Kenyan private investors say embracing green economy

NAIROBI, Dec. 7 (Xinhua) -- Members of the Kenya Private Sector Alliance (KEPSA) said on Thursday that they are adopting environmentally friendly business practice geared toward green economy.

"Our members have started introducing innovative solutions that are aimed at protecting the environment," Peter Oloo, CEO of Social Enterprise Society of Kenya, which is a member of KEPSA, said in Nairobi during a conference on Kenya's pathway to a green economy.

Oloo observed that KEPSA members have no option but to embrace environmentally friendly business practice to boost Kenyan firms' profits.

He said the private sector was keen at preserving the environment and driving sustainable economic growth, in line with the Sustainable Development Goals (SDGs).

Kenya stepped up measures towards the promotion of sustainable business practices including the banning of plastic bags use in the country.

The country has also launched a Green Economy Strategy, outlining the steps that the country plans to take in reducing production of carbon emissions.

Oloo noted that KEPSA has stepped up measures to boost private sector participation in environmental protection, such as the plastic bags ban earlier in the year.

He said the private sector are fully engaged in minimizing the ecological foot print by embracing innovative environmentally friendly options.

German and Kenyan experts have been discussing how businesses in Kenya can boost environmental protection and have identified opportunities for partnerships between new business environments and the established private sector.

"Climate change and the recent resolutions at the just ended Third Session of the United Nations Environment Assembly can only be achieved through green economy," said Michael Derus, Deputy Ambassador and Head of Economic Affairs at the Germany embassy in Kenya.

Derus said there is need to create awareness on environmental conservation in order to meet the global demand in meeting climate change and ending pollution.

"The country requires sustainable initiatives that support policy dialogues for both public and private sector to promote sustainable growth," he added. Enditem