Kazakhstan needs billions to achieve carbon neutrality, expert says
Kazakhstan must invest $610 billion to achieve carbon neutrality by 2060, according to Natalia Bachinskaia, business development manager at Chapter Zero Kazakhstan, a part of the global Climate Governance Initiative (CGI) network, which aims to combat climate change and enhance business sustainability.
«Kazakhstan will need to invest $610 billion to achieve carbon neutrality by 2060, $10 billion of which is required by 2030. This goal is unattainable without international investment. Decarbonization projects, such as those related to renewable energy, can be commercially attractive. However, other initiatives, including carbon capture and storage, as well as forestry and climate projects, cannot be implemented without issuing an additional product — carbon units — as well as foreign technologies and investments,» organizers of the Power Tech 2025 exhibition said in a statement, citing Bachinskaia. The event will take place April 2 to 4 at the Atakent International Exhibition Centre in Almaty.
According to the expert, businesses are currently developing their own strategies for decarbonization projects. She also noted that it should be clear to everyone that international financing is limited and cannot support all countries and projects. Therefore, contributing countries will prioritize partners with a transparent regulatory environment and projects in high states of readiness.
Furthermore, Power Tech 2025 Conference Director Anel Keljanova highlighted that the Astana International Financial Centre (AIFC) reported Kazakhstan’s sustainable financing market reached approximately $551.2 million in 2024, including green bonds and loans. The majority of «green» funds were allocated to projects focused on energy efficiency and renewable energy.
The conference is expected to host speakers and experts from 14 countries, who will discuss current issues related to improving resource efficiency and promoting new technologies to sustain Kazakhstan’s robust economic growth. As part of the business program, representatives from state and private institutions in Kazakhstan, Azerbaijan, Austria, Belarus, Brazil, China, France, Italy, Oman, Russia, Serbia, Switzerland, Turkey and Uzbekistan will take part in the discussions.
Last year, President Kassym-Jomart Tokayev instructed the cabinet to amend Kazakhstan’s concept of green transition. The document states that the development of green financing would focus on engaging financial institutions in implementing projects aimed at improving and restoring the environment through green loans, bonds and other financial instruments.
