Kazakhstan Needs $610 Billion in Investments in Low-Carbon Technologies, Says Minister

ASTANA – The net investment in Kazakhstan’s low-carbon technologies is estimated at $610 billion, said Kazakh Minister of National Economy Alibek Kuantyrov at a Feb. 28 seminar dedicated to the country’s strategy for achieving carbon neutrality, the ministry’s press service reported.

Photo credit: swisscore.org.

“Our goal is to reduce our carbon footprint and reap the new benefits of sustainable economic growth, improved public health and climate risk reduction. A net investment of $610 billion in low-carbon technologies will lead to new and expanded markets and niches for domestic producers, stimulating the creation of high-productivity jobs,” Kuantyrov said. 

The strategy, which Kazakhstan adopted in February, concerns key sectors of the economy and outlines the measures needed to achieve the country’s objective of carbon neutrality by 2060, including reducing greenhouse gas emissions, improving energy efficiency, and developing renewable energy sources.

More than half of the required investments ($386.3 billion) are already circulating in the economy and will be redirected from the commodity sectors to green sectors. The remaining $223.7 billion will be attracted from new sources.

“We have a big task to improve public health, energy security and sustainable economic growth,” said the minister. 

He stressed that the government is actively working to achieve these goals by attracting investments and strengthening cooperation with international organizations and other countries.

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