AFSA introduces Environmental, Social, and Governance (ESG) Fund
In a significant move towards fostering sustainable and responsible investment practices, AFSA has amended the AIFC Collective Investment Scheme Rules to introduce an Environmental, Social, and Governance (ESG) Fund as a new type of Specialist Fund.
This initiative reflects AFSA’s commitment to align with global best practices, meeting stakeholder expectations, and addressing the evolving landscape of responsible investing. Obtaining the status of an ESG Fund holds significant importance since it enables investors to support companies that prioritise sustainability and responsible practices and offers potential financial benefits and risk mitigation.
AFSA Chief Executive Officer Nurkhat Kushimov: “More expanded opportunities for funds in the area of ESG mean an additional path towards a decarbonised world and specifically Kazakhstan’s targets to achieve carbon neutrality. Regulations that enable this process are an important prerequisite to build the necessary groundwork for this to happen.”
Amendments to the AIFC Collective Investment Scheme Rules and consequential amendments to the AIFC Glossary are published on the AIFC website and will come into force on 1 January 2024.
Reference:
The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.
Over 2,300 firms from 78 countries are registered in the AIFC. These firms provide banking, insurance, investment, professional and other services. The range of financial services offered at the AIFC is comparable to the list of services available in long-established financial centers of the world, such as London, Hong Kong, Singapore, Dubai and others. www.afsa.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. https://aifc.kz/
Contact information:
Public Relations and Communications Division of AFSA:
+7 (717) 264 73 43; +7 7172 61-37-45 email: [email protected]
