The “Classification (taxonomy) of “green” projects subject to financing through “green” bonds and “green” loans” (as approved by Decree of the Government of the Republic of Kazakhstan No. 996 dated December 31, 2021) is a unified system of classification of economic activities, project categories, and assets aimed at increasing the efficiency of use of existing natural resources, lowering the level of negative environmental impacts, increasing energy efficiency, energy savings, climate change mitigation, and climate change adaptation.
According to the AIFC's (Astana International Finance Centre) Green Finance Centre (https://aifc.kz/wp-content/uploads/2024/05/green-finance-market-kz-10-m-2023.pdf), adoption of this Taxonomy contributed to market players’ rising interest in sustainable financial instruments as well as in projects on the transition of the country’s economy to low-carbon development.
This Taxonomy (updated on 27 March 2024) covers eight project categories:
- Renewable energy;
- Energy efficiency;
- Green buildings;
- Pollution prevention and control;
- Sustainable water use and waste;
- Sustainable agriculture, land management, forestry, biodiversity conservation and ecotourism;
- Clean transport; and
- Transitory energy (additional category).
