President Ruto Signs Groundbreaking Carbon Credit MOU, Propelling Kenya and Singapore towards a Climate-Resilient Future

On May 18, 2023, President William Ruto of Kenya signed a significant Memorandum of Understanding (MoU) on Carbon Credit Collaboration with Singapore. This landmark agreement, in accordance with Article 6 of the Paris Agreement, establishes a robust framework for the trade of carbon credits between the two countries. During a joint press conference in Kenya, Singapore Prime Minister Lee Hsien Loong stressed the crucial importance of this MoU in the fight against climate change and achieving low carbon emissions in both states.

Under this MoU, Singapore will leverage the carbon credits provided by Kenya, giving them a valuable opportunity to address their carbon reduction targets. Prime Minister Loong also expressed the pressing need to combat the climate change crisis, considering it a grave global problem that poses a severe threat to humans, wildlife, and livestock.

President Ruto echoed Kenya's unwavering commitment to addressing climate change and emphasized its status as the greatest existential threat to mankind. Stressing the significance of collaborative action, Ruto highlighted the signing of the MOU on Carbon Credit Collaboration by the ministers of both countries. This framework facilitates the trading of carbon credits in accordance with the stipulations of the Paris Agreement.

In line with Article 6 of the Paris Agreement, Kenya will have the ability to transfer its earned carbon credits from reducing greenhouse gas (GHG) emissions to support Singapore in meeting its Nationally Determined Contributions (NDCs). Furthermore, Prime Minister Loong expressed his support for the forthcoming African Climate Action Summit in Nairobi, scheduled from September 4 to 6. Ruto added that the summit aims to establish a unified African position for the 28th Conference of the Parties (COP 28), including articulating climate finance and investment solutions for effective climate action.