Kenya plans to establish an emissions trading scheme that will enable businesses and other entities to purchase emissions allowances, according to the Kenyan Treasury, as the country works to reduce greenhouse gas emissions.
Emissions trade is a pollution-control system in which a central authority grants a finite number of licenses for the emission of certain greenhouse gases. Companies may then purchase and trade these licenses.
Many nations have a carbon price to achieve global targets, either as a levy or as part of an emissions pricing or cap-and-trade scheme in which businesses or countries are subject to a carbon quota.
Mr Yatani said the system would be managed through a national carbon credits and green assets registry, also soon to be established.
Africa produces little of the greenhouse gases, such as emissions from coal-fired plants, that most scientists link to rapid climate change.
However, since most of its population is rural, and heavily reliant on rain-fed agriculture, it is commonly regarded as the continent most vulnerable to climate change.
