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{
    "id": 1283034,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1283034/?format=api",
    "text_counter": 51,
    "type": "speech",
    "speaker_name": "Sen. Cheruiyot",
    "speaker_title": "The Senate Majority Leader",
    "speaker": {
        "id": 13165,
        "legal_name": "Aaron Kipkirui Cheruiyot",
        "slug": "aaron-cheruiyot"
    },
    "content": "I hope when the Cabinet Secretary eventually sends the regulations on the people who will monitor the national determined contributions and those participating in the carbon markets, they will set up local enterprises. In fact, this is such an important natural resource because the rest of the world does not have it. They are craving it and that is why they are investing here as a way of offsetting --- Mr. Speaker, Sir, in this conversation of the climate change, people made commitments in Paris. They were happy because they thought maybe nobody would be keen enough to follow through the agreements that the rest of the world signed on to those protocols. Subsequently, they followed and did the same in Kyoto in Japan. They imagined it would never get to a time such as now, where because of the great ravaging effects, everybody is now saying: “We made commitments, let us live through to our commitments.” If we are not careful to monitor through these commitments, people will take advantage of us. This is such a strategic national asset. In this regulations, perhaps our colleagues who sit in the Committee on Delegated Legislation, should even demand that companies which will be licensed to monitor this market, be 100 per cent local. Let them be fully owned by Kenyans. It is only a Kenyan that believes in their own country. They will want the best for their own nation. Mr. Speaker, Sir, I cannot run to be the Senator of Tana River County because I do not even own a cat there. If I go there, people will ask what I know about the place. The same principles should apply if you want to monitor the market here. Let it be done. There are competent Kenyans who understand this place and can do it. I will be looking forward to it after the Africa Climate Summit is done and they send the regulations to Parliament so that we lock this space purely for Kenyan markets. Mr. Speaker, Sir, Clause 15 of the Bill, as I conclude, seeks to amend Section 35 of the Bill to renumber the existing provisions of subsection (1) and introduce an amendment to indicate the section that does not apply to the entities that have existing carbon projects for a period of a year. I like that it is being monitored yearly. Otherwise, if you just get a single approval and leave it at that, it is possible that people will do funny things, as I have mentioned. They will quote it so that their books look beautiful before their investors to show that they are offsetting carbon credits in Kenya or whichever part of the world, but they do not follow it with other investments. After commissioning a project, if we measure it yearly as it is provided here, we will be able to track progress. For example, at the beginning of the year 2023, a project was at 50 per cent, and in 2024, it is at 65 per cent and projected to be concluded on time. That is the importance of Clause 15. Clause 16 of the Bill, inserts new paragraphs on the regulations of carbon markets, carbon trading, carbon registries and non-market approaches. Carbon trading may not be a stand-alone solution in combating climate change. I do not want to be a snake oil salesman where somebody will look at the HANSARD a few years down the line and say that when the Senate Majority Leader, was moving this Bill in 2023, he The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard Services,Senate."
}