The principles of green bonds and the introduction of ESG in the regulation of the financial market of Kazakhstan
The International Center for Green Technologies and Investment Projects held another webinar on the topic "Principles of green bonds and the introduction of ESG in the regulation of the financial market of Kazakhstan". As part of the webinar, the conditions for issuing bonds in Kazakhstan, the practice of using ESG at KASE, the principles of green investments and the integration of ESG practices into the company's business model, etc. were considered.
The webinar was attended by about 150 representatives from the Ministry of National Economy of the Republic of Kazakhstan, Kazakhstan Stock Exchange JSC, Damu Entrepreneurship Development Fund JSC, AIFC Green Finance Center, Atameken NPP, Industrial Development Fund JSC, Development Bank of Kazakhstan, KEGOC JSC, Polymetal Eurasia LLP, ERG Service, the Development Bank of Kazakhstan, the Kazakhstan Electric Power Association, and other enterprises.
Thus, welcoming the participants of the webinar, Nuray Satimov, Director of the Department of Green Technologies at the International Center for Green Technologies and Investment Projects, noted the key role of financial markets in ensuring the redistribution of financial flows to "green", carbon neutral and other sustainable projects.
"ESG Compliance is compliance with environmental criteria, social criteria and corporate governance criteria. At its core, ESG Compliance determines how much a company is exposed to risks in the field of environmental, social and corporate law and ethics. The result can be not only an improvement in the environment, but also an improvement in the quality of life and a more responsible attitude of people to the planet and its resources, stimulating the development of technologies," he added.
In her speech, Indira Suanbekova, Chief Specialist of the Securities Issuers Monitoring and Regulation Department of the Securities Market of the, elaborated on the possibilities of attracting financing in accordance with the principles of sustainable development in the stock market of Kazakhstan.
Viktor Litvinov, Director of the Department for Monitoring Issuers and Members of the Kazakhstan Stock Exchange, spoke about international standards of green finance and financial regulation, the chronology of the development of ESG practices at the Exchange, ESG infrastructure at KASE.
"Sustainable business development based on ESG principles is one of the main trends on the agenda of the global and financial community. The implementation of the ESG principles is aimed at facilitating the implementation of countries' commitments under the Paris Climate Agreement and achieving the UN Sustainable Development Goals," the speaker said.
Information on the principles of sustainability in the transition to a green economy was presented by MBA, Head and member of the Supervisory Board of the Association of Sustainable Development Experts, Director of the international sustainability consulting company AVgroup – Alina Sokolenko.
In her speech, she also elaborated on the five main reasons why ESG investment prospects have long-term prospects. Among them are the demand initiated by investors, the stimulation of innovations in a technological product, the energy transition, the call of companies to action, investment research, etc.
Azat Kalybay, ESG expert, Department for Services in the field of climate change and sustainable development of EY Kazakhstan, spoke about the verification of green bonds, as well as about the main standards. In his speech, special attention was paid to the external verification of green bonds.
Information on the integration of ESG practice into the company's business model was presented by the Expert of ESG Practice and Corporate Governance at PwC Kazakhstan, Nursaule Bereketova.
Following the results of the online meeting, the participants noted the real importance of the topics raised at the webinar, exchanged views, and received exhaustive answers from the speakers to their questions.