Senior officials at the signing ceremony.
AirCarbon Exchange (ACX), the global exchange revolutionizing the voluntary carbon market, signed a cooperation agreement with the Nairobi International Finance Center (NIFC) and the Nairobi Securities Exchange (NSE) to develop a Kenya Carbon Exchange during the official launch of the NIFC officially by Dr. Joseph Kinyua, Chief of Civil Service, on behalf of . Uhuru Kenyatta, President of the Republic of Kenya.
The NIFC is a flagship initiative under the economic pillar of Kenya’s Vision 2030. The NIFC aims to strengthen the country’s global competitiveness by making it easier and more attractive to invest and conduct financial services, transactions and related activities. The partnership will build a carbon ecosystem in Kenya, connected to ACX’s international client order book, allowing international and domestic buyers and sellers to trade efficiently and transparently.
President Uhuru Kenyatta said: “The NIFC was designed to be an efficient and predictable business environment to bring more confidence to the large global pools of capital that are watching our progress but have not yet made an investment decision. It is designed to attract capital that will transform not just the Kenyan economy but the entire African economy.”
NIFC Board Chairman Vincent Rague announced that the center will prioritize three key issues including fintech, green finance and attracting large capital pools and multinational corporate headquarters. The NIFC Authority and the NSE have held talks with ACX to establish a Kenya Carbon Exchange and signed the Cooperation Agreement during launch to expand ACX’s global platform to the African continent. This will support the growth of climate finance in Kenya by establishing a locally accessible global marketplace for carbon offsets.
Kevin Iwanaga, President & COO – Middle East/Africa, ACX, said: “We are honored to be working with the NIFC Authority and the NSE to jointly develop Kenya’s first carbon exchange. The exchange will be an important element in Kenya’s sustainable financial ecosystem and will be instrumental in directing global capital flows to Kenya’s impactful environmental projects such as reforestation, land restoration and emerging technologies such as DACS and BECCS. We look forward to working with the NIFC and the NSE on this important and timely endeavor.”
Meanwhile, RELX International, the multinational responsible for electronic cigarettes, has successfully completed in-depth training for officials from Abu Dhabi Customs and the Department of Economic Development (DED).
Previously, RELX International held a similar training session for Ras Al Khaimah Customs officials. To increase its effectiveness, RELX International partnered with leading intellectual property (IP) firm SABA IP.
The lavish programs demonstrate the leading vaping brand’s commitment to combating the illicit trade in electronic cigarette (e-cigarette) products with regulators and government agencies, and underscore its commitment to the RELX Pledge, which includes the groundbreaking Golden Shield program belongs.
The training covered several aspects including: identifying legal products from illegal (smuggled/counterfeit); Raising awareness and educating people about the consequences of illegal trade in e-cigarettes; Sharing research and intelligence to identify illegal trading activities; Working with government officials to track and seize counterfeit products and develop and implement product authentication, tracking and tracing technologies.
Contraband and counterfeit e-cigarettes are manufactured in unregulated facilities and pose serious health risks to adult consumers and minors . Counterfeit e-cigarettes have been scientifically proven to be dangerous for several reasons: using an inferior e-liquid formula; the e-liquid contains harmful substances; the capsules leak frequently; The capsules are manufactured without a quality certificate and there is significant misinformation about the nicotine dosage in the capsules.
“The training courses for Abu Dhabi Customs, Department of Economic Development (DED) and Ras Al Khaimah Customs demonstrate RELX International’s commitment as a responsible business to work with local authorities, investigative firms and e-commerce platforms to… Identify and take down smuggled and counterfeit e-cigarette products as part of the RELX Pledge.
“We are pleased to have completed this focused training, having completed similar training for Saudi Customs in May,” said Robert Naouss, External Affairs Director – MENA & Europe at RELX International.
RELX International created the Golden Shield program in August 2019 to prevent the production and sale of illegal goods. Since its inception, it has had a significant impact, removing over 550,000 counterfeit products from the market and over 77,000 websites.