In 2018, Kazakhstan plans to buy electricity produced by renewable energy sources.

The summit was attended by 59 heads of state, another 39 countries were represented at the ministerial level. Kazakhstan at the Summit was presented by the Minister of Energy of Kazakhstan Kanat Bozumbayev, Zakon.kz reports citing the press service of the Ministry of Energy of Kazakhstan.

Recall, the Paris Agreement is aimed at “keeping growth of average temperature” on the planet “below” 2 ° C in relation to indicators of the pre-industrial era. The Paris Agreement has already entered the history of the fact that the document was simultaneously signed by 175 countries.

Kazakhstan along with the world community pays great attention to global climate change.

Kazakhstan, as a Party to the international climate treaty, ratified the Paris Agreement, accepting a voluntary contribution to reduce greenhouse gas emissions by 15% from 1990 levels to 2030.

Achievement of the goal is expected by stimulating the best available technologies in the industry, involving the renewable energy sources in the balance sheet, quota system and trading in greenhouse gas emission allowances.

The Ministry connects the key role in achieving the above objectives with cooperation with the Green Climate Fund (GCF).

In order to attract the fund’s investments in the real sector of Kazakhstan, since last autumn, jointly with the United Nations Development Program and the European Bank for Reconstruction and Development, large-scale work was carried out to prepare a National Work Plan with the GCF for a total amount of funding of about $ 800 million.

An agreement has been reached with the European Bank for Reconstruction and Development to allocate 200 million euros from the bank, attracting another 480 million euros to invest in renewable energy projects in Kazakhstan.

Next year, Kazakhstan plans to hold the first pilot auctions for the purchase of electricity produced by renewable energy sources. Also from January 1, 2018, an improved quota system and trading in greenhouse gas emission allowances is being introduced.

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