SNAPFI CASE STUDY Transforming the finance sector with Kenya technical assistance JUNE 2021 Ksh About this report Published in June 2021 Project Strengthen National Climate Policy Implementation: Comparative Empirical Learning & Creating Linkage to Climate Finance – SNAPFI Website: https://www.diw.de/snapfi This case study serves as an input to the thematic study 2021. Project number 820043 Financial support This project is part of the International Climate Initiative (IKI). The Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) supports this initiative on the basis of a decision adopted at the German Bundestag. www.international-climate-initiative.com Report design and cover by Wilf Lytton
[email protected] Download the report http://newclimate.org/publications/ SNAPFI CASE STUDY Transforming the finance sector with Kenya technical assistance JUNE 2021 AUTHORS Silke Mooldijk Katharina Lütkehermöller WITH CONTRIBUTIONS FROM Marie-Jeanne Kurdziel and Julie Emmrich © NewClimate Institute 2021 Contents Introduction 1 The Green Bonds Programme Kenya and wider financial 5 sector reforms Enabling factors and barriers to the Green Bonds 9 Programme Kenya 3.1 Enablers 10 3.2 Barriers 13 Technical assistance activities and their contribution to 16 transformative change 4.1 Technical assistance 17 4.2 Six principles of transformative change 18 4.3 Technical assistance in the context of Kenya’s Green Bonds 19 Programme Lessons learned 5.1 Lessons for public authorities 25 5.2 Lessons for providers of technical assistance 26 Acknowledgements 29 References 30 iv List of figures Figure 1 Milestones in Kenya's climate policy framework and the Green 6 Bonds Programme Figure 2 Overview of the most relevant actors involved in Kenya's Green 7 Bond Programme v View of Kilimanjaro from Amboseli National Park by Sergey Pesterev CHAPTER ONE Introduction In its updated NDC, Kenya commits to reduce its greenhouse gas (GHG) emissions by 32% below business-as-usual levels by 2030 and to ensure a climate resilient society.