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The Capital Markets Authority (CMA) has mandated all listed companies and fund managers to disclose climate-related financial risks starting January 2025. The rules align with the Task Force on Climate-related Financial Disclosures (TCFD) and require reporting on physical risks (e.g., floods), transition risks (e.g., carbon taxes), and mitigation strategies. Firms must publish annual sustainability reports verified by third parties. The move makes Kenya the first East African nation to enforce climate risk transparency. CMA says data will inform green investment decisions and stabilize markets. Over 70 companies, including Safaricom and KCB, are already piloting disclosures.