The central topic of discussion during the Green Growth Forum was the draft of the Social Taxonomy for Kazakhstan. The AIFC Green Finance Centre developed and presented the draft to promote the development of the sustainable financing market.
Taxonomies of sustainable finance are an important element of the sustainable finance ecosystem, preventing social washing and attempts to camouflage responsible investment. Furthermore, unification with international standards will make it possible to recode social policy into a language understandable to the investment community. In addition, the introduction of social financing criteria will give impetus to developing Public Private Partnerships (PPPs) bonds, the debut issue of which is expected this year.
The Ministry of National Economy of the Republic of Kazakhstan and other interested state bodies and stakeholders will develop the document further and submit it to the Government for approval.
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