Kazakhstan’s Banks and ESG Risk: Progress Toward Global Standards

KPMG Caucasus and Central Asia is pleased to present the results of the Global ESG Risk Survey 2025, with a dedicated focus on Kazakhstan’s banking sector. The study draws on the perspectives of 111 institutions across 19 countries, including 6 leading Kazakh banks by volume of assets, providing a comparative view of how local institutions are progressing toward global ESG standards.

This report goes beyond compliance checklists. It offers a strategic perspective on how Kazakh banks are approaching regulatory change, strengthening governance, and addressing the pressing challenges of ESG risk integration. In an environment shaped by emerging legal requirements, shifting investor expectations, and the global push for sustainable finance, the survey highlights both achievements and critical execution gaps.

The objective of this research is to assess the current state of ESG risk management practices in Kazakhstan’s financial sector, benchmark them against global peers, and identify key priorities required to accelerate alignment with international standards.

Partner,
Leader of Sustainability Services
KPMG Caucasus and Central
E: gmusrepov@kpmg.kz

Director of Sustainability Services
KPMG Caucasus and Central Asia
E: akazbekov@kpmg.kz

Manager of Sustainability Services
KPMG Caucasus and Central Asia
E: rsailau@kpmg.kz