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      November 2025

      The Kazakhstan Stock Exchange (KASE) and the international consulting company KPMG Caucasus and Central Asia have signed a Memorandum of Cooperation in the field of ESG and sustainable finance. The agreement is designed to support public companies in Kazakhstan in developing sustainable finance instruments and disclosing non-financial information.

      The partnership provides for the exchange of expertise, the promotion of ESG standards among issuers, and joint initiatives aligned with leading global practices. 

      One of the key areas will be the preparation by KPMG of independent second party opinions and external reviews confirming that the issued instruments comply with international principles and standards. This will give investors confidence in the transparency and reliability of projects, while enabling issuers to strengthen market trust and expand access to responsible investors. 

      Signing the memorandum with KPMG is an important step in developing a culture of sustainable finance in Kazakhstan. We see growing investor interest in ESG instruments and aim to create conditions under which companies in Kazakhstan can not only meet international standards, but also actively participate in the development of a responsible capital market. I am confident that cooperation with such a professional partner as KPMG will help enhance transparency, trust, and the investment attractiveness of our issuers.

      Adil Mukhamedzhanov

      Chairman of the Management Board of KASE

      Adil Mukhamedzhanov
      Interest in sustainable finance is growing rapidly in Kazakhstan. Our partnership with KASE goes beyond adapting global sustainable finance frameworks — it focuses on building a systemic infrastructure for the market, from maturity ratings to methodological support for issuers. We are confident that this development will serve as a catalyst for companies and investors committed to long-term sustainability.
      Gabit Musrepov

      Partner, Consulting GRCS & ORS

      KPMG Caucasus and Central Asia

      Gabit Musrepov

      According to both parties, the agreement lays the foundation for building a more transparent and sustainable capital market infrastructure in Kazakhstan that meets global standards. 

      For reference

      The Kazakhstan Stock Exchange (KASE) is a leading stock exchange in the Central Asian region. KASE ranks second among CIS exchanges by securities trading volume and fifth among FEAS exchanges by equity market capitalization (as of 2024).

      It is a universal trading platform for corporate and government securities, bonds of international financial institutions, foreign currencies, money market operations such as repo and swap transactions, as well as derivative instruments. KASE is a member of the World Federation of Exchanges (WFE), the Federation of Euro-Asian Stock Exchanges (FEAS), and other international and national professional associations. It also participates in the United Nations Sustainable Stock Exchanges Initiative.

      KPMG is one of the world’s largest networks of professional firms providing audit, tax, legal, and advisory services. KPMG member firms employ more than 275,000 professionals in 142 countries. KPMG Caucasus and Central Asia brings together offices in Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Georgia, and Azerbaijan.