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Astana, Kazakhstan • 02 November, 2022 | 11:43

Kazakhstan Places 1st in Green Finance Among Eastern European, CA Nations

The Global Green Finance Index evaluates 84 financial centers around the world

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Khongtham / Shutterstock
Khongtham / Shutterstock

In the published 10th edition of the Global Green Finance Index (GGFI), Kazakhstan, represented by the Astana International Financial Centre (AIFC), took first place among the countries of Eastern Europe and Central Asia for the fifth year in a row, QazMonitor reports citing the AIFC.

GGFI 10 evaluates 84 financial centers around the world, combining assessments of the depth and quality of green financing in these centers from financial specialists with quantitative data that form instrumental factors.

GGFI is an assessment index based on a number of instrumental factors - quantitative indicators and a worldwide survey of financial professionals' assessments of the quality and depth of green financing offers in financial centers. GGFI serves as an indicator of the development of green finance for policy and investment decision-makers.

The AIFC Green Finance Centre (GFC) has been established in Kazakhstan for the development of green finance, which is engaged in the introduction and development of sustainable financing tools and attracting investments in environmental and social projects in Kazakhstan and Central Asia. GFC introduced the definitions of green finance and green taxonomy (a classifier of economic activities and projects that meet technical selection criteria) into national environmental legislation.

In the overall GGFI rating, Kazakhstan ranks 54th in the world.

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