Prime Minister Olzhas Bektenov held a meeting with the Vice President for Asset Management of the British company SEFE Marketing&Trading Limited Alexander Demidov and the Director of Kazakhstan’s SAFC LLP Yuri Kim. They discussed cooperation issues using the example of the implementation of the first forest climate project in Kazakhstan, Primeminister.kz reports.

As part of the memorandum concluded in the presence of the President of Kazakhstan on the sidelines of the World Climate Summit COP 28 in Dubai in December 2023, an agreement was signed today in Astana between SEFE Marketing & Trading Ltd. and SAFC LLP, providing for investments by the British company in forest planting and the release of carbon units over 30 years.

The project aims to create a forest ecosystem in the Almaty region, on an area of ​​1,500 hectares. It is planned to plant 3.3 million trees, including poplars, elms and related species (turanga, birch, ash, rose hips, sea buckthorn, etc.). The implementation will be carried out using water-saving technologies and intensive agricultural technology. According to forecasts, the average annual emission reduction will be 26 tons of CO₂ per hectare. In total, 1.2 million tons of carbon dioxide will be removed in 30 years, which is equivalent to 780 tons of CO₂ per hectare. In addition, the expected effect is in the form of development of agroforestry, ecotourism and creation of jobs.

The head of government noted the importance of working together with businesses to ensure environmental balance.

“In his Address, the Head of State paid special attention to environmental issues, preservation and enhancement of Kazakhstan’s natural resources. Forest restoration is of paramount importance to us. We strive to create favorable conditions for attracting foreign investment in environmental projects. The government supports projects aimed at restoring ecosystems, reducing the carbon footprint, developing a green economy and other key areas,” Olzhas Bektenov emphasized.

SEFE Vice President Alexander Demidov and SAFC LLP Director Yuri Kim during the conversation outlined the uniqueness and importance of the project not only for Kazakhstan, but also for the entire Central Asian region. The initiative is an example of effective interaction between business, government and international partners.