BAKU, Azerbaijan, November 15. Kazakhstan has developed a plan of measures and a list of investment projects worth about $400 million to reduce methane emissions in the context of economic sectors, the Minister of Ecology and Natural Resources of Kazakhstan Yerlan Nyssanbayev said at a panel discussion on “Mobilization for Climate Action: countries, multilateral financial institutions and the private sector implementing the Paris Agreement,” Trend reports.
“Multilateral development banks and the private sector play a key role in the climate process. There is a need to join forces to achieve greenhouse gas emission reduction and climate change adaptation targets. This requires coordinated action at the state level,” he said.
According to him, the commitments made in Paris to limit global warming to well below 2° Celsius and efforts to keep it at 1.5° should be echoed not only in speeches but also in actions.
“In the medium term, we are working on the development of nationally determined contributions, which also require significant investment and assessment. To implement measures for 5 years, we announced the accession of Kazakhstan to the global commitment to reduce methane emissions,” the Minister of Kazakhstan noted.
He emphasized that for the climate transition of countries such as Kazakhstan, transition finance is important. The synergy between countries, international development banks, and the private sector is crucial. Multilateral development banks and international organizations can act as catalysts for change, ensuring that climate finance reaches those who need it most, especially developing countries.
“In conclusion, I would like to highlight Kazakhstan's initiative to strengthen common measures and develop joint approaches to the regional climate process. Kazakhstan plans to hold a regional climate summit in 2026. We call on international banks and organizations to support this initiative," Nyssanbayev said.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel