Kenya in deal to set up East Africa’s first carbon offset exchange

Kenya on Monday opened the Nairobi International Financial Centre (NIFC), with a goal of attracting investment of more than $2 billion by 2030, and of setting up East Africa’s first carbon exchange. Singapore’s AirCarbon Exchange (ACX), which will develop the carbon exchange, said it will trade certified carbon offsets to help Kenya to finance environmental projects, including reforestation and land restoration, as it seeks to meet its climate commitments. “The carbon exchange will be an important element in Kenya’s sustainable finance ecosystem,” Kevin Iwanaga, president and chief operating officer – Middle East and Africa for ACX, said in a statement.

From:: Yahoo News – Sports