Scan the Eurasian horizon for new CO2 offset opportunities

To discuss the establishment of such offset schemes, IIASA co-hosted the inaugural exploratory dialogue on Scaling Up Climate Action in Eurasia: Agriculture and Carbon Trading, alongside the BRICS Competition Law and Policy Center, TALAP Center for Applied Research, National ESG Club, and Green Finance Center (GFC) which took place on October 3, 2022 at the Astana International Financial Center (AIFC), Kazakhstan. The dialogue brought together key stakeholders in discussions, including regional politicians, private sector actors and scientists, to identify key opportunities and challenges for implementing a carbon market in Eurasia with a platform carbon trading plant established in Kazakhstan.

IIASA Director General Albert Van Jaarsveld delivered his keynote address on IIASA’s research on carbon sequestration and the importance of net negative emissions in addressing climate change. He highlighted IIASA’s established reputation for systemic analysis of human-Earth systems under the pressures of climate change, including the contributions of William Nordhaus, recipient of the 2018 Nobel Prize in Economics, who began his research on the economics of climate change at IIASA in the late 1970s.

Next, Michael Obersteiner, Director of the Environmental Change Institute at the University of Oxford and Principal Investigator in the IIASA Advancing Systems Analysis (ASA) program, presented new tools to assess and coordinate policy actions across multiple countries to achieve the goals of the Paris Climate Agreement using modeling and machine learning. He presented the expected positive growth in demand for carbon offsets over the next decade and the economic prospects of carbon farming combined with technological sequestration methods over time. Obersteiner concluded by re-emphasizing the longevity and expected growth of carbon-producing industries and stressed the importance of Eurasia’s participation in its future.

The event was supported by the Ministry of Trade and Absorption and the Ministry of Agriculture of the Republic of Kazakhstan (RK) and in the presence of Serik Zhumangarin, Deputy Prime Minister and Minister of Trade and Integration of the RK. Throughout his tenure in government, Serik Zhumangarin represented several ministries, from Economic Development and Trade to Protection and Promotion of Competition. In his speech at the event, he highlighted the importance of integrating agricultural industries into emission reduction activities and giving farmers the opportunity to derive income from carbon sequestration. Zhumangarin further highlighted the 80 million hectares of unusable land in Kazakhstan that can be reused for carbon sequestration. He concluded by reinforcing Kazakhstan’s potential to become a key player in agricultural carbon markets in Eurasia, as well as its broader interests in the global climate change agenda.

As part of the extended IIASA delegation, Pradeep Monga, former director of the energy branch of the United Nations Industrial Development Organization (UNIDO), Vienna also presented the importance of developing climate resilience mechanisms. nature-friendly and establish inclusive carbon trading platforms bringing prosperity to local people. young people, communities and businesses.

Advancing Systems Analysis (ASA) Program Director Elena Rovenskaya moderated a panel discussion on new technologies for carbon farming and increasing the resilience of rural communities to climate change. ASA researchers have conducted extensive research in the areas of net negative emissions, emissions trading markets, and climate-related risks for smallholder farmers. ASA’s experience in inter- and transdisciplinary methodological research, as well as its principle of mobilizing shared scientific tools for systems-scale analysis, is therefore well suited to discussions of carbon farming in the arid belt. eurasian.

Overall, the dialogue provided excellent food for thought on the commodification of carbon sequestration systems and broadening the horizon for Eurasia to play a central role in hosting these platforms. exchange. The long-term scope of carbon sequestration and the focus on Eurasian regions motivates and inspires IIASA to continue its research on this front, in line with its ambitions for greater international integration and policy impact.

Watch the recorded stream of the event here.

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