EIB Climate Survey in Kenya
These are some of the key findings from the first African edition of the European Investment Bank’s (EIB’s) 2022 Climate Survey. The EIB is the lending arm of the European Union and the world’s largest multilateral lender for climate action projects. Since 2018, the EIB has conducted similar large-scale climate surveys across Europe, China and the United States.
Kenya’s renewable energy sector is driven by a good mix of renewable energy, including geothermal, wind, hydro- and some utility-scale solar power. Kenya is already in the top 10 countries globally in terms of electricity generation from geothermal power, with close to 1 000 MW of installed capacity.
This is a sign of Kenya’s strong commitment to global climate action, along with the country’s ambitious nationally determined contribution under the Paris Agreement.
The EIB has partnered with the Kenyan government and private sector players in their work to promote the global green energy transition, taking it to the next level with climate mitigation measures in the transport and industry sectors. This is evident from the recently commissioned Olkaria Unit 6 geothermal plant, supported by the EIB. The plant will further strengthen Kenya’s ranking as a country with one of the highest shares of renewable energy (wind, solar and geothermal) in the world.
Henriette Geiger, EU Ambassador to Kenya: “Kenya has remarkable renewable energy resources that can be enablers to a green and sustainable economy if fully harnessed. The EU Delegation is ready to support Kenya in moving towards a more regenerative economy, to help mitigate the negative impacts of climate change. With the Global Gateway, the EU and EIB intend to promote further large-scale investments across Africa“
Thomas Östros, vice-president of the EIB, said: “The EIB is working closely with Kenyan partners to accelerate the green transition and to mobilise climate action investment, including support for large-scale clean energy, sustainable transport, water and wastewater management.”
Climate change and environmental degradation
The survey results confirm that climate change has negatively affected the livelihoods of Kenyan people, with 76% stating that their income has been affected. These losses are typically due to severe drought, rising sea levels or coastal erosion, or extreme weather events such as floods or hurricanes.