Sustainable development

The Fund’s Development Strategy until 2028 which defines corporate governance and sustainable development as one of the three strategic goals of the Fund for the next decade, was approved by the Sole Shareholder of the Fund in 2018. As part of this strategic goal, we are planning to continue to achieve a high level of corporate governance and sustainable development, to increase the corporate governance in the Fund and Portfolio companies, to increase human resources, and to ensure the implementation of meritocracy principles. The new strategy also provides for the implementation of sponsorship initiatives, as well as sustainable development initiatives identified by the Fund. The Fund will implement measures and indicators within the Concept of the Republic of Kazakhstan for the transition to the green economy.

Based on the results of the implementation of this strategic goal, it is expected to create a management system that ensures the achievement of improved indicators in sustainable development, labor protection, health and environment, improved economic indicators and financial stability, anti-corruption, increased corporate governance rating and social stability rating.

Strategic goal

Performance of companies

Strategic goal

Sustainable development

Strategic goal

Portfolio management

Sustainable Development Goals

The Fund supports UN Sustainable Development Goals

On January 1, 2016 the world has officially launched the 2030 Agenda for Sustainable Development - an active transformation plan based on 17 sustainable development goals - to address pressing global challenges over the next fifteen years.
17 sustainable development goals and 169 tasks (SDGs) are aimed at realizing human rights for all, they are complex and indivisible and ensure the balance of the three components of sustainable development: economic, social and environmental. These tasks and goals will stimulate the actions of national governments over the next 15 years in the areas of great importance to humanity and the planet. We have chosen nine goals of these that have strategic priority for the activities of the Fund Group, the achievement of which it will contribute to in the course of its core business. The current activities also integrate tasks that enable the achievement of the remaining UN sustainability goals. The sustainable development goals and objectives of the Fund Group are consistent with the UN selected sustainable development priorities.

Good health
and well-being

Quality education

Gender equality

Decent work and economic growth

Industry, innovation, and infrastructure


Sustainable cities and communities

Climate action



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

At the first stage, it was proposed to determine 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 identified 17 topics related to sustainability that are important for the Fund and our stakeholders.

Comprehensively covering economic, environmental and social aspects on the path of sustainable development, the Fund seeks to ensure an interactive dialogue with all interested parties and create additional value.

Economic topics:

Key financial indicators
Financial stability
Socially Responsible Procurement
Ecological topics:

Social topics:

Human rights
Social Responsibility
Health and Safety
Transparency and Public Relations
Personnel screening and employment
Employee-management interactions
Corporate Culture
Remuneration and Evaluation
Training and education
Freedom of association
and collective bargaining

Stakeholder Engagement

The Fund's interaction with stakeholders is focused on achieving the goals of sustainable development 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 relations with stakeholders on the basis of the principles of mutual respect and partnership, information transparency, regularity of interaction and faithful observance of commitments undertaken.

The Fund uses a Standard process of Stakeholder engagement in accordance with AA1000 SES:

of Stakeholders
of Stakeholders
Planning of Stakeholders
with Stakeholders
Efficiency and Assessment

Principles of interaction with stakeholders

Information disclosure
Proper management
Identifying and studying
Consultations with stakeholders
Negotiations and partnership
Conflicts settlement procedures
Stakeholder involvement

Implementation Methods of Sustainability Initiatives

Strong corporate governance and improved risk culture Is provided by adoption and implementation of new Corporate Governance Code and Risk based approach to Sustainability
Financial sustainability Is provided by implementation of development priorities defined in Development plans
Strong Human Development Is provided by launching the new HR system with 3 main components: HR business partnership, HR expertise Center, General HR Service
High ethical standards and anti-corruption Is provided by Implementation of Ethics Code and Compliance function
Responsible procurement Is provided by introduction of the new procurement approach, including category procurement management and launching the system of preliminary qualification of potential suppliers, as well as improved transparency of procurement process
Good reputation and high level of transparency Is provided by Implementation of the Communication Plan and increasing the transparency and information disclosure processes
Strong H&S culture Is provided by promotion of strong H&S culture within the Portfolio companies of the Fund
Responsible investment Is provided by implementing key Responsible Investment Principles in Investment Policy of the Fund and fitting sustainability metrics of ESG into the process of design, implementation and monitoring of an investment
Ecological responsibility It is provided by observing environmental legislation, norms and standards in the field of environmental protection, and also by investing in the development of the environmental activities of the Fund and the Fund’s Group