On March 28, the official launch of Chapter Zero Kazakhstan took place at the AIFC site as part of the Global Climate Governance Initiative, founded by the World Economic Forum. The mission of the initiative is to mobilise senior management of Kazakh companies and financial institutions for the active implementation of the energy transition strategy.
Chapter Zero Kazakhstan became the 31st branch of the Global Network, now covering 72 countries around the world. For registration of the Kazakhstan branch, the AIFC jurisdiction was chosen, which provides a number of advantages to its participants, including flexibility in regulating corporate issues, a high-quality set of rules and regulations, developed on the basis of the principles, norms and precedents of the law of England and Wales, and the standards of the world's leading financial centres.
The branch in Kazakhstan will cooperate with a number of partners, including AIFC, EBRD, McKinsey, KPMG and Nazarbayev University. AIFC participates as a partner in the Board of Trustees, as well as the Board of Directors of Chapter Zero Kazakhstan, providing strategic vision on key areas of activity, as well as expert support in the field of climate finance.
At the event dedicated to the opening of the branch in Astana, the development of a Corporate Governance Program for Kazakhstan and Central Asia together with the INSEAD business school was also announced.
Gulzada Shakulikova, one of the initiators of Chapter Zero Kazakhstan, noted: “The active and ambitious participation of industry, finance and businesses in climate change mitigation and adaption is critical. Kazakhstan is committed to achieving a sustainable future, and this initiative is an important step on this path.”
“Green finance is identified as one of the strategic directions for the development of the AIFC. We are actively working to develop the climate finance market, including supporting thematic bonds issuers through the AIFC Green Finance Centre. And we hope that this initiative will become another bridge connecting businesses with the decarbonisation agenda,” said Daniyar Kelbetov, Chairman of the Board of Directors of the AIFC Green Finance Centre.
For reference: In November 2023, the Chapter Zero Kazakhstan company was registered at the Astana International Financial Centre, operating in accordance with the CGI Charter, and has the licensing right to implement the CGI Principles in Kazakhstan. The Chapter is a key platform for bringing together business leaders, board members, government agencies, institutional investors, academics and other stakeholders, offering extensive opportunities for the exchange of best practices in the field of corporate governance and energy transition.
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