AIFC GFC participated in the first meeting of the working group on the preparation of opinions on the draft of the Environmental Code of Kazakhstan

On March 12, 2020, the Majilis of the Parliament of Kazakhstan hosted the first meeting of the Working group on the preparation of opinions regarding the draft Environmental Code and Law on amendments to some legislative acts on environmental issues, which was attended by member of the AIFC Academic Council B.Abdyrayim and AIFC Green Finance Center representatives. 

In the context of Kazakhstan’s transition to a green economy, AIFC came forward earlier with a number of legislative initiatives to promote green finance, in particular, incentivizing businesses to use green finance instruments, such as “green loans”, “green bonds”, etc. To harmonize the conceptual framework at the legislative level AIFC proposed a number of amendments to the new Environmental Code regarding the inclusion of definitions of green finance, green projects, taxonomy, green bonds and green loans.

The next meeting of the WG is scheduled for March 17, 2020.