The Chairman and Deputy Chairman of the Management Board of Development Bank of Kazakhstan (a subsidiary of Baiterek Holding, hereinafter – DBK, the Bank) spoke at the Regional Environmental Summit in Astana.
As part of the Summit, DBK representatives took an active part in the business programme of key thematic sessions. In particular, Marat Yelibayev, Chairman of the Management Board of DBK, spoke at the session “From Climate Risks to Business Opportunities: A New Economy of Sustainable Development in Central Asia”, organised by the Project Office for Central Asia on Climate Change jointly with the UN Global Compact. The discussion focused on approaches to transforming climate risks into new growth opportunities for business and the financial sector.
As a development institution, DBK is implementing this important agenda through specific investment projects.
“For DBK, the environmental sustainability of projects is part of our DNA, as we are accountable to the Government, the state and society. Therefore, the Bank assesses every project in terms of environmental impact, social responsibility and sound corporate governance. As bankers, we understand that if a project meets all these standards, it carries lower environmental, social and, consequently, investment risks,” Marat Yelibayev emphasised.
At a round table organised by the Green Climate Fund, participants discussed investment opportunities in climate finance, expanding access to green capital and attracting investment into sustainable projects across the region. Vladimir Lee, Deputy Chairman of the Management Board of DBK, spoke at the event.
In his remarks, he noted that successful green and sustainable projects must demonstrate a high level of institutional readiness and investment appeal.
“Another barrier is currency risk, which has been partially mitigated in renewable energy projects but remains relevant for other green projects. Companies’ revenues are largely generated in the national currency, while financing is attracted from international sources in foreign currency. To mitigate this risk, we believe that, in addition to using currency hedging instruments, blended finance can be applied in such projects,” Vladimir Lee said.
Dina Zhanadil, Managing Director of DBK, took part in the session “Sustainable Finance in Central Asia”. In her remarks, she presented the Bank’s key achievements in sustainable development, noting that DBK’s ESG rating had been upgraded to level “2” with a score of 68. The presentation highlighted the Bank’s strategic role in advancing the decarbonisation agenda. Particular attention was paid to the practical results of green finance: from the placement of Central Asia’s first sustainable bonds in international markets to the implementation of large-scale projects in industrial gasification, CHP modernisation and the development of environmentally friendly transport.
It was noted that DBK’s investment horizon is 10–15 years. Therefore, when making decisions at the Credit Committee, the Bank takes into account not only current indicators, but also climate risks and European Union regulations under the Carbon Border Adjustment Mechanism (CBAM). Following the sessions, participants agreed that sustainable development challenges can only be addressed comprehensively through coordinated action by international organisations, the financial sector, business and the state.
