Option Review for Kazakhstan to Participate in the International Carbon Market

This report explores the options open to the Kazakh Government and the country’s private sector to engage in carbon finance activities as soon as possible, taking into account the legal, institutional and economic aspects. The prospective timeframe analyzed includes both the Kyoto Protocol (the Protocol) commitment period until and including 2012 and the time thereafter. To this end, the report describes the basic division of Annex I country versus developing country Parties under the United Nations Framework Convention on Climate Change (the Convention), and Kazakhstan’s various interventions at the international level to position itself in between this strict divide in the Convention and then in the Protocol.