DBK at the «Sustainable Trends Kazakhstan Forum – 2024»: Implementation of ESG Initiatives

The Development Bank of Kazakhstan JSC (a subsidiary of the Baiterek Holding, hereinafter referred to as DBK or the Bank) participated in the «Sustainable Trends Kazakhstan Forum – 2024», where it showcased its experience in implementing ESG (Environmental, Social, and Governance) initiatives within the Bank and among its borrowers. The forum served as a significant platform for experts dedicated to promoting global ESG trends and decarbonization initiatives.

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DBK's Managing Director, Dina Zhanadil, detailed the Bank's efforts in sustainable development, the experience and importance of obtaining an ESG rating, the Bank's activities in green financing, and shared DBK's future plans in this area. In her speech, she emphasized that implementing ESG principles plays a crucial role in enhancing the environmental and social responsibility, as well as the corporate governance, of financial institutions.

«Last year, the Bank received its first ESG rating from Sustainable Fitch. The rating helps us not only to navigate our sustainable development strategy but also confirms our commitment to high standards of environmental and social responsibility. The Bank has developed a risk management concept for ESG and green and sustainable financing, issued debut green bonds on the KASE and AIX exchanges, and carried out the first issuance of sustainable bonds totaling 100 billion tenge. DBK continues to work on increasing the share of sustainable and green projects in its loan portfolio, including renewable energy projects», noted Dina Zhanadil.

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Currently, DBK is financing 9 projects in the field of renewable energy, including wind, solar, and hydro energy, with a total capacity of 560 megawatts. The total volume of approved and financed renewable energy projects amounts to approximately 633 million dollars. It is noteworthy that two borrowers have already fully repaid their obligations to the Bank for projects in this area.

It should be noted that DBK was one of the first financial institutions in the country to receive an ESG rating from Sustainable Fitch. The agency assessed the sustainability of DBK’s operations, assigning it an ESG rating of «3» and an overall score of 60. This achievement underscores DBK's leadership in sustainable development and its contribution to creating a more environmentally responsible economy.

Additionally, the Bank considers 14 out of the 17 UN Sustainable Development Goals in its activities. This year, the Bank joined the Green Investment Principles for the Belt and Road Initiative (GIP) and the United Nations Global Compact.

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