KEPSA, in collaboration with Kenya Climate Innovation Center (KCIC), the Standard Media Group and the World Wide Fund for Nature (WWF), organized the Corporates in Climate Action Breakfast on 6^th July 2022 and launched the Corporates Journey to Conference of Parties 27 that will take place in Egypt later in the year.  

The Chief Guest was the Cabinet Secretary in the Ministry of Environment and Forestry Mr Keriako Tobiko, who shared reflections from the just concluded Oceans Conference in Lisbon, Portugal. He noted that there exists a close relationship between the oceans, which constitute 71% of the planet’s carbon cycle. Oceans absorb 25-30% of carbon emissions and provide 61% of oxygen. “The planet is hotter than before, we have destroyed our forests, polluted our rivers and lakes, and the future generation will bear the brunt of our actions or inaction,” He warned. 

Linked to climate change are other intercontinental crises of land and ecosystems degradation, biodiversity loss of species, destruction of habitats, pollution and waste. Prosperity should not be at the expense of the planet. Businesses should therefore integrate environmental dimensions in their business models. The business contribution should not be CSR-based, green wishing or tokenism. No country is immune to the impacts of climate change. It is no longer business as usual, and in addition to the 10-point charter, it’s important to draw decarbonization strategies, review internal and operations systems for carbon emissions and other externalities, and drive green innovations.

On the road to CoP 27, taking place in Egypt later in the year, the Cabinet Secretary remarked that there will be a consolidated African Voice. The unified African voice is key in CoPs engagements, and all stakeholders, including industry and civil society, have the opportunity to participate in the negotiation process. The country position paper should be inclusive of all stakeholder voices. There is also an opportunity to showcase corporate leadership in climate change through regional and global forums and the pavilion.

Dr John Wandaka – Vice-Chair, KEPSA Environment, Water and Natural Resources Sector Board highlighted the progress of consolidating and coordinating business climate actions in Kenya. He noted that through the Climate Business Information Network, KEPSA has established a network of businesses integrating climate change in their business strategies and models to ensure that business climate action is a strategic intervention across the business value chains.

Kenya’s updated NDC is more ambitious in seeking a collective action to reduce emissions to 32% by 2030. Towards this end, KCIC, in partnership with KEPSA, convened the Private Sector in Kenya to make Corporate Commitments on climate action. The 4CK conference culminated with over 50 private sector organizations’ committing to the 10-point charter, demonstrating their commitment and ownership to reducing green gas house (GHG emissions) and building the resilience of the economy against climate shocks.

While appreciating the efforts made to enhance business climate action, it’s clear that there are gaps that require multi-stakeholder engagement. The Barrier Analysis study conducted by KEPSA and FAO with support of the GCF NAP Readiness Support Project under the National Treasury and Planning in 2020 showed that the private sector in Kenya faces four key barriers in order to fully engage in business climate action; many private sector actors do not have sufficient technical capacities to design and implement adaptation and mitigation initiatives due to technical language of climate science as responded to by 71% of the respondents,  information gaps including outcomes of CoP negotiations by 42.3%; Access to Finance and weak climate finance Market – at 50% and Policy and Regulatory Constraints including incentives at 80%.

The journey to CoP 27 highlights private sector innovative solutions to climate change, the green innovation challenge, the green investment forum, and the policy dialogues on climate change governance will further position the private sector in the CoPs and associated national, regional, and global forums for advancing the climate action. The partnership on the Journey to CoP27 will be a fruitful one in showcasing the private sector’s role and contribution to the global climate change. Through KEPSA’s partnership with KCIC, Standard Group, WWF, and Society of Crops Agribusiness Advisors of Kenya, among other players, the Journey to CoP27 will be an opportunity to showcase the private sector role and contribution to the reduction of climate change impacts.

Other speakers who spoke and shared their perspectives on the private sector and climate change include Mr Joe Munene – Standard Media Group; Dr Olofunso Somorin – Principal Officer, AfDB; Mr Samson Toniok – CEO NETFUND, Dr Edward Mungai – Lead Consultant KCIC, Ms Karen Basiye – Director Sustainable Business Safaricom and also Vice-Chair, KEPSA Environment, Water and Natural Resources Sector Board.