The AIFC Green Finance Centre took part in the Second Eurasian Congress
The main topics of the Second Eurasian Congress were issues of increasing the role of business, business circles, public-private partnerships in unlocking the potential of Eurasian integration – deepening industrial and technical cooperation, exchange of advanced technologies and the formation of new value chains.
An important place in the agenda of the congress was given to the issues of achieving the goals of sustainable development, a green economy, the formation of digital infrastructure and support for youth entrepreneurship.
Aidar Kazybayev, the Chief Executive Officer of the AIFC Green Finance Centre, speaking at the panel session “Global ESG Agenda – Common Challenges and Opportunities for the EAEU Countries” noted the colossal leap that the EDB made this year by holding its debut issue of green and social bonds. The ESG congressional agenda was a vivid confirmation of the Bank’s intentions.
- Kazybayev presented his vision of the challenges facing the EAEU countries in the context of the new Climate Agenda, as well as the opportunities that are opening up for the Union countries upon joining efforts to overcome them.
In particular, the Head of the AIFC Green Finance Centre (hereinafter referred to as the “Centre”) noted that in order to create comfortable conditions for business, the introduction of a digital “green bond” is being considered. In addition, the Centre sets the task of reducing the cost of verification and validation services for green bonds, which is currently unreasonably high. To this end, the GFC is working on this initiative with the EDB Digital Initiatives Fund to realize opportunities for the issuance of digital green bonds which confirms the commitment of the Centre for the Promotion of Low-Carbon Development in Kazakhstan and the EAEU countries.
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In 2020 Damu Fund with the support of the United Nations Development Program (UNDP) made a successful debut placement of green bonds on the AIX exchange. In 2021, for the first time in Kazakhstan, Damu Entrepreneurship Development Fund JSC placed its debut social bonds on the Kazakhstan Stock Exchange JSC (KASE).
The panel session was also attended by Nikolay Podguzov – Chairman of the Management Board at the EDB, Andrey Slepnev – Member of the Board (Minister) in charge of Trade of the Eurasian Economic Commission (EEC), Alibek Kuantyrov – Vice Minister of National Economy of the Republic of Kazakhstan, Aydar Ryskulov – Managing Director for Economics and Finance, Member of the Management Board of Samruk Energy JSC, Renault Seligmann – Country Director for the Russian Federation, Europe and Central Asia of the World Bank, as well as in online format Ben Slay – Senior Economist Acting Deputy Regional Director for UNDP Europe and Central Asia, Alexander Shokhin – President of the Russian Union of Industrialists and Entrepreneurs (RUIE), Tatiana Zavyalova – Senior Vice President for ESG at Sberbank.
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 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 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).
EDB is an international financial institution carrying out investment activities in Eurasia. The charter capital of the EDB is $7 billion. In its activities, EDB is guided by the UN Sustainable Development Goals and ESG principles. EDB is a co-shareholder of the AIFC Green Finance Centre.
