On October 2, 2024, the Sustainable Fitch International Rating Agency assigned an ESG rating of "2" with a total score of 63 to the Industrial Development Fund JSC.
This high rating given by an agency is a result of progressive environmental and social policies that the Industrial Development Fund JSC has consistently pursued.
The assignment of this ESG rating demonstrates the effectiveness of the financial institution’s corporate policy and serves as additional motivation for continuing its systematic work, in line with the approved Roadmap for the implementation of ESG principles.
- The Industrial Development Fund prioritizes financial support, including for environmentally friendly production and resource-saving projects. The Fund's portfolio includes several implemented projects based on so-called 'clean' technologies. Notable projects include the Astana Expo-2017 wind power plant, the solar power plant in Kapshagay, the comprehensive modernization of the waste sorting complex in Karaganda, and the financing of 160 electric, environmentally friendly buses in Astana and the Pavlodar region. Of course, such a high rating and the assignment of an ESG rating of "2" by Sustainable Fitch holds great significance for us in the development of green technologies and serves as additional motivation for the comprehensive implementation of the Fund’s ESG agenda", - stated Zhanar Ibrasheva, Deputy Chairperson of the Management Board of the Industrial Development Fund JSC.
Additionally, in 2024, within the framework of the Concept for Kazakhstan's Transition to a Green Economy, the Industrial Development Fund JSC, in collaboration with the Ministry of Ecology and Natural Resources of the Republic of Kazakhstan, launched a program for the recycling, sorting, and disposal of waste. This program aims to prevent the negative impact of waste on the environment. As part of the program, a pool of investment projects in waste management has been formed, and in 2024, projects worth about 70 billion tenge will be financed under this initiative.
Moreover, adhering to ESG social principles, the Industrial Development Fund JSC successfully launched its debut social bond issuance on the AIX exchange in the first half of 2024, aimed at purchasing ambulances for the Akmola and Kyzylorda regions.
