espEconomy: strategy and practiceEconomy: strategy and practice1997-99672663-550XИнститут экономики10.51176/1997-9967-2023-4-90-108esp-1181Research ArticleУСТОЙЧИВОЕ РАЗВИТИЕ И ПРИРОДОПОЛЬЗОВАНИЕSUSTAINABLE DEVELOPMENT AND ENVIRONMENTAL MANAGEMENTАналитический обзор международного опыта развития устойчивых финансов и перспективы внедрения в КазахстанеAnalytical Review of Experience in the Development of Sustainable Finance and Prospects for Implementation in Kazakhstanhttps://orcid.org/0000-0002-7354-4506КуановаЛ. А.KuanovaL. A.

PhD, и.о. доцента

пр. аль-Фараби 71, 050040, Алматы

Laura A. Kuanova – PhD, Acting Associate Professor

71 al-Farbi ave., 050040, Almaty

kuanova.laura@kaznu.kzhttps://orcid.org/0000-0002-5150-4132СагиеваР. К.SagiyevaR. K.

д.э.н., и.о. профессора

пр. аль-Фараби 71, 050040, Алматы

Rimma K. Sagiyeva – Doc. Sc. (Econ.), Acting Professor

71 al-Farbi ave., 050040, Almaty

rimmasagiyeva@gmail.comhttps://orcid.org/0000-0001-9971-2240ЗайтеноваН. К.ZaitenovaN. K.

PhD, доцент

пр. Абая 8А, 050010, Алматы

Nazym K. Zaitenova – PhD., Associate Professor

8A Abai ave., 050010, Almaty

 

nazym_beisebaeva@mail.ruКазахский Национальный университет имени аль-ФарабиКазахстанal-Farabi Kazakh National UniversityKazakhstanУниверситет международного бизнеса имени К. СагадиеваКазахстанK. Sagadiev University of International BusinessKazakhstan20231901202418490108Copyright © Куанова Л.А., Сагиева Р.К., Зайтенова Н.К., 20242024Куанова Л.А., Сагиева Р.К., Зайтенова Н.К.Kuanova L.A., Sagiyeva R.K., Zaitenova N.K.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://esp.ieconom.kz/jour/article/view/1181

Развитие “устойчивых” финансов и финансовых инструментов, работающих в контексте реализации компаниями комплекса экологических, социальных и управленческих принципов (ESG-принципов), набирает обороты на основных мировых рынках. По данным Глобального альянса устойчивых инвестиций, на данные стратегии уже приходится 35,9% от общего объема инвестированных активов. Данный тренд обусловлен новой глобальной реальностью, поскольку долгосрочное развитие любой страны и любой компании невозможно без разрешения углубляющихся экологических и социальных противоречий. В связи с этим целью данной статьи является разработка приемлемых для практики Казахстана рекомендаций на основе обобщения современного международного опыта в развитии разнообразных инструментов устойчивых финансов, а также на основе изучения мер институциональной поддержки данного процесса на макроэкономическом уровне. Обзор опыта ряда лидирующих в сфере экологически и социально ответственного инвестирования стран демонстрирует, как общие, так и специфические черты, которые могут быть успешно имплементированы в Казахстане, находящемуся на начальном этапе данного процесса. Методология исследования основана на сравнительном анализе государственной политики, нормативно-правовой базы, а также национальной специфики моделей шести выбранных стран и регионов. Полученные результаты имеют соответствующие практическое применение с точки зрения развития устойчивых финансов и регулирования инвестиций на основе критериев ESG в Казахстане путем адаптации зарубежной практики.

The development of “sustainable” finance, that is, financial instruments operating in the context of the implementation by companies of a set of environmental, social and governance principles (ESG principles), is gaining momentum in the main world markets. According to the Global Alliance for Sustainable Investments, these strategies already account for 35.9% of the total amount of invested assets. This trend is driven by a new global reality since the long-term development of the country and the company cannot be possible without resolving deepening environmental and social contradictions. In this regard, the purpose of this article is to develop recommendations acceptable to the practice of Kazakhstan based on the generalization of contemporary international experience in the development of various instruments of sustainable finance, as well as on studying institutional support measures for this process at the macroeconomic level.A review of the experience of several countries leading in the field of environmentally and socially responsible investment demonstrates both general and specific features that can be successfully implemented in Kazakhstan, which is at the initial stage of this process. The research methodology is based on a comparative analysis of public policy, regulatory framework, and national specifics of the models of the six selected countries and regions. The obtained results have corresponding practical implications in terms of sustainable finance and ESG criteria-based investing regulation advancement in Kazakhstan by foreign practices adaptation.

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The authors declare that there are no conflicts of interest present.