NUR-SULTAN – The European Bank for Reconstruction and Development (EBRD) will help Kazakhstan to accelerate curbing emissions as part of the country’s pledge to achieve its 2060 carbon neutrality target and goals of the Paris Agreement, based on a memorandum of understanding signed on Sept. 15 by Kazakh Minister of Ecology, Geology and Natural Resources Serikkali Brekeshev and EBRD Vice President Alain Pilloux, reported the bank’s press service.
“We are at the beginning of the road, hopefully bringing Kazakhstan closer to alignment with the Paris Agreement and its 2060 carbon neutrality target. This effort will have long-lasting economic and environmental benefits for this country and will send a strong signal to international investors about its commitment to the green agenda,” Pilloux said.
In line with the agreement, the EBRD and Kazakhstan will be aiming to reduce greenhouse gas emissions in the transportation of energy and gas, agribusiness, municipal waste and wastewater services. The sides also agreed to cooperate on the development of a National Methane Emissions Inventory and Reduction Programme.
The bank will also assist in the country’s joining the Global Methane Pledge, which aims at reducing global methane emissions by 30 percent by 2030.
Earlier today, Pilloux met with Kazakh Prime Minister Alikhan Smailov, indicating the bank’s readiness to invest in renewable energy sources in Kazakhstan.
Kazakhstan and EBRD mark 30 years of cooperation this year, in what has become the biggest continuous banking operation for the EBRD in Central Asia, with almost US$10 billion invested through nearly 300 projects to date.
The bank’s recently approved country strategy for Kazakhstan aims to boost private-sector competitiveness and connectivity and strengthen economic governance.