AIFC Green Finance Centre supported a training conducted to support country’s low-carbon development strategy

On 3-7 October 2022 within the framework of ESG Investment Forum 2022, a five-day training was held for senior officials of government bodies and businesses to implement initiatives for the country’s low-carbon development.

More than 100 participants from various government agencies, non-governmental organizations and industries participated in the hybrid format.

This training was organized by the International Trade Centre (ITC) at the request of the National Agency for Standardization of Kazakhstan – Kazstandart, with the support of the AIFC Green Finance Centre. ITC developed a training program covering the technical aspects of carbon trading, an overview of international initiatives related to carbon emissions, as well as possible scenarios for the economy of Kazakhstan. The training was aimed at preparing policymakers and businesses to respond and use relevant international practices in the field of carbon policy.

The program examines the methodologies of various carbon initiatives, including the EU CBAM, as well as the links between Kazakhstan’s carbon policy and trade strategies. The training was conducted by MIT Professor Michael Mehling, a leading expert in the development and implementation of climate policy. Guest speakers included Benjamin Görlach, Senior Fellow of the Ecologic Institute and Daniele Pernigotti, Technical Expert on ISO Greenhouse Gas Standards.

“Carbon policy has become an important element of trade and development. Governments are increasingly imposing environmental regulations to reduce carbon emissions to mitigate their climate impact, while businesses and investors are allocating funds to support sustainable trading methods to increase competitiveness. Thanks to the extensive experience of our experts and the interest shown, I am confident that we will identify approaches and strategies that will benefit all stakeholders in Kazakhstan,” – commented Jean-Sébastien Roure, Head of Trade Policy Unit, International Trade Centre.

Aidar Kazybayev, CEO of the AIFC Green Finance Centre: “The government is working to bring the national emissions trading system closer to the European system, taking into account the current global trends in a cross-border carbon regulation and the associated transitional climate risks and is going to make full use of international mechanisms and instruments of international carbon markets and trade-offs, including the efforts of the AIFC to provide its platform for these purposes. In this context, the key point is to ensure an understanding of the consequences of the climate agenda at the political level, as well as the importance of compliance with international standards related to carbon emissions, while at the same time recognizing local verification competencies at the international level to ensure the country’s continued competitiveness, in which the ITC training contributes.”

“The problem of climate change is global, so the whole world is tightening its carbon regulation. This concerns both the strengthening of internal response measures in Kazakhstan and the policy of the entire world community. I would like express my gratitude to ITC. I believe that the recommendations developed during the seminar will be in demand and will serve the development of a low-carbon policy,” – added Gabit Mukhambetov, CEO of the Kazstandart RSE.

Reference: 

The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz

The AIFC Green Finance Centre is a subsidiary organisation of the AIFC Authority and the Eurasian Development Bank, aimed at introduction and development of sustainable finance instruments and attracting of investments in environmental and social projects in Kazakhstan and Central Asia.

The AIFC Green Finance Centre supported the very first issuance of green bonds and first verified green loan in Kazakhstan. Also, the Centre introduced definitions of green finance and green taxonomy (a classifier of economic activities and projects that meet technical selection criteria) in the national environmental legislation. The new legislation provides incentives for entrepreneurs who use green finance instruments www.gfc.aifc.kz