AIFC Launches Chapter Zero Kazakhstan to Drive Clean Energy Transition

The Astana International Financial Centre (AIFC) marked a significant milestone with the official launch of Chapter Zero Kazakhstan, a global initiative aimed at spearheading the clean energy transition within the country. The initiative, part of the Global Climate Governance Initiative founded by the World Economic Forum, seeks to mobilize senior management of Kazakh companies and financial institutions to implement robust strategies for transitioning to clean energy.

Operating within the broader framework of the climate change agenda, Chapter Zero Kazakhstan endeavors to engage and educate company directors on the business implications of climate change, with a specific focus on the transition to a low-carbon economy. By ensuring that boards of directors are well-informed and equipped to make decisions aligned with the goal of achieving net-zero carbon emissions, the initiative aims to drive meaningful progress towards sustainability.

Kazakhstan joins a coalition of 72 countries where Chapter Zero operates, leveraging the AIFC’s regulatory flexibility in corporate matters and its comprehensive set of rules and regulations. These attributes positioned the AIFC as the ideal host for the initiative’s branch office in Kazakhstan.

Gulzada Shakulikova, one of the initiators of Chapter Zero Kazakhstan, emphasized the critical importance of active engagement from industry, finance, and business in climate change mitigation and adaptation. She underscored Kazakhstan’s commitment to forging a sustainable future, citing Chapter Zero as a pivotal step in this transformative journey.

The launch event also heralded the development of the Corporate Governance Program for Kazakhstan and Central Asia in collaboration with INSEAD Business School. This initiative underscores Kazakhstan’s dedication to enhancing corporate governance practices in alignment with global standards.

Green finance remains a top priority for the AIFC and its Green Finance Center, with initiatives aimed at fostering the development of the climate finance market and supporting issuers of thematic bonds. Daniyar Kelbetov, Chairman of the Green Finance Center, expressed optimism that Chapter Zero Kazakhstan would serve as a catalyst for further integrating business into the decarbonization agenda.

Kazakhstan’s commitment to carbon neutrality by 2060 underscores its proactive stance towards combating climate change. With the adoption of a comprehensive carbon neutrality strategy in February 2023, Kazakhstan reaffirmed its resolve to implement the necessary measures to achieve this ambitious objective.