Nurbank and the International Center for Green Technologies and Investment Projects (ICGTIP) held a working meeting to discuss strategic partnership in sustainable development, ESG, and green financing.
The main focus of the meeting was the accreditation of the bank in the Green Climate Fund (GCF), which is one of the largest international tools for supporting climate projects. The fund supports projects aimed at the development of green energy, increasing energy efficiency, and adapting to climate change. Obtaining accreditation with GCF will open up opportunities for Nurbank to attract international resources for financing projects in decarbonization, green energy, and other environmentally significant initiatives in Kazakhstan.
During the meeting, ICGTIP confirmed its readiness to act as a technical and expert partner providing support at all stages of preparation for accreditation. The center offers a full range of services: from the development of necessary documentation and project assessment by sustainable development criteria to consulting on the issuance of green bonds and connection to international climate platforms. At the end of the meeting, the parties agreed to continue joint work: to define key steps for preparation for accreditation and to start developing a plan for launching the first pilot projects in the ESG field.
"We highly value Nurbank's strategic focus on ESG and see great potential for sustainable partnership in promoting a green economy and supporting climate initiatives," noted Acting Chairman of the ICGTIP Board, Saken Kalkamanov.
"Nurbank systematically develops the ESG direction. Potential accreditation with GCF will allow us to access international resources to support green projects in Kazakhstan. Today, we are already financing initiatives related to energy efficiency, resource conservation, climate change adaptation, and reducing environmental impact. Lending to green economy projects is a priority for the bank," commented Nurbank's Chairperson of the Board, Gulnara Musataeva.
Over the past five years, Nurbank has supported projects aimed at reducing environmental risks and using renewable energy sources. As a financial operator, Nurbank participated in the construction of the Upper Talap Hydroelectric Power Station on the Koksu River in the Zhetysuis region.