Encouraging Green and Sustainable Bond Issuances in Emerging Markets: Focus on the Real Sector in Kazakhstan, Romania and Uzbekistan


Environmental Finance and IFC's emerging market real economy sustainability bond issuance webinar programme returns with a new instalment focussed on Kazakhstan, Romania and Uzbekistan.

This webinar is framed by the publication of the second edition of Emerging Markets Real Economy Sustainable Bonds Volume II - supported by IFC and HSBC which analyses the existing and potential real economy sustainability bond issuance across key sectors in emerging market countries.

Emerging market countries are turning their attention to sustainability issues and sustainable development with investment required to meet their Nationally Determined Contributions as part of the Paris Agreement.

There is growing regulatory support and pioneering sustainable frameworks being established to support sustainable development and potential sustainability bond issuance in emerging market countries.

This webinar focuses presents the outcomes of the published report and convenes key stakeholders from Kazakhstan and Romania. The discussion will cover the specific challenges facing real economy sustainability bond issuance and how it can be supported locally and attract international investors.

Report Summary Presentation

Target sector sustainable bond issuance overview – Power, Transport, Agribusiness

Country deep dives – Kazakhstan, Romania, Uzbekistan

Panel discussion

Who can issue a sustainability bond? Which sectors show potential in Romania and Kazakhstan?

How can the advantages and benefits of issuing green instead of plain vanilla bonds be communicated? Do they outweigh the additional issuance costs? How can IFC support corporates throughout the process of issuance, especially in emerging markets?

What are the main challenges facing prospective real economy sustainability bond issuers in the Romanian and Kazakhstan market?

How is the growing focus on sustainable finance, with new regulations and the taxonomy developments facilitating sustainability bond issuance in Romania and Kazakhstan? What are the measures undertaken by Bucharest Stock Exchange and Kazakhstan Stock Exchange to encourage green or sustainability bond issuances?

What type of investors are investing in sustainability bonds? How can international investors be attracted to emerging market issuance?


Ben Smith (Moderator)
Data Strategist, Environmental Finance Data
Carine Nasr Azkoul
Business Development Lead – Regio Technical Assistance Program – Africa, , IFC
Cristian Nacu
Senior Country Officer for Romania, IFC
Honorata Fijalka
Lead Europe & Central Asia -- Green Bonds Real Economy Green Investment Opportunity Program, , IFC
Mazhirina Zhuldyz Dabyrzhanovna
Director of the Listing Department, Kazakhstan Stock Exchange JSC