Chair ISSB - rewriting economics together, otherwise climbing
Back to Nairobi. Grateful to Capital Markets Authority- Kenya, ICPAK (Institute of Certified Public Accountants of Kenya) and Nairobi Securities Exchange all incredibly committed to the International Sustainability Standards Board (ISSB) Standards, with adoption announced in September last year. Many discussions about the proportionality and scalability brought into our Standards. And need for capacity building. Enlightened conversation with H.E. Kenya President Ruto and his team on how the IFRS Sustainability Standards can pave the way to putting nature on the balance sheet of Africa, using the multi-capital regeneration model of the Integrated Reporting Framework, and the decision that IPSASB will use our standards for public sector and government sustainability accounting. Kenya is progressing on its carbon market agenda. We discussed concrete evidence from my own experience in Kenya of projects like Hifadhi, run by Livelihoods Venture which provides improved cookstoves manufactured locally near Nairobi, made affordable due to the inclusion of carbon credits in the economics. As wood is still n1 energy source in rural areas for cooking on 3 stones, Hifadhi is stopping deforestation on 2,500 ha with 2-3 times more efficient combustion, also saving several hours of daily hard wood collection work for women and improving living conditions and cooked nutrients for more than 500,000 people. We also discussed carbon-credit based solutions for soil regenerative farming, saving water and increasing yields in the Rift Valley. Robust carbon market infrastructure informed by global standards and supported with appropriate fiscal incentives will harness the full market potential for sustainable living solutions.
Laure Paugam, tu rencontres Emmanuel Faber?
Incredible progress being made in Kenya towards sustainability standards adoption! Keep up the great work!