Country: Kenya
UNEP-Finance Initiative(E-mobility) - Carbon Market Capacity Building for E-Mobility Companies.
About The Training
In October 2023, Verst Carbon, in collaboration with the UNEP Finance Initiative (UNEP-FI), facilitated a capacity-building program aimed at e-mobility companies in Kenya. This program was designed to equip participants with a comprehensive understanding of carbon markets and how e-mobility solutions can generate carbon credits.
By linking e-mobility efforts with carbon finance, the program sought to empower companies to leverage carbon markets for both environmental and economic gains. This initiative aligns with Kenya’s broader goal of reducing greenhouse gas emissions and promoting sustainable transportation solutions.
The Problem
As Kenya continues to push towards greener energy solutions, the e-mobility sector plays a crucial role in reducing emissions from the transportation sector. However, many e-mobility companies are unaware of how they can engage in carbon markets to generate additional revenue while contributing to the country’s climate goals. The complexities of carbon credit generation, verification, and trading create barriers for e-mobility companies to fully realize the financial potential of their emissions reductions. Additionally, limited knowledge of regulatory frameworks and the mechanisms of carbon finance further hinders participation in these markets.
The Solution
The capacity-building program provided e-mobility companies with the knowledge and tools needed to effectively participate in carbon markets. Through a series of interactive sessions, workshops, and expert-led discussions, participants were introduced to the intricacies of carbon finance and learned how their emissions reduction efforts could be translated into verifiable carbon credits. The program focused on practical applications, helping companies understand how to incorporate carbon finance into their business models and scale up their e-mobility projects through additional revenue streams.
Impact Made So Far
The capacity-building program had a direct impact on the participating e-mobility companies by enhancing their ability to generate and trade carbon credits. This new understanding of carbon markets has opened up additional revenue streams for these companies, making their business models more financially sustainable while contributing to Kenya’s climate goals.