Astana International Exchange (AIX) has agreed to support the Green Investment Principles (GIP) related to investments and operations in the Belt and Road region. The principles have been announced during the 2nd Belt and Road Forum in Beijing on 25 April. The GIP was developed by China Green Finance Committee and the City of London in collaboration with other reputable international organizations. The GIP aims to build an international network for improving the management of environmental and social risks for investments in the Belt and Road region.
The 7 guiding principles that base the GIP, including sustainability in corporate governance; understanding of environmental, social and governance risk factors; environmental information disclosure; information sharing with stakeholders and utilization of green financial instruments, are seen as effective set of investment principles that offer possible actions to green the investment projects.
Kairat Kelimbetov, the AIFC Governor, commented:
“From its inception the AIFC has identified Green finance as one of its core pillars and focused on developing the necessary rule system, regulatory framework and products which can be favorable to promote and develop green finance in Kazakhstan and in the region. In light of growing attention to climate and environment changes around the world, the awareness and appetite for green finance investments is growing globally. Hence, the sign up to the GIP is fully aligned with AIFC core strategy and principles to become the financing hub for the Belt and Road Initiative projects which incorporates the global green investment principles.”
Tim Bennett, AIX’s CEO, stated:
“One of AIX’s objectives is to introduce capital market products to support Kazakhstan’s economy which take advantage of the opportunities arising under the Belt and Road Initiative (BRI). Signing the GIP emphasizes the regional perspective of AIX to support infrastructure and economic development in Kazakhstan and in the region in accordance with environmentally and socially friendly international practices. Also, signing up to the GIP can make AIX market more connected and integrated with the international green investment community. We are happy to be one of the first signatories to this international network.”
The number of global financial institutions that agreed to sign the GIP is growing, and currently includes major institutions from China such as China Development Bank, Import-Export Bank of China, Industrial and Commerce Bank of China, Agriculture Bank of China and Silk Road Fund Silk and international institutions such as Credit Agricole-CIB, Standard Chartered Bank, French Foreign Trade Bank, Al Hilal Bank, Hong Kong Stock Exchange and Natixis Bank. More and more major international institutions are considering signing up to the GIP.
AIX. Astana International Exchange (AIX) was formed in 2017 as part of the development of the Astana International Financial Centre, AIFC. On the 14th November 2018, the first trading session on AIX has been launched by the President of the Republic of Kazakhstan Nursultan Nazarbayev. AIX’s shareholders include AIFC, Goldman Sachs, Shanghai Stock Exchange, the Silk Road Fund and NASDAQ, which also provides AIXs trading platform. www.aix.kz
AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre for financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with the international capital markets. www.aifc.kz
The GIP was developed by China Green Finance Committee and the City of London in collaboration with the UN Principles for Responsible Investment (PRI), the IFC-supported Sustainable Banking Network, the ICBC-hosted Belt & Road Bankers Roundtable, Green Belt and Road Investors Alliance, World Economic Forum and the Paulson Institute.
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