On October 3, the International BRICS Competition Law and Policy Centre together with International Institute for Applied Systems Analysis (IIASA), TALAP Center and GFC held an International Inaugural Dialogue "Scaling up climate action in Eurasia: Carbon farming and trading" as part of 2022 World Investor Week in AIFC in Astana, Kazakhstan.
You can find Full Program and Event Live Stream here.
More than a hundred countries collectively accounting for 83% of global emissions have already committed to reaching net zero emissions by mid-century. Carbon offsetting is a key tool to support industries and companies around the world striving to reduce their net carbon footprint.
A significant carbon offsetting potential lies in the adoption of carbon farming. Compared with conventional farming methods, carbon farming holds promise to generate lower GHG emissions and promote larger carbon sequestration by biomass and soil. Smart carbon farming may also deliver other benefits including biodiversity conservation, reduced soil erosion, improved water holding capacity of soils, among others.
The event focused on the rationale of and potential avenues for setting up a carbon market involving various Eurasian states; on the possibility to establish a carbon exchange to support this market in Kazakhstan; and on the integration of the Eurasian carbon market with other, national and international, carbon markets. Challenges and opportunities of deploying a carbon farming industry in Eurasia were also discussed.