Open AccessKazakhstan: On the Way to “Greening” the Financial System
Author(s) -
L. Khudyakova,
Timur R. Urumov
Publication year - 2021
Publication title -
rossiâ i novye gosudarstva evrazii
Language(s) - English
Resource type - Journals
ISSN - 2073-4786
DOI - 10.20542/2073-4786-2021-4-183-199
Subject(s) - green economy , project finance , finance , business , greening , economy , economic policy , international trade , political science , economics , sustainable development , law
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.