Kazakhstan: On the Way to Greening the Financial System

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Kazakhstan: On the Way to Greening the Financial System
// Russia and New States of Eurasia. 2021. No IV (LIII). P. 183-199

DOI: 10.20542/2073-4786-2021-4-183-199

Abstract

The global growth trend of “green” economy and “green” finance encompasses more and more countries, including those with emerging markets. Two largest EAEU countries, Russia and Kazakhstan, both being fossil fuels and other raw materials exporters, have increased their efforts in the “green” finance development. This is the reason of Russian interest in the analysis of Kazakhstan experience in this area. The article reveals the policy of the Republic of Kazakhstan in “greening” its financial system. Special attention is paid to the initiatives of the Green Finance Center, established by Astana International Finance Center. The key initiative here is the adoption of Kazakhstan national Green Taxonomy. The article also evaluates the cooperation projects between Green Finance Center and multilateral development banks, Eurasian Development Bank in particular, as well as  international organizations such as OECD and UNEP.


Keywords

“green” finance, Republic of Kazakhstan, Green Finance Center, international cooperation


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For citation:
Khudyakova L., Urumov T. Kazakhstan: On the Way to Greening the Financial System. Russia and New States of Eurasia, 2021, No IV (LIII), pp. 183-199. https://doi.org/10.20542/2073-4786-2021-4-183-199



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