Кыргызская фондовая биржа

In Bishkek discussed ESG reports and why it is important for companies

On 11 October 2023, the Kyrgyz Stock Exchange with the support of the International Finance Corporation (IFC) organised a Practical Conference on " ESG guidance of the KSE and international experience of non-financial reporting disclosure".

ESG - environmental, social and corporate governance, relates to three central factors in measuring the sustainability and social impact of an investment in a company or business. These criterions help to better identify the future financial results of companies.

The main goal of the conference is to create a dialogue between experts, government agencies, listing companies on the importance of ESG reports disclosure and introduction of ESG principles in Kyrgyzstan: the impact of global trends, green finance tools and disclosure of non-financial reports.

The practical conference presents the Guide to Preparation of ESG Reports by KSE, expert experience in the field of non-financial report disclosure and application of international methods and standards. 

Medet Nazaraliev, President of the Kyrgyz Stock Exchange​:

«In the nearest future, the need for quality ESG reports disclosure will be very important for the future of the country's companies. To support companies in disclosing ESG reports, the Kyrgyz Stock Exchange, in cooperation with the IFC team of experts, has developed Guidance on preparing and publishing ESG reports. This type of reporting is key to both attracting sustainable finance and demonstrating responsible business behaviours. KSE intends to continue its work on its introduction and in this way make a contribution to the development of ESG disclosure system in Kyrgyzstan».

Adalyat Abdumanapova, Project Manager of IFC Environmental, Social and Management Practices Development Project in Central Asia and Turkey​:

«The introduction of the Kyrgyz Stock Exchange's ESG Disclosure Guidance is very important for the country, because it opens the way to transparency, corporate responsibility and sustainable development. Acceptance of the Guidance will allow companies and financial organisations to build a practice of open communications with the interested parties, as well as to manage risks related to the environment, social issues and corporate governance. ESG disclosure demonstrates compliance and responsible business practices, which attracts responsible investors, strengthens customer confidence and contributes to the sustainable development of the organisation itself, as well as promoting sustainable finance practices and compliance with the country's sustainable development commitments».

The event was visited by representatives of government agencies, international organisations, associations and business community, listing companies of the Kyrgyz Stock Exchange, and mass media.

The sustainable development is spreading into all spheres of activity and interests of almost every subject in Kyrgyzstan, including open and listing companies. The ambition for sustainability will only increase as the green economy develops and companies become more interested in raising sustainable finance, which will require transparent and responsible operations. In this regard, companies' compliance with environmental, social and corporate aspects through disclosure of non-financial ESG reporting will attract increasing public attention.