The international rating agency Sustainable Fitch has affirmed the rating of Industrial Development Fund JSC at level “2” and upgraded its overall score from 63 to 66. This high assessment reflects the Fund’s significant investments in environmentally and socially important projects while maintaining areas for improvement — in environmental disclosure and the establishment of target indicators.
As noted in the Sustainable Fitch report, Industrial Development Fund JSC is a state-owned Fund of Kazakhstan aimed at supporting industrial development through long-term lease financing and lending in priority sectors of the economy.
A significant portion of the Fund’s leasing and lending portfolio continues to be directed toward “green” projects such as environmentally friendly transport and renewable energy sources, as well as social projects, primarily SME financing. This aligns with Kazakhstan’s industrial and sustainable development goals, as well as the Fund’s 2024-2033 development strategy. In the project evaluation process, the Fund applies an ESG risk assessment methodology.
— One of the core priorities of the corporate policy of Industrial Development Fund JSC is the financial support of environmentally friendly industries and resource-saving projects. To date, the Fund’s portfolio includes a number of implemented projects designed to make a substantial contribution to the preservation and strengthening of environmental balance. Undoubtedly, the affirmation of the ESG rating and the increase in the overall score of Industrial Development Fund JSC by the international agency Sustainable Fitch is of great importance for us in the development of green technologies and serves as an additional incentive for the comprehensive implementation of the Fund’s ESG agenda, noted Deputy Chairman of the Management Board of Industrial Development Fund JSC, Zhanar Ibrasheva.
