Representatives of Development Bank of Kazakhstan JSC took part in the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), which is being held in Dubai (UAE) with November 30 to December 12 this year. One of the central themes of the international event with the participation of world leaders was sustainable financing to support emissions reduction and energy transition.
Acting Chairman of the Board of DBK Marat Yelibayev spoke at the session «Attracting investments for a sustainable energy transition». In his report, he noted that the Bank’s activities are in line with the initiatives and basic principles of the COP28 conference.
«DBK is actively involved in promoting a sustainable energy transition. We set ourselves the task of reducing the carbon footprint in the Bank’s loan portfolio, investing in projects in the field of «green» energy, and paying special attention to improving corporate governance», noted Marat Yelibayev.
The Bank is already introducing ESG principles into its decision-making processes and daily work and has identified the main areas that correspond to these principles. These include investing in sustainable development and reducing carbon emissions, improving energy efficiency and waste management, supporting socially significant projects, providing high-quality and transparent information, and ensuring high standards of corporate governance.
As part of this work, DBK has already developed Criteria for assessing applicants for investment projects for compliance with ESG principles. In the environmental aspect, emphasis will be placed on disclosing information on greenhouse gas emissions and plans to reduce them, in the social aspect - preventing accidents at work, ensuring the safety of workers, taking care of their social protection and creating jobs.
In corporate governance, criteria include providing information about risk management and internal control systems, as well as effective interaction with stakeholders. Attention will also be paid to promoting women to leadership positions.
Marat Yelibayev also spoke about the Bank’s lending to environmentally friendly projects in the areas of renewable energy and energy efficiency.
«We are financing renewable energy projects in various sectors, including wind, solar and hydropower, with a total capacity of 560 Megawatts», the speaker noted.
As a reminder, COP28 is a conference that aims to solve the climate crisis by agreeing on ways to limit temperature rise to 1.5°C and achieve net-zero emissions by 2050. Heads of state, business leaders, climate scientists, journalists and experts of various levels take part in its work.
