World Bank offering financial lifeline to Kazakhstan for setting emissions trading system

ASTANA, Kazakhstan, March 31. The World Bank (WB) has provided a grant of $4.8 million for the implementation of the "Partnership for Market Implementation" (PMI) project, aimed at developing the Emissions Trading System (ETS) in Kazakhstan and integrating carbon pricing mechanisms into the country’s economic strategy, Trend reports via the Ministry of Ecology and Natural Resources of the Republic of Kazakhstan.

The Ministry of Ecology and Natural Resources of the Republic of Kazakhstan, in collaboration with “Zhasyl Damu” (Green Development) JSC and the World Bank, organized a seminar for the launch of the PMI grant project.

The project is focused on developing and improving Kazakhstan's Emissions Trading System (ETS) and integrating carbon pricing mechanisms into the country’s economic strategy.

"In support of the efforts of the Ministry of Ecology and Natural Resources of the Republic of Kazakhstan and “Zhasyl Damu” (Green Development) JSC - the operator of the carbon units system in Kazakhstan - and to support the country’s climate commitments, the World Bank’s Targeted Fund ‘Partnership for Market Implementation’ (PMI) has allocated a grant of $4.8 million to Kazakhstan, valid until June 30, 2028," the Ministry of Ecology and Natural Resources of the Republic of Kazakhstan stated.

The event was attended by representatives from government agencies, businesses, international organizations, and technical experts. The discussions focused on strengthening the national emissions trading system (ETS), introducing auction-based trading of quotas, assessing the coverage of the ETS beyond the energy sector and CO₂ emissions, and preparing Kazakhstan for participation in international carbon markets (Article 6 of the Paris Agreement).

The event also served as an important platform for exchanging experiences and discussing new solutions (taxes, emissions credits) in the field of carbon regulation.