Green finance is one of 6 key priorities — along with best legal system, regulatory regime, AIFC exchange, Sovereign Wealth fund and best environment — and one of 5 core pillars defined at the AIFC Development strategy was approved in May 2016.
As it is stated in the AIFC Strategy, considerable attention must be paid to supporting a sustainable economic growth and the development of green finance on AIFC platform. Sustainable economic growth implies a growth of economy taking into account the environmental and social components. Environmental component is very important for the development of Kazakhstan, whose economy depends on mining, a traditional energy source. Technologies of renewable power generation will be the main theme of the EXPO-2017. On the AIFC platform, using unique infrastructure of EXPO-2017, a separate attention shall be paid to supporting the technologies of renewable power generation; the AIFC shall become a platform for investments in environmental projects. AIFC shall be open for implementation of green financing programs, particularly, issuance of green bonds.
During the 29th Plenary session of the Foreign Investors’ Council chaired by the President of the Republic of Kazakhstan, held on May 27, 2016 Nursultan Nazarbayev instructed the AIFC to consider the creation and development of green financial system on the AIFC basis as an essential component of improving the competitiveness of the AIFC.
See the full version of the AIFC Strategy