framework for the trading of carbon credits between our two countries in line with the stipulation of the Paris Agreement,” President Ruto said.
Speaking at a joint press conference, Prime Minister Loong said there was an urgent need for global actions on the climate change crisis.
“Human beings, wildlife, and cattle are threatened when the climate gets extreme,” he noted.
The Prime Minister also threw his weight behind the upcoming African Climate Action Summit set for Nairobi between September 4 to 6. The meeting President Ruto emphasized will generate an African position ahead of COP28, in UAE.
“”The summit will cohere a common African position for COP 28 including an articulation of climate finance and climate investment solutions for climate action,” said Ruto.
Prime Minister Loong has been in Kenya for a two day state visit.