Kenya Will Announce Green Bonds Policy Next Year

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Originally published on Planetsave.

One of Africa’s largest economies is set to announce a national green bonds policy next year.

According to media reports, the Kenyan government is working on a framework to chalk out a national green bonds policy. The first glimpses of the policy are expected when the government tables the financial budget for 2017/18 next year.

Capital Markets Authority CEO Paul Muthaura announced that his agency is working on proposals being shared by various stakeholders during roundtable discussions for the financial budget.

Kenya, being a member of several international conventions, is also working with foreign governments to borrow best practices while drafting its own green bonds policy. Mathaura stated that this agency is in contact with South African officials as the country is the largest green bonds market and a renewable energy leader in Africa.

Currently, infrastructure bonds in Kenya enjoy tax-free revenue; Mathaura said that similar tax incentives shall also be available to green bonds. The goal will be to make Kenya a regional hub for green bonds.

As the global green bonds market grows rapidly governments are now looking to develop specific policies to attract investors who prefer investments in low-carbon infrastructure. India and China are currently the only two countries that have issued national guidelines for issuance, use of funds raised, and listing of green bonds. Development of such government-backed policies and frameworks shall boost investor confidence and bring in more national and foreign funding to the low-carbon infrastructure.

Reprinted with permission.


Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Latest CleanTechnica TV Video


I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it!! So, we've decided to completely nix paywalls here at CleanTechnica. But...
 
Like other media companies, we need reader support! If you support us, please chip in a bit monthly to help our team write, edit, and publish 15 cleantech stories a day!
 
Thank you!

Advertisement
 
CleanTechnica uses affiliate links. See our policy here.