>>>Kazakhstan has announced plans to introduce a carbon trading scheme next year that will help reduce emissions
STORY: Taking note of pollution and putting in place mechanisms to reduce emissions is one sign of a modernising, confident economy.
By announcing that it plans to introduce a basic carbon emissions trading scheme next year, Kazakhstan is self consciously moving into this group.
Under the scheme, announced on Nov. 22, businesses emitting more than 20,000 tonnes of carbon a year, that’s only the very biggest factories and plants, will be obligated to buy extra credit if they exceed their limits.
It’s a similar scheme to ones already introduced by the EU, Australia, China, Vietnam, South Korea and others.
Under the Kyoto Protocol, a UN agreement signed by most countries in the Japanese city in 1997, Kazakhstan needs to reduce its greenhouse gas emissions by 15% by 2020 and 25% by 2050.
Notably, the US has not ratified the Kyoto Protocol.
For developing economies, which are normally geared towards heavy industry, reducing carbon emissions is hard.
The former Soviet states do have an advantage, though. In 1990, the Soviet Union was still in existence and heavily polluting factories dotted the landscape. Emissions in 1990 were far higher than today.
Meeting its Kyoto Protocol requires should be fairly straight forward for Kazakhstan but introducing its emissions trading scheme, dubbed KazakhCarbon, is still a positive statement of intent.
This story was first published in issue of 36 (Nov. 23) of the Silk Road Intelligencer newssheet, a weekly news bulletin covering the most important news from Kazakhstan. For more information on the newssheet and to subscribe for free, click here