Prioritizing Methane Reduction in Kazakhstan’s Climate Agenda
Kazakhstan Focuses on Methane Reduction to Combat Climate Change
Hela Cheikhrouhou, International Financial Corporation (IFC) Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, recently visited Kazakhstan to discuss the country’s commitment to reducing methane emissions. Methane, often overshadowed by carbon dioxide in the fight against climate change, plays a significant role in global warming, accounting for around 30% of the rise in temperatures since the Industrial Revolution.
Despite its potency as a greenhouse gas, efforts to mitigate methane emissions remain underfunded, with less than 2% of global climate finance allocated to this urgent cause. The oil and gas industry, responsible for over 60% of methane emissions, plays a crucial role in addressing this issue. Kazakhstan, as the 20th-largest emitter per capita globally, has taken steps to reduce methane flaring emissions but still needs to tackle methane venting.
By joining the Global Methane Pledge and committing to achieving carbon neutrality by 2060, Kazakhstan has shown its determination to combat climate change. The country aims to reduce methane emissions by 30% across sectors of its economy by 2030, requiring an estimated $1.4 billion in investments. A public-private partnership model, with investments from various sources, could help achieve this target.
IFC has conducted an analysis of methane emissions in Kazakhstan’s oil and gas sector, identifying opportunities for private and public sector investments to reduce emissions. Proposed technology solutions for a methane measurement program have been shared with the government. With collaboration and innovative solutions, Kazakhstan can lead the way in methane reduction, contributing to a greener and more sustainable future for the region.
