The “Regional green capital market cooperation” session was held within the Astana Finance Days conference
The General Secretary of the Organization of Turkic States H.E. Baghdad Amreyev addressed the participants of the session with a welcoming speech. He noted that the initiative to develop the green capital market should bring together the positions of countries on low-carbon development and increase the competitiveness of the national economies of the member countries of the Organisation of Turkic States.
The speakers of the session, which was held in a hybrid format, were Marcell Horvath, Executive Director for International Relations of the Central Bank of Hungary; Maria Khadzhieva, Deputy Chairman of the Agency of the Republic of Kazakhstan for the regulation and development of the financial market; Anvar Abdraev, President of the Union of Banks of Kyrgyzstan.
During the session, the initiative of the AIFC Green Finance Centre to create a Regional Green Finance Council was presented. Institutions invited to the council are responsible or involved in the development of green and sustainable finance in their countries: the Agency of the Republic of Kazakhstan for the regulation and development of the financial market, the central banks of Hungary and Azerbaijan, the Ministry of Finance of the Republic of Uzbekistan, the Union of Banks of Kyrgyzstan, the Capital Markets Council of Turkey.
Support for the initiative was expressed by the speakers of the session – the Secretary General of the Organization of Turkic States, representatives of the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market, AFSA, the Central Bank of Hungary, the Union of Banks of Kyrgyzstan.
The general sponsor of the Astana Finance Days 2022 conference is Eurasian Resources Group (ERG).
Reference:
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus.
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.
