AIFC Green Finance Center Ltd. and CREON Capital S.a.r.l. signed a memorandum of understanding and partnership to strengthen cooperation in the field of carbon capture, storage, and utilization (CCUS). The document was signed by AIFC’s Business Development Director Manas Gijduaniev and CREON Capital’s Development Director Florian Willershausen. The event took place in Moscow on 28 September as part of the CCUS 2021 conference organized by Creon Energy.
Creon Capital will support Kazakhstan in its efforts to fulfill the obligations to reduce greenhouse gas emissions, taken by the republic under the Paris Agreement. The parties will also jointly explore opportunities for the implementation of projects and CCUS technologies and will exchange experience in this area. Kazakhstan will be able to count on assistance on issuing green financial products in Luxembourg to finance environmental projects, as well as co-Investments.
CREON Capital operates the Luxembourg-based Creon Energy Fund, a private equity fund that invests in promising energy and ESG-compliant industrial projects as well as green tech.
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The Astana International Financial Centre (AIFC) 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 Management council of the AIFC during the council’s meeting on July 2, 2020 approved the Centre’s development strategy until 2025. 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 strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.”
For more information about the AIFC, follow the link www.aifc.kz
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).
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