The World Bank Implementation Status & Results Report Kazakhstan Partnership for Market Implementation (P177785) Kazakhstan Partnership for Market Implementation (P177785) EUROPE AND CENTRAL ASIA | Kazakhstan | IBRD/IDA | Investment Project Financing (IPF) | FY 2023 | Seq No: 2 | Archived on 04-Oct-2024 | ISR01867 Implementing Agencies: Ministry of Ecology and Natural Resources, Zhasyl Damu JSC under Ministry of Ecology and Natural Resources 1. OBJECTIVE 1.1 Development Objective Original Development Objective (Approved as part of Approval package on 18-Aug-2022) To strengthen the effectiveness of Emission Trading Scheme and support carbon pricing expansion to contribute to Kazakhstan's updated 2030 Nationally Determined Contribution targets and 2060 carbon neutrality goals. Has the Development Objective been changed since Board Approval of the Project Objective? No 2. OVERALL RATINGS Name Previous Current Progress towards achievement of PDO Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Unsatisfactory Overall Risk Rating Moderate Moderate 3. KEY ISSUES & STATUS 3.1 Implementation Status and Key Decisions The PMI Grant Agreement was signed by the Minister of Ecology and Natural Resources (MENR) on April 24, 2024, and declared effectiveness on July 16, 2024. The implementation hasn't started yet given additional procedural clarifications required for the implementation arrangements. The PMI activities are expected to be launched by end-October 2024. 4. SYSTEMATIC OPERATIONS RISK-RATING TOOL Oct 04, 2024 Page 1 of 6 The World Bank Implementation Status & Results Report Kazakhstan Partnership for Market Implementation (P177785) Rating at Approval Last Approved Rating Risk Category Approval Package - ISR Seq. 01 - 21 Sep Proposed Rating 19 Aug 2022 2023 Overall Moderate Moderate Moderate Oct 04, 2024 Page 2 of 6 The World Bank Implementation Status & Results Report Kazakhstan Partnership for Market Implementation (P177785) 6. RESULTS 6.1 PDO Indicators Baseline Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Month/Year No carbon tax and ETS Sep/2022 n/a 20-Sep-2024 ETS expanded to cover Dec/2026 covers its existing one more sector, or Carbon pricing expanded (Text) sectors, larger emitters more emitters, or and GHG (CO2). methane, or a carbon tax is introduced. Reduction in GHG emission allowance 0.00 Sep/2022 0 20-Sep-2024 7.00 Dec/2026 cap in the ETS (reduction compared to the 2021 National Allocation Plan) (percentage) (Percentage) Procedures for validation and No Sep/2022 No 20-Sep-2024 Yes Dec/2026 verification of GHG emissions digitalized and complies with international requirements and experience (i.e., Transparency Framework of the Paris Agreement) (Yes/No) Page 3 of 6 The World Bank Implementation Status & Results Report Kazakhstan Partnership for Market Implementation (P177785) 6.2 Intermediate Results Indicators Baseline Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Month/Year Allowance auction is introduced in ETS No Sep/2022 No 20-Sep-2024 Yes Dec/2026 (Yes/No) Accounts opened to register carbon 0.00 Sep/2022 0 20-Sep-2024 15.00 Dec/2026 offset projects in the carbon registry (Number) Benchmark values updated to reflect Existing benchmarks Sep/2022 Existing benchmarks 20-Sep-2024 Benchmarks updated Dec/2026 technological progress in different sectors in line with international environmental standards (Text) Page 4 of 6 The World Bank Implementation Status & Results Report Kazakhstan Partnership for Market Implementation (P177785) 6. DISBURSEMENTS 6.1 Cumulative Disbursements 6.2 Disbursements (by loan) Loan/Credit/TF Status Original Revised Cancelled Disbursed Undisbursed % Disbursed Historical Disbursed TF-B9097 Effective 4.80 4.80 0.00 0.00 4.80 0% 4.80 6.3 Key Dates (by loan) Loan/Credit/TF Status Approval Signing Effectiveness Orig. Closing Rev. Closing TF-B9097 Effective 19-Aug-2022 24-Apr-2024 16-Jul-2024 31-Dec-2026 31-Dec-2026 Oct 04, 2024 Page 5 of 6 The World Bank Implementation Status & Results Report Kazakhstan Partnership for Market Implementation (P177785) 7. RESTRUCTURING HISTORY Restructuring Level 2 Approved on 24-Sep-2023 8. ASSOCIATED OPERATION(S) There are no associated operations Oct 04, 2024 Page 6 of 6