Dubai, UAE– Japan is launching leading decarbonization technologies and infrastructure through investments in the country’s enterprises in line with the recommendations of paragraph 6 of the Paris Agreement. Yutaka Matsuzawa, Vice-Minister for Global Environmental Affairs, Ministry of Environment of Japan, stated at the side event “Towards Achieving Climate Ambitions: Development of Carbon Markets in Central Asia” on December 4, 2023.

Yutaka Matsuzawa presented the experience of developing carbon markets in Japan. The country introduced an experimental emissions trading system in 2023. In October this year, the Tokyo Stock Exchange opened the carbon market for carbon trading, which is known as J-Credits.

Japan has set up a Joint Committee on low-carbon development. Today, it comprises 28 countries, including Kazakhstan joined in October 2023.

The participants of the side event shared their experience in achieving carbon neutrality, presented projects, and plans for the future.

Chairman of the Board of Directors, Association of RES “Qazaq Green”, Nurlan Kapenov, noted that Kazakhstan has achieved a good development of renewable energy sources (RES) in an evolutionary way. It installed 141 stations with a capacity of 2,716 MW.

At the side event, much attention was paid to the issues of reforming the emissions trading system (ETS) and the relevance of changes in accordance with global goals to achieve carbon neutrality.

Nurlan Kapenov noted that today in Kazakhstan there are no tools to reduce the carbon footprint, and the Qazaq Green Association aims to develop such a tool and introduce the Verified Carbon Standard (VCS).

The side event is organized by the Astana International Financial Centre (AIFC).

Video recording is at

To learn more about COP28 CA Pavilion please visit эхgs/cop28/

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