The National Bank of Kyrgyzstan has approved a roadmap for the development of sustainable finance and the implementation of ESG principles in the banking sector. The document was adopted on December 20, 2024 by the Supervisory Committee of the National Bank and posted on the official website of the bank.
The roadmap covers the medium term (2024-2026) and includes strategic directions and specific activities.
This document is aimed at creating a favorable ecosystem for sustainable finance, facilitating the country’s transition to a green economy and achieving the UN Sustainable Development Goals.
The main objectives of the document are:
- Creating a favorable ecosystem for sustainable finance;
- Improving the regulatory framework;
- Introduction of new tools to stimulate market mechanisms;
- Assessing and managing climate risks;
- Raising awareness and capacity of all stakeholders.
The roadmap was developed taking into account global trends, best international practices and the specifics of the national economy.
It is aimed at developing a green economy, implementing sustainable development goals and increasing the competitiveness of the country’s banking sector.
Particular attention is paid to the development of the market of green financial instruments, such as green bonds and loans, as well as raising awareness of the population and businesses about ESG principles.
The document provides for educational programs for banking sector specialists and information campaigns for a wide audience.
The National Bank, together with commercial banks, microfinance organizations and international partners, plans to consistently implement ESG principles in the financial system of Kyrgyzstan.
The document emphasizes the importance of sustainable financing for the country’s economic growth and the achievement of the sustainable development goals outlined in the Paris Agreement and the UN Agenda 2030.
The document provides for three stages of implementation, including the formation of a working group, development of a market for green financial instruments and increased transparency in ESG risk management.
Implementation of the roadmap will strengthen the sustainability of the financial sector and attract investment for long-term economic growth.
ESG is an approach to doing business that includes three key aspects: ecology (E), social responsibility (S) and corporate governance (G). It is aimed at the sustainable development of companies, ensuring a balance between financial profit, care for people and preserving the environment.
