A seminar on the development of a taxonomy of green projects for the Republic of Kazakhstan was held at the site of the Astana International Financial Center (AIFC).
Aidar Kazybaev, Managing Director of AIFC Authority, representatives of the Ministry of National Economy, Energy, National Bank of Kazakhstan, as well as a group of international experts led by Dr. Ma Jun took part in the event. He is a developer of China's green finance system, a special advisor to the Governor of the People’s Bank of China, and also the Chairman of the China Green Finance Committee. Dr. Ma Jun is also a participant in the development of a taxonomy for green projects for China and Mongolia. 
The purpose of this workshop is to develop a detailed taxonomy of green projects for the Republic of Kazakhstan for green bank financing and insurance (considering local specifics).
“Green taxonomy is the basis for the development of green financing, because it is a unified system of classification of types of economic activity and categories of projects that are sustainable and green. The detailed classification will become common and understandable language for all participants of the financial system, as it meets the requirements of investors to determine the essence of the project, developers according to the degree of greenness, as well as financial regulators to define and stimulate green financial flows,” said Aydar Kazybayev.
“To create an efficient market for green finance, including green banking and green bonds, an ecosystem consisting of a green taxonomy, information disclosure, financial products and incentives must exist. Kazakhstan has already developed an impressive roadmap for green and sustainable finance. My team in the Green Finance Committee of China and Tsinghua University are ready to assist our colleagues in Kazakhstan, especially in the field of green taxonomy and its application,” said Ma Jun.
Also, within the framework of the seminar, bilateral meetings of experts with representatives of state bodies of the Republic of Kazakhstan were held, during which they discussed issues of evaluation and understanding of current achievements in terms of the classification of green projects in the country.
It is worth noting that the AIFC Exchange had previously adopted the Rules for issuing green bonds. These Rules define categories of green projects, compliance with which is a requirement for the issuer of green bonds upon receipt of admission to the AIFC Exchange and disclosure of information. This categorization is based on the International Green Bond Principles and the Taxonomy (Classification) of Climate Bonds, given in the Climate Bonds Initiative.