ENHANCING THE GREEN ENERGY REVOLUTION: ANALYZING THE IMPACT OF FINANCIAL AND INVESTMENT PROCESSES ON RENEWABLE ENERGY PROJECTS IN KAZAKHSTAN

Authors

  • Sayan Shakeyev Academician Y.A.Buketov Karaganda University, Karaganda, Kazakhstan
  • Parida Baineyeva Department of Economics and Law of the Zhumabek Tashenev University Kazakhstan, Kazakhstan
  • Aigul Kosherbayeva Applied Research Institute at the Academy of Public Administration under the President of the Republic of Kazakhstan, Kazakhstan
  • Gulmira Yessenova Department “Accounting and Finance;, JSC Kazakh University of Technology and Business, Kazakhstan
  • Azamat Zhanseitov Academy of Public Administration under the President of the Republic of Kazakhstan, Kazakhstan

DOI:

https://doi.org/10.2478/eoik-2023-0057

Keywords:

Kazakhstan, Green Economy, Renewable Energy, Investment, Economy Growth

Abstract

As a fossil fuel-dependent nation, Kazakhstan is caught between is-
sues and possibilities in its search for a sustainable energy transition.
Despite its tremendous resources, Kazakhstan’s renewable energy ca-
pacity is 1%, much behind its non-renewable peers. According to this
research, green fiscal policies in renewable energy firms are needed to
reduce the country’s political and economic dependence on the global
oil sector. This report emphasizes regional collaboration and Kazakh-
stan’s potential leadership in Central Asian Green Economy projects.
Kazakhstan can promote renewable energy adoption and economic
sustainability by forming regional alliances.
Challenges lie ahead on the green future path, so this paper addresses
legislative, infrastructure, financial, and data barriers to green fiscal
initiatives in Kazakhstan. It stresses the significance of holistically
tackling these concerns, including banking and stock market reforms
and sustainable planning. Policymakers and stakeholders in Kazakh-
stan can use the research findings to boost the economy, fight cor-
ruption, and increase political engagement. Upskilling the workforce
to support green technology and local renewable energy production
is recommended. The report recommends proactive global crisis pre-
diction and management to help Kazakhstan handle economic and
environmental challenges. Hence, the above actions are crucial to Ka-
zakhstan’s goal of industrialization by 2050. Kazakhstan can lead a
world rapidly moving to green energy by committing to green fiscal
methods, regional collaboration, and addressing the many obstacles to
development. By doing so, it can safeguard its future and advance the
global green energy revolution.

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Published

2023-12-24

How to Cite

Shakeyev, S. ., Baineyeva, P. ., Kosherbayeva, A. ., Yessenova, G. ., & Zhanseitov, A. . (2023). ENHANCING THE GREEN ENERGY REVOLUTION: ANALYZING THE IMPACT OF FINANCIAL AND INVESTMENT PROCESSES ON RENEWABLE ENERGY PROJECTS IN KAZAKHSTAN. ECONOMICS - INNOVATIVE AND ECONOMICS RESEARCH JOURNAL, 11(Special issue 1), 165–182. https://doi.org/10.2478/eoik-2023-0057