Kazakhstan/Russia, 25 April 2008 – In Astana today and in Moscow on 28-29 April, further steps are being taken to encourage carbon trading as a way of meeting goals for the reduction of greenhouse gases. Organized by UNDP and several partners, these events will further develop carbon regulation schemes and trading markets in the region and give an opportunity for those involved in their operation to discuss problems and future developments.
Policy dialogue in Kazakhstan Kazakhstan is ranked as the fourth most greenhouse gas-intensive economy in the world, meaning there is a high ratio of greenhouse gas emissions to economic output. As the country has not ratified the Kyoto Protocol, mandatory emissions caps and the related financial mechanisms for trading emissions do not exist in Kazakhstan.
However, as in other non-Kyoto countries, the government and many companies are interested in carbon limitation schemes, in anticipation of future caps, in support of the development of sustainable energy schemes, and as good corporate practice.
In partnership with OSCE, UNDP today begins a policy dialogue in Kazakhstan on carbon finance, aiming to increase awareness among politicians and decision-makers of the potential benefits of the country’s participation in carbon trade. High-level politicians and decision-makers will meet for discussions and bilateral meetings with government actors. In September 2008, a Carbon Finance Conference will bring together a wider group of interested actors from the private and non-governmental sectors to identify potential projects and encourage cooperation.
Moscow Carbon Market Forum Annually since 2006, there has been a Carbon Market Forum held in Moscow. This year’s event is organized by UNDP, the World Bank, the Ministry of Economic Development and Trade of the Russian Federation and the gas and oil company Gazprom.
These events offer a chance for leading players in the regional carbon markets – for example, companies in the oil and gas, energy, metallurgical and cement sectors – to exchange views regarding problems and future developments in the implementation of the Kyoto Protocol. The third Forum, held from 28-29 April 2008, comes after the first quantified emissions limitation and reduction commitment period of Kyoto Protocol came into force in January 2008.
Among the issues to be discussed at the Forum is the legal framework for implementing JI projects. These are projects under the Joint Implementation mechanism of the Kyoto Protocol whereby countries with emissions reduction targets – Annex 1 countries – help meet their targets by investing in cheaper carbon reductions in other Annex 1 countries (where costs of reductions may be lower).
Russia and Ukraine are Annex 1 countries and are the leading destinations in the CIS for richer partners seeking to meet their targets at lower cost.
