Scaling the experience and support tools of the AIFC Green Finance Centre for the EAEU countries
On November 12, 2021, the AIFC Green Finance Centre, with the support of the Eurasian Economic Commission, held a webinar on the topic “Sustainable financing instruments to support the transition of the EAEU countries to “green economy”.
CEO of the AIFC Green Finance Centre Aidar Kazybayev moderated the webinar and emphasized that attracting investments and using financial instruments play a key role in reducing greenhouse gas emissions and achieving carbon neutrality.
Welcoming remarks were made by Andrei Slepnev, Member of the Board (Minister) for Trade of the EEC, and Kairat Aitekenov, First Deputy Chairman of the Management Board of the AIFC Authority.
The webinar was attended by representatives of international organizations and development banks, such as FC4S, the Green Investment Principles for the Belt and Road Initiative, the EDB, representatives of the EAEU member states, as well as Kazakhstani institutions involved in the development of the climate agenda.
Speakers shared their experience on developing roadmaps for the development of sustainable financing, issuing green and social bonds, introducing emissions trading system, and discussed key green financing instruments, taxonomy for green projects, international initiatives in this area, as well as ways to develop further cooperation between the EAEU countries on the development of a “green economy”.
The webinar recording will be available at https://youtu.be/V4m07x7w578
The AIFC Green Finance Center is interested in organizing training webinars for the public and will continue its work to raise awareness in the field of green finance.
Reference:
The Astana International Financial Centre 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 Centre’s development strategy until 2025 was approved by the Management council of the AIFC during the council’s meeting on July 2, 2020. 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 to assist 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 sustainable development of the AIFC include the development of a circular economy, financial technologies and a “digital financial centre”.
The AIFC Green Finance Centre is a subsidiary organisation of the AIFC Authority and the Eurasian Development Bank, aimed at introduction and development of sustainable finance instruments and attracting of investments in environmental and social projects in Kazakhstan and Central Asia.
The AIFC Green Finance Centre supported the very first issuance of green bonds and first verified green loan in Kazakhstan. Also, the Centre introduced definitions of green finance and green taxonomy (a classifier of economic activities and projects that meet technical selection criteria) in the national environmental legislation. The new legislation provides incentives for entrepreneurs who use green finance instruments.
