QAZAQ GREEN. The second annual Astana ESG Forum 2026, “From Recommendations to Action: Assessing Progress on Kazakhstan’s ESG Agenda,” took place in Astana. Representatives of government agencies, business, international organizations and the expert community discussed how ESG principles help attract investment and strengthen economic competitiveness.

The forum was organized by the Qazaq Green Renewable Energy Sources Association and the International Finance Corporation (IFC). Ainur Sospanova, Chair of the Board of the Qazaq Green RES Association, said the forum’s outcomes would be shaped into recommendations for the Government and state agencies.

“What matters today are practical results, practical cases and the government support that will allow these cases to materialize. We believe this annual forum will help move ESG in Kazakhstan from words to concrete action,” Ainur Sospanova said.

Presidential Advisor Magzum Mirzagaliyev stressed that today’s climate agenda affects international trade, investment, energy, industry and agriculture, and that ESG principles have become one of the key tools for its implementation.

“Our country’s approach to this issue is as balanced as possible. Kazakhstan has set ambitious energy goals while maintaining economic growth, energy security and environmental responsibility,” he said.

According to Mirzagaliyev, the initial target was for renewables to reach 5% of the electricity mix by 2025, yet their share now stands at around 8%. Kazakhstan aims to raise the share of renewable energy to 15% by 2030 and to 50% by 2050.

Sungat Yessimkhanov, a member of the Kurultai, highlighted the growth of the renewable energy sector.

“Renewable energy must continue to be developed. By the end of 2026, I believe it will be at least 8.5%. Renewable generation has grown by 30% compared to last year. This is no longer an industry that needs to be pampered and carried in our arms. It is a major segment, and this market must now take on its own responsibility and deliver on its own objectives,” he said.

UNDP Resident Representative in Kazakhstan Katarzyna Wawiernia noted that ESG considerations are no longer merely voluntary corporate commitments, as they increasingly influence asset values, productivity, risk management and access to international markets. She said that in 2025, with financial support from the European Union, UNDP helped Kazakhstan’s Ministry of Finance develop the National Sustainability Disclosure Roadmap for the phased introduction of the IFRS S1 and S2 standards.

“The success of ESG should not be measured by the number of sustainability reports produced, but by the quality of the decisions they inform, the investments they help mobilize and the tangible development results they deliver,” Katarzyna Wawiernia emphasized.

IFC Country Manager for Kazakhstan Ekaterina Benjamin pointed out that investors today assess projects not only on commercial and financial risks, but also on environmental and social factors, the quality of corporate governance and transparency.

“ESG should be seen not merely as a set of requirements or formal reporting. It is an important element of business quality, risk management and investment attractiveness,” she said.

Kanat Sharlapayev, Chairman of the Presidium of the Atameken National Chamber of Entrepreneurs, recalled that in his Address of 28 October, the Head of State instructed the Government to adopt a comprehensive plan for the development of mid-sized businesses, including mechanisms for long-term financing, technological modernization and cooperation with large enterprises. He noted that for businesses, a sustainable model aligned with ESG principles is a matter of competitiveness for many years to come.

“What we are talking about now is that the country must begin to rely on domestic investors. A class of domestic investors has already emerged, and they have enough expertise and financial capacity to provide an additional investment boost,” Kanat Sharlapayev said.

He said environmental modernization creates demand for construction materials, equipment and engineering services, opening up opportunities for Kazakh manufacturers. As an example, he cited a company in Aktobe that produces eco-friendly insulation from sheep’s wool, which has attracted the interest of Belgian investors.

Anar Makasheva, President of the Kazakhstan Automotive Union and Managing Director of Astana Motors, said investment in the automotive industry exceeded 189 billion tenge in 2024 and reached 199 billion tenge in 2025.

“For the entire automotive industry, ESG is first and foremost about trust, development and great potential. Kazakh companies are already integrated into global value chains. Countries that have made ESG commitments cooperate only with those countries and companies that also adhere to these principles,” she noted.

According to Makasheva, Kazakhstan’s vehicle fleet currently stands at 5.6 million cars, more than 44% of which are over 20 years old. She proposed that commercial banks and microfinance organizations embed ESG principles in their policies and prioritize financing for companies that comply with them.

On the sidelines of the forum, the Qazaq Green Renewable Energy Association, the Kazakhstan Electricity Association and the KAZENERGY Association signed a memorandum of cooperation.

Earlier at the forum, Minister of Ecology and Natural Resources Alibek Kuantyrov said that Kazakhstan’s investment needs for low-carbon technologies through 2060 amount to around $610 billion.

“Effectively advancing the ESG agenda requires predictable regulation from the state and responsible technology investment from business,” the minister noted.