BAKU, Azerbaijan, July 17
By Nargiz Sadikhova – Trend:
Kazakh Agency for Regulation and Development of the Financial Market, Kazakhstan Stock Exchange (KASE) and PwC Kazakhstan have signed a memorandum on cooperation in order to promote principles of sustainable financing, Trend reports citing the Agency.
The parties to the memorandum will unite efforts to promote sustainable financing at the Kazakh financial market, as well as in the corporate sector to finance sustainable development projects.
The Agency intends to take measures to promote the transition of financial institutions and listed companies to ESG standards by integrating them into the regulation of risk management and reporting systems. The Agency will take active steps to promote the development of the sustainable financing and sustainable development bond market in Kazakhstan.
In order to develop this sector, KASE listing rules, along with the requirements for listing "green" bonds, will be supplemented with requirements for listing sustainable development bonds. KASE will be provided with incentives for the payment of listing fees for issuers of sustainable development bonds, as well as appropriate consulting support.
PwC Kazakhstan will carry out an independent assurance of compliance with international standards for the first five issues of green bonds and five social bonds for Kazakh issuers for free.
In addition, PwC Kazakhstan will provide methodological support and advice on international practice in creating an infrastructure for financing ESG projects.
ESG investing is a term that is often used interchangeably with sustainable investing, socially responsible investing, mission-related investing, or screening.
A green bond is a fixed-income instrument designed specifically to support specific climate-related or environmental projects.
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