Kazakhstan to Intensify Work to Attract Investment in Green Technologies

Issues of supporting new projects in the field of renewable energy were discussed on December 14th at a meeting of the Council for the Transition to a Green Economy, chaired by the Prime Minister of Kazakhstan, Alikhan Smailov.

At the meeting, Madina Abylkasymova, Chairperson of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, said that today the necessary legislative framework for the development of “green” finance has been created in Kazakhstan. A new Environmental Code has been adopted, and changes have been made for the issuance and circulation of green bonds and ESG bonds.

The Prime Minister emphasized that a large-scale transformation of the economy requires, among other things, an increase in the volume of “green” investments.

“To achieve carbon neutrality by 2060, financing in the amount of more than $600 billion is required. Therefore, it is necessary to intensify efforts to attract investments in green technologies,” said Smailov.