BAKU, Azerbaijan, November 27. The International Finance Corporation is collaborating with the government of Kazakhstan to achieve ecologically sustainable, resilient, and inclusive economic growth, Ekaterina Benjamin, IFC Country Officer for Kazakhstan told Trend.
"The country's commitment to achieve carbon neutrality by 2060, announced in December 2020, is a commendable but complex objective," she said.
Citing Ekaterina Benjamin, a carbon neutrality strategy is now being created, and the transition entails a gradual shift toward a more sustainable economy, reducing dependency on energy and hydrocarbons and dramatically lowering greenhouse gas emissions.
"This shift will enable Kazakhstan to achieve its long-term environmental and climate objectives while preserving its economic and developmental interests," the country officer said.
According to her, a recent World Bank Group study indicates that significant adjustments must be made across key economic sectors in order for the country to address climate change.
"Specifically, the country will need to incentivize climate-smart agriculture practices, invest in efficient water infrastructure to conserve its water supply, and strengthen other infrastructure to build resilience. These changes could unlock a wave of investment in projects like solar plants and wind farms that help Kazakhstan both reduce its carbon footprint and lessen its reliance on often expensive imported fossil fuels," Ekaterina Benjamin noted.