Kazakhstan's priorities at COP29: Focus on green finance market & taxonomy

    ECONOMICS  22 June 2024 - 16:48

    Kazakhstan is looking forward to COP29 in Baku this November with optimism, aiming to achieve consensus on crucial aspects of climate finance and the implementation of climate solutions to meet carbon neutrality commitments.

    Saule Sabiyeva, Director of the Climate Policy Department at Kazakhstan's Ministry of Ecology and Natural Resources, emphasized the significance of COP29 being held close to Central Asia, highlighting expectations for substantial regional cooperation on water resources and pollution monitoring in the Caspian Sea, Caliber.Az reports citing local media.

    "COP29 in Baku is important for Kazakhstan because it is held in a place close to Central Asia, we are in the same region as Azerbaijan. Accordingly, we expect significant achievements from COP 29, special regional cooperation on water basins, water resources and monitoring of pollution in the Caspian Sea," she said.
     
    Speaking about ways to address climate issues, Sabiyeva said Kazakhstan is counting on joint regional solutions to achieve a green economy, such as developing a market for green finance and developing a green taxonomy, which will provide an opportunity to attract investors focused on producing environmentally friendly products to the region.
     
    Historically, Central Asia is one of the most vulnerable regions of the world to climate change. According to the World Bank, by 2050, temperatures in the region could rise by 4-5°C, leading to glacier melting, water shortages and land degradation. That is why joint efforts of the region's countries to combat climate change and transition to a green economy are crucial for sustainable development here.
     

    Caliber.Az

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