Kazakhstan’s AIFC Green Finance Center LTD and CREON Capital S.a.r.l. signed a memorandum of understanding and partnership to strengthen cooperation in the field of carbon capture, storage and utilization (CCUS). The document was signed by AIFC’s Business Development Director Manas Gijduaniev and CREON Capital’s Development Director Florian Willershausen. The event took place in Moscow on 28 September as part of the CCUS 2021 conference organized by Creon Energy.
Creon Capital will support Kazakhstan in its efforts to fulfill the obligations to reduce greenhouse gas emissions, taken by the republic under the Paris Agreement. The parties will also jointly explore opportunities for the implementation of projects and CCUS technologies, and will exchange experience in this area. Kazakhstan will be able to count on assistance on issuing green financial products in Luxembourg to finance environmental projects, as well as co-Investments.
AIFC GFC is a subsidiary of Astana International Financial Center Administration JSC and is responsible for the implementation of green finance instruments in Kazakhstan and Central Asia. CREON Capital operates the Luxembourg-based Creon Energy Fund, a private equity fund that invests in promising energy and ESG-compliant industrial projects as well as green tech.