With support from ADB and partners, Kazakhstan is gearing its national development goals toward greener housing growth.
Relative to the size of the economy, Kazakhstan is one of the largest emitters of greenhouse gas emissions (GHG) in Europe and Central Asia, with total annual emissions of 205.8 million metric tons of carbon dioxide (2019). These emissions threaten Kazakhstan’s sustainable development, which includes prioritizing the availability of quality and affordable housing for a growing population. “Given continued increases in GHG emissions from the housing sector, even while other sectors are reducing emissions, Kazakhstan identified an opportunity to tackle both the housing and GHG challenges,” said Giacomo Giannetto, project officer.
Kazakhstan has directed its national development goals toward greener housing growth. However, the country faces challenges on multiple fronts—high GHG emissions, inefficient house finance framework, and the lack of experience with the design of affordable green housing.
With support from ADB’s financing partners through the Financial Sector Development Partnership Special Fund, Climate Change Fund, and Asia-Pacific Climate Finance Fund, the Supporting Development of Innovative Green Housing Finance technical assistance was approved in 2022. Through the Kazakhstan Housing Company Joint Stock Company, the Government of Kazakhstan will help support the development of green housing finance and a framework for the design of affordable green housing developments.
The technical assistance will specifically help (i) provide policy advice on the selection of green technologies appropriate for the housing sector, (ii) build capacity on financial feasibility assessment of housing project design, and (iii) transfer knowledge on how to design green housing in an urban planned unit development.
These capacity building efforts will support the Kazakhstan Housing Company to deliver its mandate, integrate green technologies in housing projects, and help establish more sustainable green construction and green mortgage finance mechanisms. This will help Kazakhstan reduce greenhouse gas emissions and expand its housing stock.
"Given continued increases in GHG emissions from the housing sector, even while other sectors are reducing emissions, Kazakhstan identified an opportunity to tackle both the housing and GHG challenges."
~ Giacomo Giannetto, ADB principal financial sector specialist
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