KIPPRA in collaboration with Development Initiative held a stakeholder workshop on mobilizing climate finance for sustainable development in Kenya: challenges and opportunities in the global financial architecture on the 22nd of August, 2023 in Nairobi County.
The event aimed to bring together experts and practitioners to discuss proposals to reform the global financial architecture and strategies to enhance climate change and other Global Public Goods such as health and security financing. The workshop was graced by KIPPRA’s Executive Director, Dr Rose Ngugi and Delivery, Quality and Impact Lead at Development Initiative, Martha G. Bekele.
There were presentations on Global Public Investment and its role in Climate Change Financing in Kenya. Ms. Bekele made a presentation on introduction to Genuine Progress Indicator (GPI), highlighting the current challenges and opportunities in the global financial architecture reform. She highlighted that GPI is a useful complement to traditional economic indicators, due to it being a great improvement in evaluating environmental and social costs.
Senior Policy Analyst, Dr Babu Ochieng made a presentation on the role of GPI in climate change financing in Kenya. He provided an overview of climate change financing in Kenya, the challenges with the current global financial architecture and the role of GPI in addressing the challenges.
The participants were drawn from Development Initiatives, International Food Policy Research Institute (IFPRI), Kenya Vision 2030, African Population and Health Research Center (APHRC), Nairobi City County Government, University of Nairobi (UON), National Environment Management Authority (NEMA), State Department for Economic Planning, State Department for ASALS, Global Public Investment Network, Central Bank of Kenya and Christian Aid Kenya.
Participants through panel discussions shared their insights on challenges facing Kenya in utilisation of its climate finance and challenges faced by developing countries in accessing climate change financing.
