AIFC Green Finance Centre held series of webinars “Current issues of the ESG Agenda in 2022”

The AIFC Green Finance Centre (hereinafter – GFC) organised series of practical webinars “Current issues of the ESG Agenda in 2022” within the framework of the event, two sessions took place on the topics of “Basics of sustainable financing, investments in the context of ESG” and “Carbon footprint of business: the impact of CBAM on Kazakhstani exports.” The speakers of the events were the experts in the field of ESG and carbon regulation, as well as GFC employees with practical experience in applying sustainable financing tools and developing legal documents in the field of standardisation of environmental and social projects in Kazakhstan.

During the first webinar, the speakers presented an analysis of the current situation in the sustainable capital market and regulation of green finance in Kazakhstan. In particular, the speakers spoke about the existing mechanisms and tools for attracting investments in green and social projects, also about the features of the Taxonomy of green projects in Kazakhstan in comparison with the taxonomies of the EU and China. In addition, the speaker of the webinar, Senior economist of the GFC, Milana Takhanova, noted that “Legislative harmonization of green finance could provide the basis for the regulation of responsible investment in Kazakhstan.”

In the next event, the speakers discussed the impact of the Carbon Border Adjustment Mechanism (CBAM) on exports from Kazakhstan to the EU and talked about how the ongoing Low Carbon Development Concept 2060 and the Green Kazakhstan National Project will help to reduce CO2 emissions in the country.

In total, the events were attended by more than 200 participants. Given the interest of the audience and the relevance of the topics of sustainable financing and ESG, the GFC plans to continue organising events of various formats on these topics.

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The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz

The AIFC Green Finance Centre is a subsidiary organisation of the AIFC Authority and the Eurasian Development Bank, aimed at introduction and development of sustainable finance instruments and attracting of investments in environmental and social projects in Kazakhstan and Central Asia.

The AIFC Green Finance Centre supported the very first issuance of green bonds and first verified green loan in Kazakhstan. Also, the Centre introduced definitions of green finance and green taxonomy (a classifier of economic activities and projects that meet technical selection criteria) in the national environmental legislation. The new legislation provides incentives for entrepreneurs who use green finance instruments www.gfc.aifc.kz