Aliya Tlebaldy | 08.06.2024
Sustainable Finance in Kazakhstan
Kazakhstan, a country rich in natural resources, is increasingly turning its awareness towards sustainable finance. This change aligns with global trends aiming to spread awareness of climate change, environmental degradation, and social inequalities. Sustainable finance in Kazakhstan is not just a growing sector but a vital component of the country's strategy to achieve economic resilience and environmental sustainability.
The Kazakhstani government has taken several steps to promote sustainable finance. One of the key initiatives is the "Green Economy Concept," introduced in 2013, which aims to modify Kazakhstan into a green economy by 2050. The concept outlines policies and measures to reduce carbon emissions, increase energy efficiency, and promote renewable energy sources.
In 2021, Kazakhstan committed to achieving carbon neutrality by 2060. This ambitious target necessitates substantial investment in sustainable projects, creating a strong start for sustainable finance. The government is also introducing subsidies to support green bonds and sustainable investment projects, encouraging both domestic and international investors to participate in the green transformation.
International corporations and Kazakhstan;
International cooperation is central to the development of sustainable finance in Kazakhstan. The country is getting involved with global financial institutions, such as the World Bank and the European Bank for Reconstruction and Development (EBRD), to attract funding and expertise for green projects. These collaborations are key in building the capacity of local institutions and aligning Kazakhstan’s sustainable finance practices with global standards.
Kazakhstan has initiated several sustainable projects that exemplify its commitment to green growth and environmental sustainability. Here are some notable examples:
The Kazakhstani government has taken several steps to promote sustainable finance. One of the key initiatives is the "Green Economy Concept," introduced in 2013, which aims to modify Kazakhstan into a green economy by 2050. The concept outlines policies and measures to reduce carbon emissions, increase energy efficiency, and promote renewable energy sources.
In 2021, Kazakhstan committed to achieving carbon neutrality by 2060. This ambitious target necessitates substantial investment in sustainable projects, creating a strong start for sustainable finance. The government is also introducing subsidies to support green bonds and sustainable investment projects, encouraging both domestic and international investors to participate in the green transformation.
International corporations and Kazakhstan;
International cooperation is central to the development of sustainable finance in Kazakhstan. The country is getting involved with global financial institutions, such as the World Bank and the European Bank for Reconstruction and Development (EBRD), to attract funding and expertise for green projects. These collaborations are key in building the capacity of local institutions and aligning Kazakhstan’s sustainable finance practices with global standards.
Kazakhstan has initiated several sustainable projects that exemplify its commitment to green growth and environmental sustainability. Here are some notable examples:
- Astana Solar Plan (renewable energy project, aiming to reduce the country's dependence on fossil fuels and lower carbon emissions)
- Nur Alem Pavilion (sustainable architecture and renewable energy project, educational center promoting sustainable development and green technologies)
- Karaganda Biogas Plant (an innovative project that converts organic waste into biogas, which is then used to generate electricity)
