This newsletter gives you highlights of selected sustainability insights that were, perhaps, too long (you) didn’t read (TLDR) or there’s just too much out there to read. The highlights presented cover insights gleaned from a global, regional (African), and national (Kenyan) perspective. Happy reading!
GLOBAL
Image by ericsphotography from Getty Images
EU criminalises ecosystem destruction
Earlier this year, Europe’s top legislative body, the EU Parliament, voted to criminalise environmental crimes, commonly referred to as ecocide. The Independent Expert Panel for the International Criminal Court (ICC) defines ecocide as, “unlawful or wanton acts committed with knowledge that there is a substantial likelihood of severe and either widespread or long-term damage to the environment being caused by those acts.”
Under this new legislation, CEOs and board members can be held accountable for their organisation’s environmental crimes, facing prison sentences of up to eight years, which can increase to ten years if the crime results in the death of any person. Compliance with permits will no longer exempt operators from criminal liability, as they are required to adhere to both legal and ethical obligations under their duty of care.
The provision also requires EU member countries to incorporate this law into their national legislation within two years. Additionally, members will determine whether to impose fines for offenders, either capped at 5% of their turnover or fixed fines up to €40 million. However, it remains undecided if EU companies committing these crimes outside the region will be held accountable.
There are also proposals to adopt ecocide as the fifth crime under the International Criminal Court (ICC), alongside genocide, war crimes, crimes against humanity, and aggression. This comparison highlights the severity of ecocide, evident in a WHO report which indicates that air pollution causes over 400,000 premature deaths in Europe annually. In this context, ecocide could be considered a form of ‘genocide.’
My Two Cents: It is commendable that the EU is leading the world in formulating environmental laws. It will be interesting to see how this approach will hold to account European companies involved in environmental and/or ecosystem damage in countries outside the EU.
EU Parliament Approves First Ever EU Rules on Combating Violence Against Women
Another major highlight of the EU parliament this year so far has been the adoption of a directive on combating violence against women. The new rules prohibit female genital mutilation and forced marriage and outline particular guidelines for offenses committed online. Further to that, the directive calls for stronger laws against cyberviolence, better assistance for victims, and steps to prevent rape. Member states have three years to conform to the new law.
Going by the figures presented by a UNODC report on gender-based violence globally, the law is very timely. The report indicates that there were 48,800 family/partner related homicides for women globally in 2022. The figures are relatively higher in Africa and Asia, and Europe is setting the pace in setting strict rules on gender violence and enacting them.
It is worth noting that gender equality and the broader concept for combating violence against women is captured in Goal 5 of the 17 UN SDGS.
My Two Cents: One of the major issues in Europe facing women is sexual trafficking. The issue is conspicuously missing from the legal provision. Perhaps this rule and its framing can be a template for other regions and countries.
AFRICA
The Africa CEO Forum
The Africa CEO Forum brings together over 2,000 business leaders, investors, and policymakers from Africa and around the world. Will the forum ensure that African countries have a seat at the decision-making table, rather than being part of the menu? For decades, Africa has been exploited by Western corporations for its vast natural resources, exacerbating poverty and fueling corruption in the region. With a better-informed population today, the forum provides a platform to explore how Africa can leverage its new resources, such as manpower and innovation, to compete effectively on the global stage.
The goal of the 2024 forum was designing mechanisms to step up to challenges to Africa’s full engagement in the global stage. The forum captured them in the four-item agenda: Governance (corporate and political), Technology shift in the face of AI, Regional integration and Financing.
The organisers of the forum are very optimistic about Africa’s future. GDP growth records of 4.1% in 2022 and 3.2% in 2023 in the region are unmatched. African corporate champions among them ABSA, Ecobank, Equity and Safaricom have been instrumental in selling the African business success story. As such, start-ups can leverage on the success of these champions, new technology such as AI, Africa’s free trade agreement and new sources of business financing such as green funds to expand and enable Africa to sit at the global decision-making table.
At the end of the forum, there were highlight events that demonstrated the direction that Africa is taking and the challenges on the ground as reported by CEOs of various organisations. IFC reportedly signed nine deals worth US$ 945 million while lack of market integration and unstable and punitive tax policies emerged as the top challenges that need urgent redress. Also cited were the high levels of youth unemployment and lack of local financing.
My Two Cents: Its great to see African leaders convening to discuss and solve for our continent’s challenges. Let’s see whether the talk translates into real action and prosperity for the continent and its people.
Jobs for young Africans
A new tool by World Data Lab has been developed to paint a clearer picture of the job market in Africa. The tool revealed that the state of unemployment among African youths (21–35 years) stands at over 21%. Lack of skills and training is not a major stumbling block.
My Two Cents: The reality is that higher education and training does not guarantee employment (anymore). New markets, new skills, and a more enabling environments that supports entrepreneurship and employability are needed.
KENYA
KEPSA’s Carbon Markets Guide
KEPSA recently launched a Carbon Markets Guidebook to direct Kenyan enterprises on how they can benefit from the global carbon credits market. The UNDP defines carbon credits as measurable, verifiable emission reductions from certified climate action projects. These projects reduce, avoid or remove greenhouse gas (GHG) emissions. In most cases, they include tree planting and land reclamation projects.
For countries or enterprises that have earned many carbon credits, they can sell them to other corporations to offset their emission numbers. Many developing countries including Kenya are looking forward to capitalising on the huge market. For instance, During Africa’s first-ever climate summit in Nairobi, 2023, the United Arab Emirates (UAE) committed to buying $450m-worth of carbon credits from Africa Carbon Markets Initiative (ACMI).
As the umbrella body for Kenyan companies, KEPSA is within its role to create awareness and offer guidelines to Kenyan businesses on how best they can enter and navigate this global market. At the same time, this is an avenue that can create jobs for young Kenyans to address unemployment.
My Two Cents: Kenya can prosper in the carbon credits market and there are vast opportunities to create employment, business opportunities, but perhaps more importantly, prosperity for communities who have and will continue to manage and support our precious natural resources.