Rethinking Climate Finance in the Accounting Profession: A Critical Review of the Kenyan Landscape and Related Reports

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dc.contributor.authorKagwaini, Dorothy Muthoka
dc.contributor.authorMutua, Phyllis
dc.date.accessioned2024-05-08T12:50:05Z
dc.date.available2024-05-08T12:50:05Z
dc.date.issued2023
dc.description.abstractThe pressure to track and report on climate finance in government and business operations has received a lot of attention in relation to mitigation and adaptation matters. Kenya has been an active player in international efforts of climate change since 1994 with enactment of the United Nations Framework Convention on Climate Change, and ratification of the Kyoto protocol in 2005. Of interest is the Paris Agreement ratification in 2018 and submission of nationally determined contribution in 2021. Although Kenya has a robust institutional framework on climate finance, the Institute of Certified Public Accountants of Kenya has not issued guidelines on how to track and report climate finance. The purpose of the paper was to critically review the Kenyan climate finance report in relation to the accounting profession. The paper was guided by Liberal Archipelago Theory which considers climate finance from multiple perspectives, including sociology and cultural diversity. An exploratory qualitative approach was applied from Kenyan climate finance landscape report subjecting it document analysis. The findings showed an accounting paradox of model used in tracking the sources, sectors and activities related to climate finance. Challenges of double counting and lack of explicit guidelines by accounting profession. In conclusion, climate finance is a global concern that cannot be legitimized without certain commitments, and beliefs shared among the multiple overlapping authorities. The paper recommends accounting profession to be in the center of climate finance and need for regulation.
dc.description.sponsorshipDaystar University.
dc.identifier.citationKagwaini, D. M., & Mutua, P. M. (2023). Rethinking climate finance in the accounting profession: A critical review of the Kenyan landscape and related reports. African Finance Association Conference held at University of Cape Town, Graduate School of Business, Cape Town, South Africa on 16 -17, May 2023.
dc.identifier.urihttps://repository.daystar.ac.ke/handle/123456789/4548
dc.language.isoen
dc.publisherDaystar University
dc.subjectClimate Finance
dc.subjectInternational Accounting Standards Board
dc.subjectInstitute of Certified Public Accountants of Kenya.
dc.titleRethinking Climate Finance in the Accounting Profession: A Critical Review of the Kenyan Landscape and Related Reports
dc.typeArticle

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