Assessment of financial support for the green development of Kazakhstan and its regions based on OECD indicators

Abstract

The article analyzes the availability of financial and investment resources for the green
development of the economy of Kazakhstan and assesses the effectiveness of the investment policy
of the republic and its regions. The data of the Bureau of National Statistics of the Agency for
Strategic Planning and Reforms of the Republic of Kazakhstan, the Department of Statistics of
the East Kazakhstan region, socio-political publications of the republican and regional levels,
Internet resources of the OECD, the EBRD, and other sources were used as the information base
of the analysis. The study revealed the relationship between the level of costs and investments
for environmental protection with the amount of greenhouse gas emissions and climate change.
An assessment of the effectiveness of the environmental taxation policy and the mechanism for
compensating losses from negative environmental impacts is given.
The positive and negative aspects of the investment policy of environmental protection both at
the republican and regional levels are revealed. It is concluded that there is insufficient financial
support for «green» development in the Republic of Kazakhstan and that it is necessary to further
improve the financial mechanism of environmental protection management.