Carbon neutrality – as the main topic on the agenda of sustainable development of Central Asian countries

The AIFC Green Finance Centre took part in the First Central Asian Forum, which is held under the auspices of the «Association of Environmental Organizations of Kazakhstan» ALE and is dedicated to the topic of “Regional cooperation and principles of joint action to achieve carbon neutrality”.

The main purpose of the Forum is to strengthen the position of the Republic of Kazakhstan in the international arena, through the expansion of interstate dialogue and the accompanying exchange of experience in promoting carbon neutrality. The opening ceremony was attended by A. N. Nazarbayeva, Chairman of the Presidium of the Association of Environmental Organizations of Kazakhstan, S.A. Brekeshev, Minister of Ecology, Geology and Natural Resources of the Republic of Kazakhstan, and U. E. Shukeev, Akim of the Turkestan region, as well as foreign guests represented by the Plenipotentiary Ambassador of Germany to Kazakhstan Monica Iversen and the head of the OSCE Program Office in Nur-Sultan Volker Frobart.

The first day of the forum was highlighted by the signing of the Declaration of Carbon Neutrality by public organizations of Central Asian countries for cooperation and interaction in promoting Carbon Neutrality. The signing of the Declaration unites various representatives of the environmental community, including government agencies, industrial enterprises and financial institutions under a common ideology of commitment to zero emissions policy.

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After the solemn signing of the Declaration, representatives of Central Asian government agencies shared their experience in implementing low-carbon development policies and discussed opportunities for cooperation in this area at the first Plenary Discussion of the Forum.

The session “Modeling of low-carbon development strategies and the mechanisms used for their implementation” was devoted to discussion of the effectiveness of the implementation of low-carbon development policies in Central Asian countries in terms of the possibility of using mechanisms to reduce greenhouse gas emissions. The session participants also discussed the possibility of introducing a green finance system and the best available technologies as tools for investing in green technologies.

Advisor of the AIFC Green Finance Centre Assel Nurakhmetova shared the Center’s experience in the sustainable development financing market during this session: “The AIFC Green Finance Centre has implemented and continues to develop climate finance mechanisms in Kazakhstan, and also offers solutions for businesses and financial institutions to transition to low-carbon development. An important step will be the application of international principles of green investment and the introduction of ESG policies.” She also focused the attention of the Forum participants on possible aspects of the potential cooperation of the Center with the countries of Central Asia.

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At subsequent sessions, issues of decarbonization of the energy and industrial sectors of the economy were raised, as well as prospects for low-carbon development in the field of agriculture were assessed. The Forum participants appreciated the high level of organization of the event and stressed its relevance against the background of the commitments made by the Central Asian countries to fulfill the terms of the Paris Agreement.

Reference:

The Astana International Financial Centre (AIFC) was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Management council of the AIFC during the council’s meeting on July 2, 2020 approved the Centre’s development strategy until 2025. In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe.

The mission of the AIFC is in assisting the sustainable and long-term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.” The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.”

For more information about the AIFC, follow the link www.aifc.kz

The AIFC Green Finance Centre is an AIFC Organisation created to enable the development of green finance in Kazakhstan and Central Asia. The main goal is to bring investments to sustainable economy through trending financial instruments, such as green and social bonds. In addition to that, the AIFC Green Finance Centre, being a regional think-tank, provides strategic and business consulting in green finance and sustainable development to Governments, quasi-state organisations and entrepreneurs. The Centre provides initial assistance to potential issuers, investors and market players on preparations for the issuance of green bonds on the AIFC Exchange (Astana International Exchange).