According to the recently published 11th edition of the Global Green Finance Index (GGFI), the Astana International Financial Centre (AIFC) in Kazakhstan has retained its first-place ranking among Eastern European and Central Asian countries for the fifth consecutive time.
GGFI 11 evaluates 86 financial centres worldwide by combining assessments of the depth and quality of green finance in those centers from financial professionals with quantitative data that shapes key factors used in the evaluation process.
GGFI 11 is based on 150 quantitative indicators, referred to as instrumental factors, as well as a global survey of assessments by independent financial experts from organisations such as the World Bank, The Economist Intelligence Unit, the Organization for Economic Cooperation and Development, and the United Nations. The evaluation process also takes into account the quality and depth of green finance proposals in financial centres. The GGFI serves as an important indicator of the development of green finance and is used by policy and investment decision makers.
The AIFC Green Finance Centre (hereinafter - GFC) in Kazakhstan is involved in the development of green finance by creating and implementing sustainable financing tools that attract investments in environmental and social projects across Kazakhstan and Central Asia. The GFI has played a role in shaping national environmental legislation by introducing definitions of green finance and a Green Taxonomy (a classifier of economic activities and projects that meet technical selection criteria).
Kazakhstan has improved its ranking in the overall GGFI to 52nd place in the world, moving up two spots from its previous position.
Being included in the GGFI serves as a key indicator of a financial centre's commitment to the principles of green finance and is a reflection of the trust it has earned from potential investors, independent experts, and reputable financial and analytical institutions.
