Governance Levers for Ensuring Equity and Justice in Carbon Markets in Kenya
University of Oxford
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Abstract: This research report explores how Kenya?s evolving carbon market?under both Article 6 of the Paris Agreement and Voluntary Carbon Markets?can deliver just and equitable climate outcomes through governance reform. Drawing on field interviews and grounded in Kenya?s 2024 Carbon Market Regulations, the authors propose four governance levers: (1) recognizing and addressing resource inequalities (especially gendered land use and ownership), (2) crowding in domestic capital and de-risking investment to support smaller developers, (3) linking carbon credit projects to long-term poverty alleviation and resilience through inclusive co-benefits, and (4) building stakeholder knowledge and institutional capacity across the value chain. The report emphasizes environmental and social safeguards, free prior informed consent (FPIC), and intergenerational equity. It also provides insights on how multi-layered governance?comprising formal regulation, sectoral policy, and voluntary practice?can improve transparency, benefit sharing, and institutional legitimacy in Kenya?s carbon credit landscape.