Achieving carbon neutrality in Kazakhstan requires big investments - minister

Kazakhstan Materials 27 October 2021 15:05 (UTC +04:00)

BAKU, Azerbaijan, Oct. 27


About $650 billion must be invested in low-carbon technologies to achieve carbon neutrality in Kazakhstan, Minister of Ecology, Geology and Natural Resources of Kazakhstan Serikkali Brekeshev said, Trend reports.

The minister made the remark at a briefing in the Central Communications Service, operating under the President of Kazakhstan.

The minister also named the sectors requiring the largest volume of investments in 40 years - electricity and heat production $305 billion, transport $167 billion, mining and processing industry $65 billion, housing and communal services $57 billion, agriculture $49 billion.

At the same time, according to the estimates of the investment model in the sector of coal, oil and gas production will decline, due to a decrease in demand for these resources in the long term.

"For example, the government is already working to attract investments in the renewable energy sector. One of these is investment cooperation with the UAE on the implementation of large renewable energy projects in Kazakhstan aimed at reducing CO2 emissions," added Brekeshev.