Establishment of Council of Turkic "green" finance proposed

By Trend

President of Kazakhstan Kassym-Jomart Tokayev proposed to create a Council of Turkic "green" finance, Trend reports on November 11.

Tokayev made the proposal during the Summit of the Organization of Turkic States in Samarkand.

According to Tokayev, the development of "green economy" is currently an important priority.

"Climate change has given rise to many global problems, which, of course, is of great concern to the international community. The environmental consequences of this phenomenon are also holding back the progress of our countries," he further said.

The president noted that over the past seven years alone, the countries have spent over $2.5 trillion on green bonds.

"To expand the capital market in this area, I propose to create a Council of Turkic "green" finance, which can be opened on the basis of the "Green" Finance Center of the Astana International Financial Center (AIFC), given its experience and authority among the world's largest companies. Besides, the duties of the Secretariat of this Council could be assigned to the AIFC," Tokayev added.