Rio +20

Kazakhstan played a pivotal role in ratifying the Rio +20 initiative to usher in an international green economy

At the Rio+20 UN Conference on Sustainable Development the Kazakhstan sponsored “Green Bridge” initiative was ratified as a means to create a practical mechanism to achieve an international shift to a green economy, through promoting technology transfer and environment management experience, and putting in place improved legal, economic and institutional conditions to encourage a new wave of green industry. Since Rio, there has been considerable buy in from major foreign investors including the European Bank for Reconstruction and Development (EBRD), the International Financial Corporation, the World Bank and partner governments. The EBRD has already invested over US$ 650 million in energy efficiency projects in Kazakhstan in corporate energy efficiency, credit lines to partner banks for on-lending to the private sector, cleaner energy production, renewable energy, and municipal infrastructure energy efficiency – resulting in a reduction of greenhouse gas emissions by 3,885 kilotonnes per year.