KEPSA on June 4, 2024 had the honour of participating in a pivotal event organized by the Kenya Extended Producer Responsibility Organisation (KEPRO). The focus of the meeting was to explore the role of green financing in driving sustainable development and fostering a circular economy in Kenya. Dr. Jackson Koimbori, Senior Circular Economy & Climate Change Coordinator at KEPSA, represented the alliance, contributing his expertise to an engaging and insightful discussion on green finance and its implications for Kenya's future.

The event commenced with opening remarks from James Odongo, CEO of KEPRO, who set the agenda for the day. The morning sessions featured key speeches from Felix Magaju, Joseph Murabula the Chief Executive of Kenya Climate Innovation Centre (KCIC), and Stephen Muli, Board Chair of KEPRO. They highlighted the significance of integrating green financing into the economic framework and the investment opportunities available in Kenya's quest for realizing a circular economy. Hon. Nasra Nanda, CEO of Kenya Green Building Society (KGBS), graced the occasion as the Chief Guest, emphasizing the need for collaborative efforts to achieve sustainable development goals.

Dr. Koimbori participated in a panel discussion that focused on "Understanding Green Financing Instruments & Mechanisms." Moderated by Wambui Mbarire, the KEPSA Devolution and Planning Sector Board Vice Chair and Retail Trade Association of Kenya (RETRAK) CEO, the discussion delved into various green finance instruments such as green bonds, carbon markets, sustainability-linked loans, and impact investing. Dr. Koimbori, alongside other esteemed panellists including John Kabuye, The Vice Chair, Land & Physical Planning Sector Board KEPSA and ESG Lead at Acorn Holdings Limited, explored how these instruments can mobilize capital towards environmentally beneficial projects, highlighting successful case studies such as KenGen’s green bond for geothermal energy expansion and Acorn Holdings' green bond for sustainable student housing.

The panel discussion also addressed strategies for small and medium-sized enterprises (SMEs) to pioneer sustainable and scalable business practices to attract green financing. Dr. Koimbori emphasized the importance of adopting green technologies, managing sustainable supply chains, innovating products and services, obtaining relevant certifications, and maintaining transparent reporting and impact assessment. He noted that these practices not only attract green investors but also contribute significantly to reducing operational costs and enhancing brand value.

The meeting concluded with a plenary session where participants engaged in a vibrant Q&A, sharing insights and discussing the next steps for promoting green financing in Kenya. The event underscored the critical role of the private sector in driving the green agenda and the need for continuous collaboration between businesses, government, and financial institutions.