Кыргызская фондовая биржа

National Forum "Kyrgyzstan on the Way to COP-28 on Climate Change: Dialogues to Develop Positions"

Medet Nazaraliev, President of the Kyrgyz Stock Exchange took part in the National Forum "Kyrgyzstan on the Way to COP-28 on Climate Change: Dialogues to Develop Positions".

The main goal of the Forum is to create a dialogue platform for coordinating positions of ministries and agencies, development partners and civil society institutions ahead of the 28th Meeting of the Conference of the Parties (COP28) on climate change.

The head of the KSE spoke in a session on "Access to Climate Finance", during which he spoke about sustainable instruments for climate finance.

"I believe that in order to develop the sustainable finance market, government support and stimulation measures can be applied, which will help to increase investor demand and companies' interest in implementing green projects. We can use the experience of neighbouring countries (Russia, Kazakhstan) that are making efforts to address environmental issues. For example, Russia has approved rules for providing subsidies to reimburse part of coupon payments on green bonds and reimburse part of the costs of green loans aimed at implementing investment projects to implement the best available technologies. In Kazakhstan, companies implementing or planning to implement green projects can count on the possibility of subsidising the coupon rate on green bonds up to 6% of the Total: value of the base rate set by the National Bank of Kazakhstan and increased by 5% on bonds," concluded M. Nazaraliev.

In his presentation, M. Nazaraliev said that such financial instruments as green bonds, sustainable development bonds and social bonds are available on the KSE trading floor. Proceeds from the placement of these types of securities can be directed to the implementation of environmental and socially important projects.