Kenya's Carbon Credit Crackdown Exposes Systemic Fraud
Kenya just demonstrated what serious carbon market regulation looks like — and several big projects didn’t survive the scrutiny. KOKO Networks: The Headline Collapse KOKO Networks, a climate-tech company selling carbon credits from clean cookstove distribution, collapsed into administration after the Kenyan government denied it a Letter of Authorization under Article 6 of the Paris Agreement. The problem? KOKO claimed 93% of woodfuel in their target areas came from deforested sources. The actual figure in cities like Nairobi is closer to 38%. That single metric inflated their credits by over 2.4×, turning roughly $7 million worth of legitimate reductions into $15 million of claimed credits. ...