{"id":91441,"date":"2023-03-31T15:56:42","date_gmt":"2023-03-31T12:56:42","guid":{"rendered":"https:\/\/www.eastcham.fi\/uncategorized\/opportunities-in-decarbonizing-industry-in-kazakhstan-for-finnish-companies\/"},"modified":"2024-01-12T13:21:52","modified_gmt":"2024-01-12T11:21:52","slug":"opportunities-in-decarbonizing-industry-in-kazakhstan-for-finnish-companies","status":"publish","type":"post","link":"https:\/\/www.eastcham.fi\/en\/publications\/opportunities-in-decarbonizing-industry-in-kazakhstan-for-finnish-companies\/","title":{"rendered":"Opportunities in decarbonizing industry in Kazakhstan for Finnish companies"},"content":{"rendered":"

Environmental challenges<\/h2>\n

Kazakhstan is the largest emitter of carbon dioxide in Central Asia and the 14th in the world. Greenhouse gas emissions grew by more than 60%<\/strong> between 2001 and 2019. The country\u2019s sizable manufacturing industries, such as steel and aluminum, are among the most energy- and carbon-intensive in Europe and Central Asia.<\/p>\n

The power sector in Kazakhstan is one of the main sources of atmospheric pollution. The current situation is characterized by the significant wear of generating and network assets, the dominating position of coal generation and the absence of reserve capacities required for covering peak loads. The power sector is responsible for over 80%<\/strong> of the country\u2019s carbon emissions due to Kazakhstan\u2019s near-complete dependence on fossil fuels, particularly coal for heating and power, and oil and gas for export revenues. 90%<\/strong> of electricity is currently generated from coal and gas.<\/p>\n

Environmental strategy and legislation<\/h2>\n

The new Environmental Code of the Republic of Kazakhstan<\/strong> was adopted on 2.1.2021. According to the new code, it is expected that 50 largest oil and gas, mining and metallurgical, chemical, and electric power companies will replace their old technologies with the best available technologies (BATs) by 2025. The BAT principles should be gradually introduced in 10 years.<\/p>\n

The Strategy on Achieving Carbon Neutrality by 2060<\/strong> was approved by the President of the Republic of Kazakhstan on 2.2.2023. Kazakhstan\u2019s commitment to carbon neutrality by 2060 and to reducing greenhouse gas emissions by at least 15%<\/strong> by 2030 requires fundamental change to how the economy operates and what drives its growth. Decarbonizing the energy system is a key to achieving the 2060 net-zero goals. Achieving the targets will be impossible without decarbonizing manufacturing, which accounts for 13.6%<\/strong> of direct emissions.<\/p>\n

EBRD<\/strong> will finance a $200<\/strong> million project on Carbon Capture and Storage technology deployment at Kazakh industrial enterprises. The Bank will support the development of a decarbonized and climate-resilient energy system. The EBRD will finance and advise companies on decarbonization and will support green municipal and transport infrastructure projects.<\/p>\n

Seize the opportunity<\/h2>\n

ESG and decarbonization becomes important in companies\u2019 policy \u2013 especially visible in case of larger players. As a result, the industry will represent a big demand for technologies\u00a0reducing and optimizing\u00a0the energy they consume and decarbonize.\u00a0\u200b Finnish companies can provide solutions related to decarbonization, such as solutions in energy and material efficiency.\u00a0The list of the main polluters can be sent by EastCham Finland to the interested companies.<\/p>\n

Target sectors<\/h3>\n