East Africa: Kenya misses out on carbon trading billions

Kenyan companies are missing billions of shillings in new revenue because of lack of expertise to develop projects that help reduce carbon dioxide emissions and therefore earn from the global carbon trading market. The global carbon trading market, which rewards projects that help reduce emission of carbon dioxide into the atmosphere, is now worth estimated Sh12.5 trillion ($170 billion), according to industry data provider, Carbin Point, but only a very small fraction of this money, estimated at two per cent, is coming to Africa.