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Climate change financing in Kenya

Vincent Mutie Nzau

Briefing, 4 pages

Kenya has adopted a climate-resilient green economy pathway to achieve sustainable development by 2030. Financing its Climate Change Action Plan will cost US$2.75 billion per year, but so far demand for climate change finance exceeds supply. To realise its bold ambitions, Kenya will need to tap all sources of climate finance available. Currently, it is estimated that both public and private sectors from international and domestic sources have invested cumulatively around US$3.2 billion in projects and programmes. The lack of a climate-specific budget code makes generating time series data a difficult task, but Kenya has been able to mobilise close to US$1 billion per year. This is good, but more needs to be done if the $2.75 billion a year target is to be achieved.

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