Given the importance of the climate agenda and maintaining the country’s goals to achieve carbon neutrality by 2060 and reduce greenhouse gas emissions by 15% of the 1990 level, «KazMunayGas» intends to focus on a moderate, balanced, and consistent decarbonization of operation. To meet this challenge, KMG adopted the Low-Carbon Development Program (LCDP) for 2022-2031.
Targets for reduction of direct and indirect
emissions by 2031
emissions by 2031
It should be noted that this goal does not include new projects and will be reviewed as the KMG Low-Carbon Development Program is developed. 2019 is defined as the standard year closest to the typical operations of the KMG group of companies, unlike 2018, which was affected by the economic crisis, and 2020, which was affected by the coronavirus pandemic.
KMG annually participates in the Carbon Disclosure Project (CDP) - Climate Change climate rating. In 2020, KMG has a «C» rating, which is in line with the average global rating of all companies participating in the rating, as well as the average performance of companies in the oil and gas production and processing category. As part of the implementation of the KMG Low-Carbon Development Program for the period 2022-2031, the Company plans to gradually improve the CDP climate rating and sets the goal of achieving «A» ratings applied to leading companies that implement the best available climate change management technologies.
As part of measures to improve international ratings for climate risk management and sustainable development, KMG plans to introduce reporting standards in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
As part of measures to improve international ratings for climate risk management and sustainable development, KMG plans to introduce reporting standards in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
