The Green Party of Kazakhstan “Baytak” and the commodity exchange “ETS” signed a memorandum of cooperation aimed at creating and developing a platform for trading greenhouse gas emissions quotas, reforming exchange and environmental legislation. This event marks a new stage in the implementation of the country’s environmental agenda and strengthening its position in the global fight against climate change.
The goal of the initiative is to create an effective tool for regulating greenhouse gas emissions by introducing quota trading. This will allow enterprises to flexibly adapt to new environmental standards and stimulate the introduction of cleaner technologies. The development of such a platform is in line with global trends aimed at reducing the carbon footprint, achieving the goals of the Paris Agreement and the Strategy for Achieving Carbon Neutrality.
In addition, integration into international carbon quota markets will increase the competitiveness of the Kazakh economy. To achieve these goals, it is planned to reform the legislation in order to create a transparent and effective legal framework that supports quota trading and other green financial instruments. The volume of trading in global markets for carbon dioxide emission permits is estimated at trillions of dollars.
Azamatkhan Amirtayev, Chairman of the Baitak Party, noted: “We are confident that the creation of a platform for trading quotas will be a powerful impetus for the development of a green economy in Kazakhstan. This will not only allow us to reduce greenhouse gas emissions, but will also create new opportunities for business and investment.”
Kurmet Orazayev, Chairman of the Board of the ETC Commodity Exchange, commenting on the signing of the memorandum, emphasized: “We are pleased to become part of this important project. Our exchange is ready to provide its infrastructure and expertise to create an effective platform for trading quotas.”
The legislative reform also provides for the introduction of strict environmental standards for companies participating in the trading of quotas, which will help reduce the overall level of emissions in the country and achieve sustainable development goals.
The parties will continue to participate in the 29th Conference of the Parties to the UN Framework Convention on Climate Change COP 29 in Baku on November 11-22, 2024. At this international platform, Kazakhstan will share its experience in combating climate change and take part in the discussion of global environmental issues. Participation in COP 29 will strengthen its position in the international arena.
About the Baitak Party
The Baitak Green Party of Kazakhstan is implementing energy reform, water resources, sustainable development goals and ESG principles, environmental education and environmental safety projects, a digital party, striving to make Kazakhstan a leader in the green economy.
About the ETS Commodity Exchange
The ETS Commodity Exchange is one of the leading exchanges in Kazakhstan. The exchange provides a wide range of services for market participants, including trading in various types of raw materials and financial instruments.
