A Sustainable Asset Valuation of Sustainable Infrastructure in Kazakhstan

This executive summary presents a Sustainable Asset Valuation (SAVi) for transport and building infrastructure along the Shymkent–Tashkent–Khujand economic corridor. The assessment compares traditional financial metrics with a sustainable benefit-cost ratio (S-BCR) to demonstrate the socioeconomic value of expanding electrified rail and sustainable buildings over conventional options.

• The sustainable infrastructure scenario, which includes railway expansion and sustainable buildings, is projected to generate a cumulative discounted net benefit of KZT 2,424 billion (USD 5,259 million) over a 28-year period from 2022 to 2050. The total projected discounted investment costs for these projects are KZT 321 billion (USD 698 million).
• The project's value varies significantly depending on the valuation method used. A traditional benefit-cost ratio (BCR) considering only tangible impacts is 0.82 per USD invested, which would typically be viewed as not investment-worthy. However, the sustainable benefit-cost ratio (S-BCR), which incorporates societal, economic, and environmental benefits, is 8.53.
• The most significant economic driver in the sustainable scenario is the value added from freight trade, totaling a cumulative discounted benefit of KZT 2,452 billion (USD 5,319 million). This calculation assumes a 60% shift from road to rail transport and identifies uranium as the most valuable good transported, valued at USD 110/kg with a 5% profit margin.
• The assessment recommends expanding electrified railway and constructing sustainable buildings to reduce emissions and costs. Solar power is identified as more cost-effective than fossil fuels, with solar power costs ranging from USD 24 to USD 96 per MWh compared to USD 39 to USD 101 for gas. If the project used coal instead of renewable energy, it would result in cumulative additional CO2 emissions of USD 6.7 million (based on a shadow price of USD 31 per ton).

APA

International Institute for Sustainable Development (n.d.). A Sustainable Asset Valuation of Sustainable Infrastructure in Kazakhstan. https://www.iisd.org/system/files/2024-04/savi-shymkent-tashkent-khujand-economic-corridor-summary.pdf

Chicago

International Institute for Sustainable Development. A Sustainable Asset Valuation of Sustainable Infrastructure in Kazakhstan. n.d. https://www.iisd.org/system/files/2024-04/savi-shymkent-tashkent-khujand-economic-corridor-summary.pdf.

Wikipedia

{{cite report |author=International Institute for Sustainable Development |title=A Sustainable Asset Valuation of Sustainable Infrastructure in Kazakhstan |url=https://www.iisd.org/system/files/2024-04/savi-shymkent-tashkent-khujand-economic-corridor-summary.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{internationalinstituteforsustainabledevelopmentndsustainable, author = {{International Institute for Sustainable Development}}, title = {{A Sustainable Asset Valuation of Sustainable Infrastructure in Kazakhstan}}, institution = {International Institute for Sustainable Development}, url = {https://www.iisd.org/system/files/2024-04/savi-shymkent-tashkent-khujand-economic-corridor-summary.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }