Kazakhstan unveils over 32 billion tenge in green projects at COP31

The initiatives, unveiled at Kazakhstan's national pavilion during a session titled "Kazakhstan's Carbon Market: From National Mechanisms to International Cooperation," involve the construction of a lithium-ion battery recycling facility and a 70-megawatt solar power plant in Almaty region.

The first project, Nuloop Kazakhstan, involves building a facility in the Kairat industrial zone to collect and recycle used lithium-ion batteries. With an investment of 11.95 billion tenge, the plant will recover valuable materials from spent batteries, help reduce hazardous waste, and introduce modern recycling technologies.

The facility is also expected to create new jobs and support the growth of Kazakhstan's recycling industry.

The second project, led by LoopEnerGren Capital, involves the construction of a 70 MW solar power plant at an estimated cost of 20.47 billion tenge. Once completed, the plant is expected to boost renewable energy production, cut greenhouse gas emissions, and strengthen the region's energy infrastructure.

Both initiatives are being supported by the International Green Technologies and Investment Projects Center (IGTIC), in cooperation with the Investment Committee of Kazakhstan's Ministry of Foreign Affairs.

The presentation of these projects at COP31 highlights Kazakhstan's efforts to turn its climate commitments into concrete investment opportunities and environmental initiatives.

Opening the session, Kazakhstan's Minister of Ecology and Natural Resources, Alibek Kuantyrov, noted that the country's national emissions trading system has been in place since 2013.

He said Kazakhstan is now working to develop a unified carbon market framework that would bring together its existing emissions trading system, voluntary carbon market mechanisms, and international cooperation under Article 6 of the Paris Agreement.

Kuantyrov also emphasized the need for transparent monitoring, reporting, and verification, noting that reliable carbon credits and compliance with international standards are essential for attracting foreign partners and investment in climate projects.

IGTIC Chairman Saken Kalkamanov presented the center as a one-stop platform for international investors seeking opportunities in Kazakhstan's climate and carbon markets.

He outlined its work in supporting projects under Article 6 of the Paris Agreement, maintaining the Green Technologies and Projects Registry, and developing the Kazakhstan Country Climate Investment Platform (QCIP).

The event also featured the signing of a memorandum of understanding between Kazakhstan's Atameken National Chamber of Entrepreneurs and the Turkish Industry and Business Association (TÜSİAD), along with an agreement between Zhasyl Damu JSC and international partners.

The agreements are intended to strengthen business ties and expand cooperation on climate policy and carbon market development.

During the session, participants discussed international transfers of carbon credits, the implementation of Article 6 mechanisms, the expansion of voluntary carbon markets, and ways to attract private investment into environmental projects.

Representatives of NULOOP also submitted recommendations to Kazakhstan's Ministry of Ecology and Natural Resources on developing a nationwide system for collecting and recycling used lithium-ion batteries.

Kazakhstan's participation in COP31 highlights its efforts to turn climate commitments into investment opportunities. The two projects, worth more than 32 billion tenge, are expected to support the growth of renewable energy and the circular economy, while expanding international partnerships could help attract additional capital and introduce advanced environmental technologies.

Earlier, Qazinform reported that Kazakhstan signed $1.2 billion in agreements at COP31 in Antalya.