The 41st meeting of the Berlin Eurasian Club (BEC) on the topic “Adhering to ESG Principles in Economic Cooperation between Kazakhstan and the EU/Germany” was held, El.kz cites MFA.
The event was attended by representatives of Kazakh and European state bodies, business associations, as well as the experts, academic, business communities, and financial institutions.
In his welcoming remarks, Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Roman Vassilenko highlighted the key outcomes of the official visit of the Federal Chancellor of Germany Olaf Scholz to Astana on September 16-17 as well as Kazakhstan's experience in implementing ESG principles (environmental, social and governance).
“During the visit to Kazakhstan, Federal Chancellor of Germany Olaf Scholz and President of Kazakhstan Kassym-Jomart Tokayev highly praised the work of BEC. Due to the effectiveness of this dialogue platform, our business partnership is developing in new formats of interaction. Thus, 41 documents were signed for a total amount of 6.3 billion USD within the framework of the Kazakh-German Business Forum with the participation of President Tokayev and Chancellor Scholz,” – said Vassilenko.
The Deputy Minister also called on European partners to expand their investments in the republic, taking into account the application of sustainability principles across all sectors of the economy. He noted that “Kazakhstan is promoting a new economic paradigm aimed at creating an economy based on sustainability and environmental responsibility, implementing business obligations aligned with European and German sustainable supply chain laws, and developing a carbon credit trading system”. The strategic goal of achieving climate neutrality by 2060 was also emphasized.
Representative of the European Commission, the Directorate-General international officer for Energy Cyril Loisel, welcomed Kazakhstan's measures, particularly highlighting a large-scale project for the production of “green” hydrogen implemented by the company HYRASIA/Svevind, and Kazakhstan's accession to the Global Methane Pledge. He also underscored the prospects for developing interconnectivity between European and Central Asian electrical grids and the importance of timely implementation of projects in this area.
The hybrid-format discussion participated by Vice Minister of Ecology and Natural Resources of Kazakhstan Mansur Oshurbaev (online), Chairman of the BEC Advisory Council Peter Tils, Director for “Green” Transition at the German Eastern Business Association Jens Boelmann, Chairman of the Board of the International Center for Green Technologies and Investment Projects Didar Karimsakov, Managing Director for Products of the Astana International Financial Center Administration Daniyar Kelbetov, and others.
It was noted that one of the leading drivers of ESG principles in Kazakhstan is the financial sector. A number of regulatory acts have been adopted to stimulate and enhance transparency of ESG approaches in the activities of banking and financial institutions, including in the financing of new projects.
Participants unanimously agreed that the widespread transition to sustainable and responsible business in line with ESG principles is becoming an increasingly important factor and even a fundamental prerequisite for maintaining the competitiveness of the economy and developing international economic relations. In this sphere, further deepening of cooperation between Kazakhstan and its European partners is gaining particular importance.