Green Financial System for Kazakhstan

The project «Green Financial System for Kazakhstan» will contribute to the understanding and information on green financial systems by gathering data, modelling scenarios, and assessing policy and regulatory interactions by:

  1. Assessing the demand for green investments based on the Nationally Determined Contribution (NDC), the Green Economy Concept and related national climate and environmental policies and regulations (such as in the field of renewable energy, energy efficiency and Kazakh Emissions Trading Scheme and Kazakh national programmes in the field of water, wastewater and waste infrastructure, urban transport, industrial emissions, etc.);
  2. Identification of green financing market and regulatory gaps and barriers by reviewing current financial, trading and market regulations and institutional arrangements, and comparing against international best practices, and make recommendations, where necessary;
  3. Identify and recommend green and climate finance monitoring, reporting and verification and tracking systems anticipating the Paris Agreement transparency and NDC requirements.
  4. Introduction of green financing standards, such as the Equator Principles for financial intermediaries and carbon footprint disclosure for investments made by financial investors.
  5. Development of the domestic and international markets for Kazakh green bonds, structured green financial instruments and green investment funds, including their specific legal, and institutional environment;
  6. The development of the carbon market services by financial intermediaries in the Kazakh Emissions Trading Scheme and international carbon market.
  7. To consider the demand and structural need for public co-financing.