ASTANA – Kazakhstan has positioned itself as Central Asia’s frontrunner in sustainable finance, according to a June 16 report by the Organization for Economic Co-operation and Development (OECD) on Responsible Business Conduct for Sustainable Infrastructure in Kazakhstan, Mongolia, and Uzbekistan.
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The report highlights Kazakhstan’s comprehensive, cross-sector approach to implementing responsible business conduct principles in its economy. National strategies prioritize labor safety, environmental modernization, decarbonization, human capital development, and greater business involvement in the ESG agenda.
OECD experts attribute the country’s progress to systemic government measures that support domestic producers, develop small and medium-sized enterprises, and strengthen mechanisms for sustainable economic growth.
Several criteria are cited as key initiatives of Kazakhstan that have received a positive assessment from the OECD.
Occupational safety
Kazakhstan has made significant efforts in reducing industrial injuries and improving workplace safety.
Since 2019, the country has implemented the Vision Zero concept, aimed at eliminating occupational injuries and fatalities. In 2024, a digital map was introduced to monitor working conditions, enhancing transparency and compliance with safety standards. The concept of safe labor for 2024-2030 now provides a systemic framework for managing professional risks and fostering a culture of occupational safety.
Environmental modernization
Kazakhstan has incentivized the transition to environmentally friendly production by exempting enterprises that adopt best available technologies (BAT) from environmental emission taxes. The government also offers financial and technical support for production upgrades, including investment subsidies and streamlined procedures.
Renewable energy
To attract investment in renewables, Kazakhstan has provided tax incentives since 2016, and since 2020 has fully exempted imported renewable energy equipment from VAT and customs duties. Investors can also receive grants of up to 30% of project costs, making the sector more competitive.
Tariff in Exchange for Investment program
This initiative reimburses infrastructure and energy investors through regulated tariffs, ensuring predictable returns and facilitating private capital inflows into modernizing energy and utility systems.
Human capital development
Recognizing the importance of skilled labor for sustainable growth, Kazakhstan declared 2025 the Year of Working Professions, focusing on vocational training and upskilling in priority sectors such as energy, construction, water supply, and transport. These measures are intended to strengthen institutional and workforce capacity in critical infrastructure areas.
