Sustainable development

In 2018, the Sole Shareholder of the Fund approved a new Development Strategy of the Fund until 2028, defining corporate governance and sustainable development as one of the three strategic goals of the Fund for the next decade. Within the framework of this strategic goal, we plan to continue achieving a high level in the field of corporate governance and sustainable development, improve the level of corporate governance in the Fund and Portfolio Companies, increase human resources, and ensure implementation of the principles of meritocracy. The new strategy also provides for implementation of sponsorship initiatives, as well as initiatives identified by the Fund in the field of sustainable development. The Fund plans to implement measures and indicators within the framework of the Concept of the Republic of Kazakhstan for transition to the “green economy”.

Based on the results of implementation of this strategic goal, it is expected to create a management system, ensuring the achievement of improved indicators in the field of sustainable development, occupational safety, health and the environment, improving economic indicators and financial stability, combating corruption, improving the corporate governance rating and social stability rating.


target Sustainable Development Goals
target Materiality analysis
target Interaction with Stakeholders
target Sustainability initiatives

Sustainable Development Goals

The Fund supports the UN Sustainable Development Goals

On January 1, 2016, the world officially launched the implementation of the 2030 Agenda for Sustainable Development — an active transformation plan based on 17 Sustainable Development Goals - to address urgent global problems over the next fifteen years.

The 17 Sustainable Development Goals and 169 Targets (SDGs) are aimed at realizing human rights for all, they are comprehensive and indivisible and ensure a balance between the three components of sustainable development: economic, social and environmental. These goals and objectives will stimulate the actions of national governments over the coming periods in areas of great importance to humanity and the planet. We have selected nine strategically priority goals of them for the activities of the Fund Group, the achievement of which it will contribute to in the course of its core activities. Tasks contributing to the achievement of the remaining UN Sustainable Development Goals are also integrated into current activities

Хорошее здоровье
и благополучие
Достойная работа
и экономический рост
инновации и инфрастркутура
Устойчивые города
и населенные пункты
Борьба с изменением
Партнерство в интересах
устойчивого развития

Materiality analysis

In order to understand the needs of stakeholders and determine what the sustainable development of the Fund is for them, we conducted a materiality analysis

At the first stage it was proposed to identify a list of aspects of sustainable development related to the activities of the Fund and their impact.

Based on the results of the survey and discussions with all key stakeholders to identify significant aspects, we have identified 17 topics related to sustainability that are important for the Fund and our stakeholders.

Covering economic, environmental and social aspects on the path of sustainable development in all fronts, the Fund strives to provide an interactive dialogue with all stakeholders and create additional value

Economic topics:

  • Key financial indicators
  • Anti-corruption
  • Financial sustainability
  • Socially responsible procurement

Environmental topics:

  • Compliance with environmental requirements

Social topics:

  • Non-discrimination
  • Human rights
  • Social responsibility
  • Employment
  • Health and Safety in the workplace
  • Transparency and Public Relations
  • Selection and Employment
  • Remuneration and Evaluation
  • Corporate Culture
  • Interaction of Employees and Management
  • Training and Education
  • Freedom of Association and Collective Bargaining

Interaction with Stakeholders

The Fund’s interaction system with stakeholders is focused on achieving sustainable development goals and harmonizing the interests of all stakeholders. Interaction with stakeholders is based on the principles of respect for interests and cooperation.

The Fund sees its social responsibility in being a reliable partner for stakeholders. We conduct a dialogue and build relationships with stakeholders based on the principles of mutual respect and partnership, information transparency, regularity of interaction and conscientious compliance with the obligations assumed.

The Fund uses a standard stakeholder engagement process in accordance with AA1000 SES:

  • Stakeholder Identification and Analysis Stakeholder
  • Prioritization Stakeholder
  • Engagement Performance and Evaluation
  • Reporting Stakeholder Engagement
  • Planning Stakeholder Engagement


  • Accountability
  • Proper Management Functions
  • Stakeholder Engagement
  • Conflict Resolution Procedures
  • Disclosure of Information
  • Stakeholder Consultations
  • Stakeholder Identification and Analysis
  • Negotiations and partnership

Sustainability initiatives

  • Effective corporate governance and an improved risk culture are ensured by the adoption and implementation of a new Corporate Governance Code and a risk-based approach to sustainable development
  • High ethical standards and anti-corruption are ensured through implementation of the Code of Conduct and the compliance function
  • Sustainable values in the field of occupational safety and health It is ensured by the implementation of safety and security measures
  • Financial stability Is ensured in the Fund's portfolio companies implementation of the development priorities defined in the development plans
  • Responsible procurement is ensured through the introduction of a new approach to procurement, including categorical procurement management and the launch of a pre-qualification system for potential suppliers, as well as increased transparency of the procurement process
  • Good reputation and a high level of transparency Is ensured through the implementation of the Communication Plan and increased transparency and disclosure of information
  • Human development is ensured by launching a new personnel management systems with three main components: business partnership in the field of personnel management, the center of expertise in personnel management, the general personnel management service
  • Responsible investments are ensured by implementing the key principles of responsible investments in the investment policy of the Fund and the selection of sustainability indicators in the process of designing, implementing and monitoring investments
  • Environmental responsibility is ensured by compliance with environmental legislation, norms and standards in the field of environmental protection, and also by investing in the development of environmental activities of the Fund and the Fund Group