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In his message to the people dated September 1, 2023, “The Economic Course of a Fair Kazakhstan,” President Tokayev K.K. said: “The involvement of “green” finance is becoming increasingly important for leading economies. Over the past seven years, more than two and a half trillion dollars in the world have been allocated to green bonds. ESG principles have become standard practice in financial institutions over a short period of time”.
The Damu Fund, as a socially responsible organization that implements comprehensive government measures of financial support for entrepreneurship in Kazakhstan and its regions, as part of its activities, strives to actively support sustainable development initiatives, introducing best practices and improving its internal regulations and business processes.
In August 2023, the international rating agency S&P Global Corporate Sustainability Assessment assigned the Damu Fund a rating of “22”.
In 2022, the Damu Fund became one of the founders of the National ESG Club of Kazakhstan. The Damu Fund actively works with international institutions and financial organizations on raising funds to provide financial support to “green” and sustainable projects.
In September 2021, the Damu Fund carried out its debut issue of social bonds on the KASE platform in the amount of 1 billion tenge, as part of measures to support the affected sectors of the economy from COVID-19
In 2020, the Fund made its debut placement of “green” bonds on the Astana International Financial Center (AIX) stock exchange, with the support of UNDP as part of the project “Reducing the risks of investing in renewable energy sources” for 200 million tenge. The issue was carried out in accordance with the principles of the International Capital Market Association (ICMA). For which, in April 2021, the Foundation was awarded the prestigious award of the international organization Climate Bonds Initiative in the “Green Market Pioneer” category.
One of the strategic goals within the Development Strategy of the Damu Fund for 2024-2033 is to increase the level of sustainable development, and is aimed at integrating the principles of sustainable development in the long term. In achieving the goal of cost-effective and sustainable operations, the Fund follows international best practices in environmental, social and corporate governance issues (ESG factors) within the framework of projects receiving government financial support from the Damu Fund.
The result of the implementation of the strategic goal to increase the level of sustainable development should be an increase in the rating of sustainable development. A key tool for assessing the effectiveness of implementing ESG issues in a company’s activities is the sustainability rating. Moreover, such a rating is aimed at identifying the risks and opportunities of a company to determine its sustainability in the long term.
As part of the new Development Strategy of the Damu Fund for a ten-year period, the sustainable development rating is included as the main key indicator of the Fund’s activities in the field of sustainable development.
An increase in the level of assessment will be the result of the goals and objectives implemented by the Damu Fund aimed at developing social, corporate and environmental aspects and improving management practices.
We strive to ensure a high level of openness and transparency of our activities, by implementing the principle of active dialogue with stakeholders. Every year we disclose information about all significant aspects of the work of the Damu Foundation. This allows us to maintain a balance between economic, social and environmental issues. aspects of their activities.
The principles, mechanisms and procedures for interaction with stakeholders are formulated by the Code of Conduct, Sustainable Development Policy and Stakeholder Map.