推进国家气候计划的投资政策

Investmentpoliciestoadvancenationalclimate

plans

ii

Thispublicationhasnotbeenformallyedited.

UNCTAD/DIAE/PCB/2025/2(Advancecopy)

iii

Note

Underitsoverallmandateontradeanddevelopment,UnitedNationsConferenceonTradeandDevelopment(UNCTAD)servesasthefocalpointwithintheUnitedNationsSecretariatforallmattersrelatedtoforeigndirectinvestment(FDI).Itsworkiscarriedoutthroughintergovernmentaldeliberations,researchandanalysis,technicalassistanceactivities,seminars,workshopsandconferences.

Informationabouttheproducts,frameworks,servicesandpublicationsoftheDivisiononInvestmentandEnterprise(DIAE)canbefoundfreeofchargeattheUNCTADwebsite(

/diae

)orontheinstitution’sinvestmentpolicyhub

()

.

Investmentpoliciestoadvancenationalclimate

plans

iv

Tableofcontents

Acknowledgements v

i

Abbreviations v

ii

Summary viii

PartI

IntegratingforeigndirectinvestmentintheNDCs 1

Guideline1.RecognizetheroleofFDIinachievingtheNDCs 2

Guideline2.EngagenationalinvestmentinstitutionsinNDCdesignandimplementation 3

Guideline3.Identifyclimate-strategicsectorsandsettargetsforFDI 4

Guideline4.Clarifyinvestmentpathwaysandsupportmechanisms 6

PartII

Mainstreamingclimateininvestmentpolicy 9

Guideline5.EnsurestrategicopennesstoFDIinclimate-relatedsectors 10

Guideline6.Streamlineadministrativeprocedurestofacilitateclimate-alignedinvestments 12

Guideline7.Securelandtenure 13

Guideline8.Addressinfrastructureandskillsgapsforclimate-alignedinvestment 16

Guideline9.Aligntaxincentivesandsubsidieswithclimateobjectives 18

Guideline10.Aligninternationalinvestmentagreementswithclimateobjectives 19

PartIII.

Promotinginvestmentinclimate-relatedsectors 22

Guideline11.Aligninvestmentpromotionstrategieswithclimatepriorities 23

Guideline12.Developrobustpipelinesofclimateinvestmentprojects 25

Guideline13.Advanceprojectsthroughthepipeline 30

Guideline14.Proactivelytargetandfacilitateinvestment 33

Guideline15.Strengthencapabilitiesforclimate-alignedinvestmentpromotion 35

References 37

Investmentpoliciestoadvancenationalclimate

plans

v

Figures

Figure1:FDIintegrationintheNDCs 1

Tables

Table1Selectedinternationalprojectpreparationfacilities ...32

Boxes

Box1Tradepoliciestoadvancenationalclimateplans:guideforpolicymakers x

Box2EnergytransitioninvestmentplanningforNDCimplementation 8

Box3Greenbondsandprojectpipelines 28

Box4Stepstobuildandpromoteanationalclimateinvestmentpipeline 29

Investmentpoliciestoadvancenationalclimate

plans

vi

Acknowledgements

ThisreportwaspreparedbytheUNCTADDivisiononInvestmentandEnterprise(DIAE),withoverallguidancefromNanLiCollins,Director,andunderthesupervisionofMassimoMeloni,ChiefofInvestmentPolicyResearchsection.ThereportteamwascomprisedofSusanAghajaniandMathildeClosset.ResearchinputswereprovidedbyDafinaAtanasova.

UNCTADgratefullyacknowledgesthevaluablecommentsandsuggestionsfromAshrafAbdelaal,StephaniaBonilla,ClaudiaContreras,ChantalLineCarpentier,ChantalDupasquier,HamedElKady,MahaElMasri,NataliaGuerra,YiLiu,StephaniaMageste,IanRichards,JoseSanchezRodriguez,AmeliaSantosPaulino,ArletteVerploeghChabot.

AdministrativesupportwasprovidedbyJovanLicina.BethHelfandundertookcoverdesignanddesktoppublishing.

Investmentpoliciestoadvancenationalclimate

plans

vii

Abbreviations

BIP

BrazilClimateandEcologicalTransformationInvestmentPlatform

COP

ConferenceoftheParties

DIAE

DivisiononInvestmentandEnterprise

EVOSS

EnergyVirtualOne-StopShop(Philippines)

FDI

foreigndirectinvestment

GCF

GreenClimateFund

GDP

grossdomesticproduct

GHG

greenhousegas

ICMA

InternationalCapitalMarketAssociation

IIA

internationalinvestmentagreement

IPA

investmentpromotionagency

IPP

Independentpowerproducer

ISDS

Investor–statedisputesettlement

KPI

keyperformanceindicator

MDBs

multilateraldevelopmentbanks

NDC

nationallydeterminedcontributions

OECD

OrganizationforEconomicCo-operationandDevelopment

PPP

public–privatepartnership

PPF

projectpreparationfacility

PV

photovoltaic

REIPPPP

RenewableEnergyIndependentPowerProducerProcurementProgram(SouthAfrica)

SDGs

SustainableDevelopmentGoals

SME

smallandmedium-sizedenterprise

UNCTAD

UnitedNationsConferenceonTradeandDevelopment

UNDP

UnitedNationsDevelopmentProgram

UNFCCC

UnitedNationsFrameworkConventiononClimateChange

WEF

WorldEconomicForum

Investmentpoliciestoadvancenationalclimate

plans

viii

Summary

Investmentpoliciestoadvancenationalclimate

plans

ix

Introduction

AchievingthegoalsoftheParisAgreement(2015)requiressubstantialfinancingtodevelopandimplementinvestmentprojectsnecessaryfordeliveringnationallydeterminedcontributions1(NDCs).ThesuccessfulimplementationofNDCscouldnotonlylimitthehazardouseffectsofclimatechangebutalsolifthundredsofmillionsofpeopleoutofpovertyandincreaseglobalgrossdomesticproduct(GDP)byupto13percentby2100(OECDandUNDP,2025).Inadditiontotheneedtopursuedecarbonizationandcontributetoglobalclimatechangemitigation,developingcountriesfacetheimperativeofsimultaneouslytacklingmultiplechallenges,includingaddressingurgentdevelopmentneeds,suchasenergyaccess,jobcreationandeconomicdiversification,andstrengtheningresiliencetothegrowingimpactofclimatechange,withinthebroadercontextofthetripleplanetarycrisis—climatechange,biodiversitylossandpollution.

Foreigndirectinvestment(FDI)canplayanimportantroleinaddressingsuchchallengesbybringinglong-termcapitalandtechnologicalexpertiseandcontributingtoregionalandglobalvaluechainintegration.Whenstrategicallydirected,itcanalsohelpexpandinfrastructureandstrengthenproductivecapacitiesinclimate-strategicsectors,suchasrenewableenergy,sustainabletransport,agriculture,tourismandtheblueeconomy.Yet,currentFDIflowsremaininsufficientandunevenlydistributed(UNCTAD,2025a)withinvestmentneedsintherenewableenergysectoraloneamountingtoapproximately$2.2trillionannually,morethanhalfofthetotalSDGinvestmentgap(UNCTAD,2023a).

ThisguidecomplementsUNCTAD’sguideontradepoliciestoadvanceclimateplans(box1).“Zerodrafts”ofbothdocumentswereintroducedforconsultationwithstakeholdersinNovember2024atthetwenty-ninthsessionoftheConferenceofthePartiestotheUnitedNationsFrameworkConventiononClimateChange(UNFCCC),heldinBaku,Azerbaijan(UNCTAD,2024).ByfocusingspecificallyonFDIpoliciestosupportNDCimplementation,thisguidealsocomplementsotherinitiatives,includingtheClimateInvestmentPlanningandMobilizationFrameworkoftheNDCPartnershipandtheGreenClimateFund(GCF).Asalivingdocument,theguidereflectscurrentcountryexperiencesandgoodpracticesandwillbeupdatedasnewlessonsandapproachesemerge.

DrawingonUNCTAD’sexpertiseininternationalandnationalinvestmentpolicyandpromotion,thisguideofferspolicymakersapracticalroadmaptointegrateinvestmentandFDIneedsintoNDCs(PartI),alignnationalpolicyframeworkswithclimateobjectives(PartII),andstrengthenpromotioneffortstoattractbankableclimate-alignedprojects(PartIII).UNCTADstandsreadytoprovideassistancetocountriesinimplementingtheguide.

1Article4oftheParisAgreementrequireseachPartytoprepare,communicate,andmaintainsuccessivenationallydeterminedcontributions(NDCs)thatitintendstoachieve,andtopursuedomesticmitigationmeasurestomeettheseobjectives.EachsuccessiveNDCwouldrepresentaprogressionandreflecttheParty’shighestpossibleambition,takingintoaccountcommonbutdifferentiatedresponsibilitiesandrespectivecapabilitiesinlightofnationalcircumstances.DevelopedcountryPartiesareexpectedtotaketheleadthrougheconomy-wideemissionreductiontargets,whiledevelopingcountryPartiesareencouragedtoenhancetheireffortswithsupportforfinance,technology,andcapacity-building.AllPartiesshouldcommunicateupdatedNDCseveryfiveyears,informedbytheglobalstocktake.

Investmentpoliciestoadvancenationalclimate

plans

x

Box1

Tradepoliciestoadvancenationalclimateplans:guideforpolicymakers

InternationaltradeisacriticaltoolforadvancingtheobjectivesoftheParisAgreementandtheSustainableDevelopmentGoals(SDGs).Itfacilitatesaccesstoenvironmentallypreferablegoodsandservices,technologies,andknowledgethatsupportthedesignandimplementationofNDCsandthedevelopmentandstrengtheningofclimate-resilient,low-carbonvaluechains.

UNCTAD’sTradepoliciestoadvancenationalclimateplans:guideforpolicymakerssetsoutasix-stepprocesstointegratetrade-relatedmeasuresintoNDCs.Theprocessbeginswiththedesignationofclimateandtradefocalpointsandcontinueswiththeidentificationandprioritizationofclimate-strategictradesectors,anassessmentofthekeygoodsandservicesrequiredforNDCdesignandimplementation,aswellastheformulationofpolicymeasuressuchassustainability-linkedpublicprocurement,technicalregulations,market-basedmechanismsandpotentiallyselectedtariffreductions.Theguidealsohighlightstheimportanceofbroadandinclusiveconsultationswithindustry,micro-,small-andmedium-sizedenterprises(SMEs)andtradestakeholderstoensurethatthemeasuressupportbothmitigationandadaptationwhilecreatinginclusiveeconomicopportunities.

IntegratingtradepolicyintoNDCscanlowerthecostofclimatetechnologiesandotherlow-carbongoodsunavailablelocallybyfacilitatingtheirimport,strengthensustainableexportdiversification,participationinsustainablevaluechainsandpreservingmarketaccessastradingpartnersadoptcarbon-relatedregulations.

Aligningtrade,industrial,climateanddevelopmentstrategiesimprovespolicycoherenceandresiliencewhileboostinginvestmentattractiveness.Itcanalsohelptoreduceinputcostsandattractprivateandconcessionalcapital.

Together,UNCTAD’stradeandinvestmentguidesprovideacoherentframeworkforaligningclimate,trade,investment,industrialanddevelopmentstrategiestofosterresilient,low-carbondevelopment.

Source:UNCTAD(2025b).

Investmentpoliciestoadvancenationalclimate

PartI.

Integratingforeign

directinvestmentintheNDCs

plans

Investmentpoliciestoadvancenationalclimate

plans

1

Why?

ThefirstgenerationofNDCs(2015)primarilyoutlinedbroadpoliticalcommitments,withlimitedidentificationoffundingneeds,sourcesorimplementationmechanisms(Adolphsenetal.,2024;NewClimateInstitute,2018).Thesecondgeneration(20202021)markedprogress,asmostNDCsincludedemissionreductiontargetsandnearlyhalfprovidedestimatesoffinancialneeds.However,theinformationremainedtoogeneraltoguideinvestmentdecisions(UNFCCC,2022;2023a).Currentthird-generationNDCsareencouragedtogofurthernotbyservingasinvestmentplansthemselves,butbyoutliningimplementationpathwaysandfinancingframeworksthatcanbereadilyoperationalizedbygovernments,investorsandfinanciers(Adolphsenetal.,2024).

Tosupportthisevolution,severalglobalfacilitiesassistdevelopingcountriesinenhancingtheinvestment-readinessoftheirNDCs,includingtheGCFthroughitsReadinessandPreparatorySupportProgramme.2WhileNDCsarenotfinancialinstruments,theycanserveasaframeworkformobilizinginvestmentbyincludinginformationthatsignalsinvestmentopportunitiestobusiness,buildsinvestorconfidenceandarticulatepathwaysandprioritiesinwaysthatfacilitatetheirtranslationintoconcreteinvestmentandfinancingstrategiesandinstruments(UNCTAD,2023).

UNCTADsmappingof168activeNDCs3,acrossallgenerations,showsthatwhilementionsofinvestmentarewidespread(90percentofNDCs),only67percentmentionprivateinvestmentandjust25percentrefertoFDI.Amongthese,36NDCsidentifiedtoolstoattractFDI,18specifyprioritysectorsforFDIattraction,andjustonesetsaconcretequantitativeFDI-relatedtarget(figure1).

Figure1

FDIintegrationintheNDCs

168activeNDCsmapped

112countriesaddressprivateinvestmentintheirNDCs

42countriesrefertoFDIintheir

NDC

36countriesmentiontoolstoattractFDI

18countries

mentionFDI

sectors

1withanFDItarget

Source:UNCTAD,basedonofficialdocuments.

Note:UpdateofWorldInvestmentReport2023analysis.

2TheGCF,undertheirReadinessandpreparatorysupportprogramme,offerstechnicalandfinancialassistancethatsupportsdevelopingcountriesbuildinginstitutionalcapacitiesandframeworksnecessarytodevelopandimplementtheirNDCs:

https://www.greenclimate.fund/readiness

.

3ThemappingisbasedonactiveNDCsavailableintheUNFCCC

NDCregistry

asat2October2025

Investmentpoliciestoadvancenationalclimate

plans

2

How?

Guideline1.RecognizetheroleofFDIinachievingtheNDCs

Explicitlyacknowledgingtheroleofinternationalinvestment,includingFDI,inNDCssignalsopennesstointernationalinvestorsandcontributestobuildingconfidenceinacountry’scommitmenttoclimateobjectives.NDCsmayalsorefertothecountry’snationaldevelopmentplanandotherexistingnationalstrategiesthatincludetheroleand/orpromoteforeigninvestmentinclimate-relatedsectors,withaviewtocreatecoherenceacrosspolicyframeworks.ThedevelopmentandpublicationofaninvestmentplanorroadmaptosupportNDCimplementationcanstrengthentransparencyandimprovecoordinationacrossinstitutions.

Engagingbusinessesandinvestors,includinginternationalonesfamiliarwiththecountrycontext,duringthedraftingorrevisionprocessofNDCscanhelpensurethatinvestment-relatedprovisionsreflectmarketrealities,improveclarityforpotentialinvestors,andstrengthentheoverallinvestment-readinessoftheNDC.

Finally,includingareferenceintheNDCtothemonitoringandreportingofFDIcontributionsduringimplementationcansupporttransparencyandaccountability,whilealsofacilitatingcoordinationwithinvestmentinstitutions.

Implementationchecklist

1.1.DoestheNDCspecifytheexpectedroleofinternationalinvestment,includingFDI,inachievingnationalclimatetargets(e.g.mobilisingfinance,supportingimplementation,enablingtechnologytransfer)?

1.2.DoestheNDCrefertonationalstrategiesthatincludetheroleorpromoteforeigninvestmentinsupportingclimateobjectives?

1.3.IsthereaninvestmentplanorroadmaptosupportNDCimplementation?Ifsuchaplanorroadmapexists,isitreferencedintheNDCandisitpubliclyaccessible?

1.4.HasthegovernmentengagedwithnationalandinternationalinvestorsorinvestorassociationsinthedraftingorrevisionoftheNDCand/ortheinvestmentplanorroadmap(e.g.throughconsultations,submissionsordedicateddialogues)?

1.5.DoestheNDCsincludeareferencetohowthecontributionofFDIwillbemonitoredandreportedduringimplementation?

Investmentpoliciestoadvancenationalclimate

plans

3

Countryexperiences

CambodiabroughtinternationalprivatesectorinputdirectlyintoitsNDCdesign.Forits2025NDC,theGovernmentestablishedaparticipatoryprocessinvolving17sectoralconsultations,whichincludedtwodedicatedsessionswiththeprivatesector,thattogetherconvenedapproximately100participants.Theseconsultationsallowedthegovernmenttoidentifyadditionalavenuesforprivatesectorengagement,acknowledgingitsindispensableroleinclosingtheclimate-financegap.

Nicaragua’s2025NDCintegratesinvestmentplanningintonationalclimatestrategies.Thedocumentstatesthatmitigationmeasuresconcentrateonrenewableenergyandforestconservationandthatnationalproductivestrategiesdeveloped

underexistingpolicieswillgenerateforeigninvestmentandinternationalcooperationtoachievethesegoals.Tooperationalisethis,theNDCreferstotheindicativeGenerationExpansionPlan2021-2035,adetailedroadmapthatenvisions57projectsrequiringabout$7.42billionininvestment.Theplanisdescribedasafundamentalinstrumenttoattractnationalandinternationalinvestmentandfinancialsupportforrenewableenergyprojects.

VietNamclearlyhighlightstheimportanceoftheinternationalprivatesectorintheimplementationofitsNDC.The2022NDCstatesthatunconditionalcontributionsaremadepossiblebyresourcesincludingthe“investmentofdomesticandforeign

enterprises,”explicitlylisting“loansandfundingfromdomesticandforeignbusinesses”andcooperationbetween“domesticandforeigninvestors”askeyfinancialresources.Furthermore,itcommitstomonitoringfundsmobilizedfromenterprisesundernationallawtoensureefficientuseforclimategoals.

Source:UNCTADbasedonofficialdocuments.

Guideline2.EngagenationalinvestmentinstitutionsinNDCdesignandimplementation

Involvingministriesinchargeofinvestmentandinvestmentpromotionagencies(IPAs)inthedraftingandimplementationphasescanenhancetheintegrationoftheinvestmentdimension

intheNDCs.ClearlydefiningtheroleofIPAsinNDCimplementationhelpsalignclimatecommitmentswithinvestmentpromotionstrategiesandensuresthatNDCsreflectinvestor-relevantinformation.AcknowledgingthatIPAsmayfacecapacitygaps,definingtheirroleshouldgohandinhandwithstrengtheningtheircapacitiesforeffectiveengagementinclimate-relatedissues(seeGuideline15).

Dedicatedfocalpointsstrengthencoordinationonresourcemobilizationandstructuredcoordinationmechanismssupportregulardialogueandjointplanning,therebyimprovingoverallimplementationcapacity.

Investmentpoliciestoadvancenationalclimate

plans

4

Implementationchecklist

2.1.Areinvestment-relatedinstitutions(ministryinchargeofinvestmentand/ortheIPA)directlyinvolvedinthedraftingorreviewoftheNDC?

2.2.Hasaclimatefocalpointbeendesignatedwithinkeyinvestment-relatedinstitutions?

2.3.Istheroleofnationalinvestment-relatedinstitutionsintheimplementationoftheNDCdefined(e.g.businessenvironmentreforms,investmentpromotion,pipeline

development,advocacy)?

2.4.Areinvestment-relatedinstitutionsinvolvedinmonitoringclimate-relatedFDI?

2.5.Arethereformalcoordinationmechanismslinkingclimate-relatedandinvestment-relatedinstitutions(e.g.memorandaofunderstanding,jointworkinggroups)?

Countryexperiences

Chile'snationalIPA,InvestChile,providesanexampleofhowIPAactivitiescansupportmonitoringofNDCimplementation,despitetheabsenceofaformalmandateforFDItrackinginChile’sNDC.BysystematicallytrackingFDIinkeysectorslikerenewableenergyandgreenhydrogen,InvestChile’sreportingimplicitlymeasuresthecontributionofFDIthecountry’sclimategoals.

Rwanda’s2020NDCcontainsamonitoring,reportingandverification(MRV)frameworkthatassignsinstitutionalresponsibilitiesacrosssectors.Withinthisframework,theRwandaDevelopmentBoard(RDB),thecountry’sIPA,isdesignatedasakeyinstitutionformonitoringindicatorsintheenergysector,wastesector,industrialprocessesandproductuse,aswellascross-cuttingindicatorsoncapacitybuildingandtechnologytransfer.

Uzbekistan’s2021NDCwasdevelopedbyaninter-agencyworkinggroupthatincludedtheMinistryofInvestmentsandForeignTrade(MIFT).BeyonditsroleintheNDC’spreparation,theMIFTwasassignedanimplementationrole,beingdesignatedas“responsibleforinteractionwiththeGCFandattractinginvestmentsforNDCimplementation”,directlylinkingtheMinistrytoclimatefinanceandprojectrealization.

Source:UNCTADbasedonofficialdocumentsandgovernmentalwebsites.

Guideline3.Identifyclimate-strategicsectorsandsettargetsforFDI

Highlightingclimate-strategicsectorsforFDIattractionandsettingclearinvestment-relatedtargetsintheNDCprovidesdirectionforinvestorsandreinforcespolicycoherence.Thesesectorsandtargetsshouldbegroundedinnationaldevelopmentplansandalignedwithnationalinvestmentstrategies,thepromotionalactivitiesofIPAsandbroaderindustrialorclimatetransitionplans,includingadaptationneeds.Theyshouldalsoreflectclimateanddevelopmentprioritiesacrosskeysectorssuchasenergy,transport,tourism,theblueeconomyandagriculture.

Climate-strategicsectorsforFDImayinclude,amongothers,renewableenergy,sustainableagriculture,theblueeconomy,greenhydrogen,electricmobilityorresilientinfrastructure,dependingonthecountry’slongtermdevelopmentobjectives.ExplicitlymentioningthesesectorsintheNDCandintegratingthemintomitigationoradaptationoutcomesorsectoralpathwaysreinforcesclarityforinvestorsandimprovespolicycoherence.Linkingthemtocomparativeadvantages,suchasnaturalendowments,industrialcapacityorskilledlabour,canfurtherstrengtheninvestmentsignalling.

Investmentpoliciestoadvancenationalclimate

plans

5

Investmenttargetsmaybequantitative(e.g.,expectedcapitalinflows,numberofgreenfieldprojects),qualitative(e.g.,investortypes,preferredsectorsortechnologies)orindicativeofinvestmentneeds(e.g.,financinggapstobefilledbyinternationalprivatecapital).Ideally,targetsshouldbetime-bound,inlinewithNDCimplementationtimelines.IftheNDCdoesnotincludespecificFDItargets,itcanstillplayavaluablecoordinationrolebyreferencingotherrelevantpolicydocumentsthatdoso.

Implementationchecklist

3.1.Haveclimate-strategicsectorsforFDIbeenidentifiedintheNDC?

3.2.Arethesesectorsexplicitlyidentifiedandintegratedintomitigationoradaptationoutcomesorsectoralpathways?

3.3.Aretheyalignedwithnationaldevelopmentplans,sectoralstrategiesandcomparativeadvantages?

3.4.ArequantitativeorqualitativetargetsforFDIinclimatesectorsincludedintheNDCorinarelevantdocumentreferencedinit?

3.5.Arethetargetsconsistentwithnationaldevelopmentplans,relevantsectoralstrategiesandNDCimplementationperiods?

Countryexperiences

Barbados’2025NDCdoesnotsetanFDI-inflowstargetbutreferencestwocompanionstrategies:Barbados2035:APlanforInvestmentinProsperityandResilienceandtheEnergyTransitionandInvestmentPlan(ETIP).Fromthesetwoplans,theNDCreproducesaheadlinetargetof$11.6billionininvestmentneedsby2035,ofwhichover$6.6billionisanopportunityforprivateinvestors.TheETIPaddsdepthbyoutliningsectoralpipelinesandcapitalstacks,quantifyingabout$9.5billionthrough2040,andcallingforinternationalclean-energyinvestment.Byliftingandreferencingthesefigures,theNDCsignalsconcreteprivate-capitalopportunitieswhilemaintainingalignmentwithnationalinvestmentplanningframeworks.

CaboVerdeTradeInvesthighlightedrenewableenergyandtheblueeconomyasprioritysectorsforinvestmentandthecountryalsoincorporatedthemintheNDC,whichembedstheminclimatepathwaysunderAmbição2030.TheNDCincludesconcretecommitments,suchasdevelopingapumpedstorageplantby2026andpilotingwaveenergyby2027.Italsooutlinesenablingmeasures,includingmarinespatialplanninglegislation,innovativefinancingtoolssuchasbluefundsandregularengagementwithinternationalinvestors.

Nepal’s2025NDCstatesthatthecountrywill“leverageconcessionalloans,foreigndirectinvestmentandequityinproductivesectors.”TheNDCreferstoitsnaturalendowments,includingsnow-coveredmountainsthatprovideimportantenvironmentalservicesfortheregion,andsetsenergytargetsthatincludeminiandmicrohydropoweralongsideotherrenewablesources.

Kazakhstan’s2023NDCsetsaclearquantitativegoal:toattractatleast$150billioninFDIby2029aspartofdeliveringits2030climatetargets.Thedocumentalsomakesitsmoreambitious25percentGHGreductionpledgeconditionalon“significantadditionalinternationalinvestments”.ThistargetisanchoredinnationalframeworkssuchastheConceptofInvestmentPolicyto2026,whichprioritizesgreengrowthandgreenfinance,andisconsistentwithlong-termstrategiesincludingStrategy2050andthecarbonneutralitystrategyfor2060.BysituatingtheFDIgoalwithintheNDCimplementationperiod(2021–2030),Kazakhstanensurescoherencebetweenclimateambition,investmentmobilizationandnationaldevelopmentplanning.

Source:UNCTADbasedonofficialdocumentsandgovernmentalwebsites.

Investmentpoliciestoadvancenationalclimate

plans

6

Guideline4.Clarifyinvestmentpathwaysandsupportmechanisms

Beyondidentifyingprioritysectorsandsettingtargets,NDCsshouldsetoutorrefertofinancialstrategiesorinvestmentroadmapsthatexplainhowforeigninvestorscanparticipateandwhatsupportinstrumentsareavailable.Insomecases,theseelementsmaybecontaineddirectlyintheNDCitself,whileinotherstheymaybepresentedthroughanaccompanyingNDCinvestmentplan,aclimateroadmaporcomplementarypolicyorlegalframeworks.Inparti