Deep within Kasigau, a vast wilderness of rugged hills and grasslands home to elephants, a dedicated team equipped with clipboards and measuring tapes is diligently studying an ordinary-looking tree.
Despite its gnarled and leafless appearance, this tree holds immense value as it stores carbon.
The team’s mission is to determine precisely how much carbon this semi-arid, half-a-million-acre woodland in southern Kenya holds.
Geoffrey Mwangi, the lead scientist at Wildlife Works, a US-based company, emphasized their commitment, saying, “We want to make sure we account for every single tree.”
The data they gather translates into carbon credits, which have been in high demand, fetching millions of dollars from corporate giants like Netflix and Shell looking to offset their greenhouse gas emissions and enhance their environmental image.
As climate change accelerates, there’s growing pressure on companies and nations to step up their efforts to combat it.
This has led to a surge in demand for carbon credits, despite some criticism.
Africa, a continent with enormous carbon-absorbing resources such as rainforests, mangroves, and peatlands, wants a larger share of the $2-billion carbon credit market, which is projected to expand fivefold by 2030.
Kenyan President William Ruto, who is hosting a climate summit in Nairobi this week, recognizes Africa’s carbon-rich ecosystems as a valuable economic opportunity.
He stated, “They have the potential to absorb millions of tons of CO2 annually, which should translate into billions of dollars.”
Each carbon credit represents the removal or reduction of one tonne of carbon dioxide from the atmosphere.
Companies purchase these credits, which are generated through activities like using renewable energy, tree planting, or forest protection.
While carbon markets are mostly unregulated and have faced criticism, Kenya has emerged as a significant player in Africa’s carbon credit market.
Despite market uncertainties, Kenya sees the potential for a thriving domestic industry that can create jobs and spur economic growth.
Ali Mohamed, the president’s special envoy for climate change, expressed their ambition, saying, “We have 25 percent of the African market (for carbon credits) in Kenya, and it’s our ambition to expand this.”
In Kasigau, located about 330 kilometers (205 miles) southeast of Nairobi, landowners and local communities are compensated to preserve the forest through a flagship carbon credit project managed by Wildlife Works.
Joseph Mwakima from Wildlife Works mentioned that the project’s revenue has employed approximately 400 people and financed critical infrastructure in an underserved part of Kenya, including water, education, and healthcare facilities.
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Wildlife Works founder Mike Korchinsky stressed that at least half of the revenue goes to the communities.
The forests protected under this scheme were once cleared for firewood and charcoal, which not only degraded a vital carbon sink but also disrupted critical wildlife habitats.
Preventing deforestation aligns with climate goals by keeping carbon stored in the soil and trees instead of releasing it into the atmosphere.
The Kasigau Corridor REDD+ Project became the world’s first to generate certified credits through this approach.
Wildlife Works reports that the project has been independently verified nine times since 2011 and has prevented approximately 22 million tonnes of CO2 emissions.
To provide context, Kenya emits about 70 million tonnes of CO2 annually, according to Climate Watch, a platform that tracks national greenhouse gas emissions managed by the World Resources Institute.
The UN-endorsed African Carbon Market Initiative, launched at COP27 in November, envisions the generation of 300 million credits annually across the continent by 2030, marking a 19-fold increase from current levels.
For Kenya, this could mean over 600,000 jobs and $600 million in annual revenue.
However, these projections depend on a higher carbon price than current trades and a significant increase in financing during a time of market instability and a struggle to establish trust and integrity.
Leading up to the Africa Climate Summit in Nairobi, over 500 civil society organizations wrote to President Ruto, urging him to steer the conference away from carbon markets and other “false solutions driven by Western interests.”
They expressed concerns that these approaches would allow wealthy nations and large corporations to continue polluting to the detriment of Africa.
Joseph Nganga, Ruto’s appointee to lead the summit, sees carbon markets as a means of ensuring accountability for rich polluting nations rather than an excuse for emissions.
Many countries are moving to regulate the sector; Zimbabwe, for example, recently announced its intention to claim half of all revenue generated from carbon credits on its land, causing unease in the markets.
Kenya is also in the process of finalizing its own legislation. Mohamed emphasized that the government aims to ensure transparency and a fair share for communities while not discouraging investors.
Korchinsky expressed confidence that the Kasigau project will withstand scrutiny, emphasizing its commitment to both environmental preservation and community well-being.
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