Kenya Proposes Green Fiscal Incentives Policy

The Kenyan government has recently proposed a new Green Fiscal Incentives Policy to encourage green investments and promote environmental sustainability. The policy, which is currently open for public comments, outlines two main initiatives that the government hopes will help reduce the country’s carbon footprint. The first initiative proposes the establishment of a Green Investment Bank to facilitate access to concessional financing for green investments. This would allow businesses and individuals to borrow money at lower interest rates in order to invest in projects that have a positive environmental impact. The second initiative outlined in the policy suggests exploring the possibility of introducing a Carbon Tax on certain products or services with high emissions. This could be used as an incentive for companies and individuals to reduce their emissions by encouraging them to switch to greener alternatives. The Kenyan government has stressed that this policy is not meant as a punitive measure but rather as an incentive for people and businesses to make environmentally conscious decisions. They are hoping that these initiatives will help reduce Kenya’s carbon footprint while also providing economic benefits such as job creation and increased investment opportunities. The public is invited to give their comments on the proposed policy until April 30th via https://t.co/uC2GYDYulu . The Kenyan government hopes that this policy will be implemented soon in order to help protect the environment while also boosting economic growth in the country.