The AIFC Green Finance Centre intends to enter the Russian green bond issuers market
The Chief Executive Officer of the AIFC Green Finance Centre, Aidar Kazybayev, held a business meeting with the First Deputy Chairman – Member of the Board of VEB.RF, Alexey Miroshnichenko.
Having presented in detail the work of the Centre, including the development of a taxonomy according to the green finance standards, the provision of services for the verification of sustainable financing projects, A. Kazybayev made several proposals on possible prospects for cooperation.
In particular, an agreement was reached on working out the issue of mutual recognition of the verification results, as well as including the GFC in the list of verifiers of green bonds approved by VEB.RF. In the long term this opens opportunities for the Centre to carry out verification of sustainable financing projects for Russian issuers.
Great interest on the part of VEB.RF was aroused by the proposal to create an Analytical Centre for Sustainable Development for the EAEU countries together with the EDB and the Eurasian Economic Commission.
Considering the great work carried out by VEB.RF in terms of popularising green finance instruments, A. Kazybaev proposed to jointly promote and carry out work to award the AIFC Green Finance Award for Russian companies.
For further continuation of cooperation A. Miroshnichenko proposed to sign a bilateral Agreement on Strategic Partnership on ESG and Green Finance in the framework of one of the meetings of the AIFC and VEB management in early 2022.
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The Astana International Financial Centre was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program.
The Centre’s development strategy until 2025 was approved by the Management council of the AIFC during the council’s meeting on July 2, 2020.
In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe.
The mission of the AIFC is in assisting the sustainable and long-term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region”.
The AIFC Green Finance Centre is an AIFC Organisation created to enable the development of green finance in Kazakhstan and Central Asia. The main goal is to bring investments to sustainable economy through trending financial instruments, such as green and social bonds.
In addition to that, the AIFC Green Finance Centre, being a regional think-tank, provides strategic and business consulting in green finance and sustainable development to Governments, quasi-state organisations and entrepreneurs. The Centre provides initial assistance to potential issuers, investors and market players on preparations for the issuance of green bonds on the AIFC Exchange (Astana International Exchange).
VEB.RF is a national development institute that promotes the implementation of socio-economic policy, and enhances the competitiveness of the Russian economy. The main task is to contribute to the long-term economic development of Russia. In partnership with commercial banks, VEB.RF is financing large-scale projects aimed at developing infrastructure, industry, social sphere, strengthening technological potential and improving the quality of life of people.
