By Faridat Salifu
In a bid to establish Central Asia as a green economic hub, Kazakhstan is forging a strategic partnership with the European Union (EU), built on shared Environmental, Social, and Governance (ESG) principles.
At a recent Berlin Eurasian Club (BEC) meeting in Brussels, representatives from Kazakhstan and the EU highlighted their collaborative goals for sustainability, setting the stage for deeper economic ties rooted in environmental responsibility.
The October 17 BEC meeting underscored Kazakhstan’s efforts to meet EU standards on sustainability. Kazakhstan’s Deputy Foreign Minister, Roman Vassilenko, explained how the country’s latest economic strategy prioritizes sustainable development, aiming to achieve carbon neutrality by 2060.
By embedding ESG standards across various sectors, Kazakhstan seeks to align more closely with EU expectations, making itself more attractive to European investors who value eco-friendly and transparent business practices.
Kazakhstan’s efforts have already gained traction with European investors. At the recent Kazakh-German Business Forum, 41 agreements were signed, totaling $6.3 billion in investments—significant funding that reflects Europe’s growing interest in Kazakhstan’s market.
Vassilenko emphasized the importance of expanding this investment network, urging European partners to explore additional sustainable investment opportunities that could bolster long-term regional growth.
This alignment with ESG principles not only increases Kazakhstan’s appeal as an investment destination but also opens the door for the country to join European supply chains governed by sustainable standards. As Kazakhstan aligns more closely with EU regulatory expectations, European companies find it easier to establish operations there.
Kazakhstan’s green energy initiatives were a focal point at the BEC meeting, with particular attention on a large-scale green hydrogen project spearheaded by the HYRASIA/Svevind consortium.
The European Commission’s Energy Task Platform sees this initiative as a major step for Europe’s energy transition, presenting a promising alternative energy source.
Kazakhstan’s recent decision to join the Global Methane Pledge is another move that aligns it with EU sustainability targets. This commitment reflects Kazakhstan’s dedication to reducing emissions, fostering potential for collaboration in energy infrastructure that could benefit both regions.
Kazakhstan’s financial sector is also advancing in ESG implementation, creating frameworks to enhance transparency and environmental responsibility. This transformation is essential for attracting international financing, as Kazakhstan seeks to establish itself as a trustworthy partner for sustainable investments. By adopting a carbon credit trading system, Kazakhstan not only aligns with EU emission standards but also builds a foundation for regional ESG leadership.
As Kazakhstan strengthens its ESG regulations, the country’s financial ecosystem is poised to attract more European businesses and investors, confident in Kazakhstan’s long-term sustainability commitment.
Kazakhstan’s target of carbon neutrality by 2060 positions it as a Central Asian leader in green policy. The country’s strategy involves investing in renewable energy, upgrading technology, and working with international partners like the EU. With the EU’s support through funding, expertise, and technology, Kazakhstan is accelerating its green transition, which could serve as a model for other Central Asian countries.
Since its founding in 2012, the Berlin Eurasian Club has fostered dialogue between the EU and Central Asia on a range of socio-political, economic, and educational topics.
The recent meeting reinforced BEC’s role as a bridge for EU-Kazakhstan relations, providing a platform for Kazakhstan to demonstrate its commitment to sustainable growth and for the EU to back green initiatives in the region.
Kazakhstan’s adherence to ESG standards not only supports its own sustainability goals but also strengthens its economic ties with the EU.
By pursuing green investments, complying with European regulatory standards, and participating in global environmental commitments, Kazakhstan is positioning itself as an innovative player in Central Asia’s economic development.
This partnership between Kazakhstan and the EU exemplifies how sustainability and economic growth can go hand in hand. As the two regions deepen their collaboration, they’re building a foundation for sustainable development that could reshape Central Asia’s role in the global economy.
Through ongoing cooperation on renewable energy, sustainable finance, and environmental governance, Kazakhstan and the EU are not just aligning their own goals but are also setting a precedent for other countries to follow in the pursuit of a green future.