Kazakhstan has intensified the
work on attraction of investments into green technologies. According to the
Agency for Regulation and Development of the Financial Market, a legislative
and regulatory framework has been established in the country for the
development of green financing. This includes the adoption of a new
Environmental Code and amendments for the issuance and circulation of green
bonds. Corporate borrowings in this sector have surged more than fourfold on
the Kazakhstan Stock Exchange over the last two years, reaching 208 billion
tenge by November. Additionally, green lending volumes in the banking sector
have grown by 3.5 times. Such green projects are also supported through the
Baiterek holding company, the Industrial Development Fund, and the Agrarian
Credit Corporation. According to experts, to achieve carbon neutrality by 2060,
it is necessary to attract more than $600 billion. During the meeting of the
Council for the Transition to a Green Economy, the country’s Prime Minister
Alikhan Smailov has set the task to strengthen work in this direction.
Web-editor: Aizhan
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