The AIFC Green Finance Centre took part in the 12th Mining and Geological Forum MINEX Kazakhstan 2022.
Assel Nurakhmetova, Deputy CEO of the GFC, spoke at the session, during which trends and prospects of ESG financing in the mining industry were discussed.
During the session, A. Nurakhmetova focused on the main aspects of the development of sustainable financing in the mining industry, in particular, green and transitional finance, approved measures of state support for green bonds and loans for business entities, the taxonomy of green projects, as well as ESG financing for junior geological prospecting companies, taking into account the goals of decarbonization.
In her speech, A. Nurakhmetova also noted the role of the GFC in the availability of case projects financed through green bonds and green loans in the overall increase in the ESG rating of the company, the prospects for issuing "bonds related to sustainable development."
The Deputy CEO of the GFC also spoke about the work carried out by the Green Finance Centre to expand the range of financial instruments in the field of sustainable development, which make it possible to demonstrate the commitment of mining and metallurgical companies to the sustainable development goals. The services offered by the subsidiaries, such as Green Technology Hub in the field of environmental techno-audit and the Eurasian Environmental Fund in the field of creating industrial oases were also presented.
Assel Nurakhmetova noted the possibilities of a junior segment for the mining industry opened on the AIFC Exchange (AIX), in which companies can list taking into account the specifics of the industry and more lenient requirements.
The MINEX Kazakhstan Forum is an annual event, one of the most important industry events in the Central Asian region, where key trends, projects and technologies in the mining and geological industry in Kazakhstan and in more than 20 countries of the near and far abroad are discussed.
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.
www.aifc.kz
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.
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