Decarbonization of the Kazakhstan Economy: Prospects for the Energy Transition

Abstract

The growing importance of the carbon footprint of products in international competition will intensify the search for new approaches to the decarbonization of countries with economies in transition. The article summarizes the results achieved by Kazakhstan in overcoming the difficulties of implementing a “green” approach and finding effective ways to decarbonize the economy. The methodological basis of the study is based on a systematic approach to assessing the sustainability of Kazakhstan’s development and summarizing the world experience of transition to a low-carbon economy. The authors focus on the current problems of the industry in the context of creating a circular economy based on renewable resources. The influence of the transformation of the energy system on the country’s economy is shown. It is substantiated that the decline in commodity prices in the world markets and the dependence of the economy on energy have a negative impact on both the fuel and energy complex and related industries. It has been established that one of the effective ways to strengthen the position of Kazakhstan in international value chains is the implementation of a proactive strategy for the decarbonization of industry, taking into account national interests. Given that the country continues to demonstrate relatively high levels of energy intensity on a global scale, the progress of the extractive industries requires government assistance and intensified public-private partnerships.