Kazakhstan to spend 2% of its GDP annually on green technology

Kazakhstan will be investing 2% of its GDP into green technology, President Nursultan Nazarbayev said when speaking at the Astana Economic Forum. “Although Kazakhstan possesses abundant natural riches, including hydrocarbons, we are determined to actively develop renewable sources of energy. It’s a priority in the country’s 2050 Strategy. We intend to invest 2% of the country’s GDP into green technology annually as part of the national plans to shift to the green economy”, President Nazarbayev said. “Upon the world exiting the global financial crisis, the human kind will inevitably be consuming more (…) Nowadays every fifth person has no access to electric power. It’s unjustified carelessness to postpone searching for solutions to environment-related issues”, President emphasized. In this context President invited foreign partners to contribute to prep works for the EXPO-2017 focused on energy of the future. Kazakhstan is working on legislation to support use and development of renewable sources of energy. The draft legislation has been approved by the country’s Majilis (lower chamber).