AIFC Green Finance Centre hosted the session dedicated to the “Green Investment Principles for the Belt and Road” within the framework of “2021 World Investor Week”
On October 6th AIFC Green Finance Centre (hereinafter – AIFC GFC) hosted the virtual session dedicated to the “Green Investment Principles for the Belt and Road” (hereinafter – Principles, GIP) within the framework of the “2021 World Investor Week”. The discussion was centered around 4 working groups established under the Secretariat of GIP which work on environmental disclosure, climate risk assessment tools, green finance products innovation and tools for green project holders.
AIFC GFC has been working closely with Beijing IFS almost since the establishment in order to ensure the best practices of green financing are applied for policies in Kazakhstan. This year AIFC GFC became the regional office of the Principles in Central Asia.
Yaseen Anwar, Chair of the Regional chapter of GIP in Central Asia, highlighted the importance of successful regional integration through government policies in conjunction with the Principles: “In order for effective implementation, it is imperative to align the entire financial system with sustainable development, involving the national financial regulators and all market participants. In fact, GIP can be instrumental in supporting the financial sector transition to a greener path.”
Qian Wu, Partner from PwC China, explained the mechanism behind the Climate and Environment Risk Assessment Toolbox and Darrenth Hawken from Refinitv covered the sustainable investment database – the new tool available for signatories of GIP and parties looking for investors.
Carmen Tsang from Credit Agricole noted: “With carbon being the center of disclosure, we aim to provide information to help signatories to define and calculate emissions.”
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The Astana International Financial Centre (AIFC) 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 Management council of the AIFC during the council’s meeting on July 2, 2020 approved the Centre’s development strategy until 2025. 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 strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.”
For more information about the AIFC, follow the link www.aifc.kz
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).
