FSD Kenya led Consortium evaluates Taita Taveta’s potential to access the Green Bond Market

Taita Taveta County is earmarked for green bond potential assessment, a move geared towards unlocking additional resources for mitigating ravaging effects of climate change through green financing, Financial Sector Deepening Trust Kenya (FSD Kenya) has said.

According to FSD Kenya, the county is among 9 counties targeted for development support through inclusive financial markets in Kenya.

In a brief meeting held at the governor’s boardroom in Mwatate, the FSD-Kenya Chief Executive Officer Tamara Cook said “green county bonds present an opportunity for counties to generate resources for the much-needed development of county infrastructure such as water piping, county roads and the development of agriculture,”

The 9 counties; Vihiga, Nandi, Laikipia, Kisumu, Wajir, Nairobi, Embu, Makueni and Taita-Taveta have been selected based on representation from each region and regional bloc, ensuring regional balance.

Capital Markets Authority, Nairobi Securities Exchange NSE, ADA Consortium and Augusto & Co are among partners in the Green Bond project.

Hosting the delegation, Deputy Governor Christine Kilalo added, “As a county we are experiencing increase in population with decrease in forest cover as a result to human activities. Our utmost wish is to have environmental friendly programmes and projects that upon implementation will help mitigate effects of climate change,”

Taita Taveta Water & Sanitation, Climate Change, Environment and Natural Resources Executive Committee Member Grantone Mwandawiro said under the stewardship of Governor Andrew Mwadime, the county remains committed to exploring the Public Private Partnership for poverty alleviation through sustainable projects.

“Our main challenge as a county has been lack of adequate and reliable funding, its through such opportunities that we get to utilise our resources effectively and succeed in fight against human wildlife conflicts, building the water resources infrastructure as well as initiating programs that will reverse the current climatic situation in Taita Taveta,” he said.

FSD-Kenya will till Friday host county government officials drawn from various departments as well as County Civil Society and Private sector for a workshop at Vacant Resort Hotel Voi. The 4 day exercise will help equip officers with knowledge on areas of collaboration including opportunities in the bond market, green bond market regulatory framework among others.

Economic and fiscal assessment, credit risk assessment, Green asset & activity assessment and Green finance capability assessment are among areas to be assessed before the official launch of the report on May this year.

source: KBC post

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