What is Green Finance Centre
GFC ensures the development of sustainable finance policy and financing instruments in Kazakhstan and Central Asia.
- The only company in Central Asia accredited by the International Capital Markets Association (ICMA) and the Climate Bonds Initiative.
- #1 in Eastern Europe and Central Asia according to the Global Green Finance Index.
- Represents the regional office of the Green Investment Principles for Belt and Road (GIP) in Central Asia.
Mission of the Green Finance Centre
Green Finance Centre’s (GFC) mission is to contribute to the sustainable economic development of Kazakhstan and the region, by development of enabling sustainable finance policies, fostering sustainable finance instruments and innovation, and providing world-class sustainability services.
Key Milestones of the GFC development
The AIFC Management Council determines the AIFC Development Strategy including green finance development.
2016The AIFC adopts the Green Finance Concept and Strategy.
2017Adoption of AIX Green Bonds Rules developed by the GFC
2018First GLP (Green Finance Leadership Program) co-hosted by GFC
2019Issuance of Kazakhstan’s first green bonds on the AIX with the support of the GFC
2020Adoption of the Green Taxonomy developed by the GFC
2021GFC became the regional chapter of the Green Investment Principles (GIP)in Central Asia for the Belt and Road
2021Debut green bonds issued by SME with GFC’s support as an external review provider
2023Debut issuance of green bonds certified by CBI with the support of the GFC
2023History
Establishment of the GFC
Development of the methodological base for green finance & raising awareness
Development of the GFC
Launch of the green finance market and adoption of national legislation for green finance and shift to sustainable finance
Steady progress
Expansion of coverage to Central Asia and regulation to include ESG
CHAIRMAN OF THE MANAGEMENT BOARD
MEMBER OF THE MANAGEMENT BOARD
MEMBER OF THE MANAGEMENT BOARD
ADVISOR
ADVISOR
Eurasian Development Bank
Current members of the Council include:
• Sean Kidney, Chair, CEO and co-founder of Climate Bonds Initiative
• Nikolai Podguzov, Chairman of the EDB Management Board
• Dimitri Gvindadze, Director of Climate Strategy and Delivery of EBRD
• Ma Jun, Director of Beijing Institute of Finance and Sustainability
• Michael Sheren, President and Chief Strategy Officer of MetaVerse Green Exchange.
There were 5 focus groups under this Council with the participation of representatives of industries utilized during consultations on draft documents, amendments to the acts developed by the AIFC Green Finance Centre, discussion on measures to support green projects, as well as development of new financial mechanisms for them at early stage of the market development in 2018-2022.