This site uses cookies. By continuing to use this site you consent to our use of cookies. Close

Africa Legal

Africa Legal

  • NEWS
  • JOBS
  • COURSES
  • CLIENTS
    • Sign in
    • Sign up
  • NEWS
  • COURSES
  • JOBS
    • Sign In
    • Sign Up
  • News
  • Courses
  • Jobs
  • Events
  • Business A-Z
  • Post a job
  • Contact Us
  • Clients
CLIENT SIGN IN
Country
  • Uganda
  • South Africa
  • Kenya
  • Nigeria
  • Cameroon
  • United Kingdom
  • Cote d'Ivoire
  • Ghana
  • Tanzania
  • Zambia
  • Botswana
  • Morocco
  • Zimbabwe
  • Mauritius
  • Mozambique
  • Sudan
  • Rwanda
  • Ethiopia
  • Angola
  • Egypt
  • Togo
  • Mali
  • South Sudan
  • Swaziland
  • Senegal
  • Malawi
  • France
  • Guinea
  • Middle East
  • Democratic Republic of the Congo
  • Gambia
  • Sierra Leone
  • Germany
  • Algeria
Category
  • Profiles
  • Analysis & Opinion
  • Career advice
  • In-house
  • Latest news
  • Press releases
  • Africa Legal Blog
  • Women in Law
  • Innovation
  • Human Rights
Practice area
  • Agriculture
  • Arbitration
  • Aviation
  • Banking and Finance
  • Capital markets
  • Charties and pro bono
  • Company commercial
  • Competition and antitrust
  • Construction and engineering
  • Consumer products
  • Conveyancing
  • Corporate finance and M&A
  • Criminal
  • Education
  • Employment and benefits
  • Energy and natural resources
  • Environmental
  • Financial services
  • Fraud & white collar crime
  • Funds
  • Governance | risk and compliance
  • Government and public sector
  • Health and safety
  • Healthcare and pharmaceuticals
  • Insurance/Reinsurance
  • Intellectual Property
  • Litigation and dispute resolution
  • Logistics and transportation
  • Manufacturing and Industrial
  • Pensions
  • Personal Injury
  • Private client and family
  • Private equity
  • Professional indemnity
  • Professional support/knowledge management
  • Projects and infrastructure
  • Real estate
  • Regulatory
  • Restructuring | insolvency and debt recovery
  • Shipping and maritime
  • Taxation
  • Technology media and telecoms
  • Travel and tourism
close

Registration

Registered Successfully!!!. We have sent you a confirmation email to your email address.
close


View My Saved News


close


View My Saved News


« Back

Kenya takes lead on climate law in East Africa

Momentum on ESG issues is building as Kenyan businesses embrace the challenges and opportunities of climate change, says TripleOKLaw LLP’s Stephen Mallowah in an interview with Ben Edwards.

Oct 03, 2023
Share

When TripleOKLaw launched its dedicated climate change and sustainability practice in 2017, it was one of the first firms in Kenya to recognise how critical ESG factors would become in all areas of law.

“In the beginning nobody really understood what this was all about, but now it’s really starting to gather momentum,” noted Stephen Mallowah, a partner at TripleOKLaw LLP and head of its climate change and sustainability practice. “You have to really think about ESG across all practice areas now.”

Underscoring this shift in momentum, Nairobi hosted the African Climate Summit earlier in September as a way to further engage stakeholders on the importance of taking action on climate change, including the need for new funding mechanisms, developing partnerships and setting more ambitious commitments and pledges.

“The most important thing for us was really bringing the whole debate into the public space because people in Kenya don’t really pay attention to climate change issues; it’s not a daily conversation amongst Kenyans,” Mallowah said. “So one of the biggest impacts of the conference was bringing climate change front and centre and connecting it to events that have been impacting Kenyans, whether it’s droughts, floods or changing weather patterns.”

The regulatory backdrop is also sharpening its focus on climate change. The Kenyan government introduced its Climate Change Amendment Bill in August, refreshing the Climate Change Act 2016 by strengthening the regulatory environment around carbon trading. The market had become “a bit of a free for all” because in the past there were no reporting requirements or minimum standards to adhere to, explained Mallowah.

Kenya’s central bank also recently introduced climate risk reporting rules to ensure the country’s banks are factoring climate change and ESG considerations into operating and lending decisions.

“Financial institutions hadn’t been taking it seriously; now they are scrambling to come up with reporting frameworks and policies and so on,” said Mallowah.

While Kenya is leading on ESG issues in East Africa, that is partly because the country is being more heavily  impacted by climate change than its neighbours.

“We are under pressure – our forests are diminishing through population growth and encroachment, and we have significant blue economy tourism that is at risk from rising sea levels, so we’ve been thinking about it probably a lot more than other countries,” Mallowah pointed out.

This situation means Kenyan businesses are now becoming more engaged on climate issues and how ESG impacts their bottom line.

The firm’s climate change and sustainability practice has been working on a wide range of green-related matters since its inception. The first was advising on a carbon trading transaction for a large power generating company. Since then it has advised a company that was working with the Kenyan government on a potential green bond; it has been working with an international consultancy on the creation of a green bank; and it has been advising on a number of energy developments, including a major geothermal plant and other renewable projects.

“Energy and climate change are now intertwined; for bankability purposes, you have to ensure that projects have as small an environmental footprint as possible,” emphasised Mallowah.

Other practice areas are also incorporating ESG considerations into their advice. For example, the real estate practice is increasingly dealing with green building certifications, while the tax advisory practice is helping companies secure tax exemptions by structuring projects as green developments.

“You have to think about ESG no matter what you are doing,” Mallowah concluded.


To join Africa Legal's mailing list please click here

Copyright : Re-publication of this article is authorised only in the following circumstances; the writer and Africa Legal are both recognised as the author and the website address www.africa-legal.com and original article link are back linked. A bio for the writer can be provided on request.

RELATED CATEGORY NEWS

Building energy independence in Africa Read more
Employees’ mental wellbeing is an asset Read more
Financing a better future Read more

RELATED COUNTRY NEWS

Reducing REC’s environmental footprint Read more
Real super heroes defending the defenc Read more
Overhaul of Kenya’s criminal justice s Read more
Africa Legal
  • About us
  • Contact Us
  • Terms of use
  • Privacy and cookies policy
Members
  • Find a job
  • Take a course
  • Read news
  • Terms and conditions
  • Cancellations and refunds
Clients
  • Terms and conditions
  • Post a job
  • Host a course
  • Advertise
  • Share news
Connect with us
© Copyright 2023 | Africa Legal. All rights reserved. | Privacy Policy