Memorandum Participants Started with Planting Trees

The Eurasian Environmental Fund (EEF) non-profiting organization, Mastercard, Eurasian Bank and the Almaty Green Economy Department signed a memorandum of cooperation on the implementation of environmental projects to reduce the carbon footprint in Almaty in accordance with the principles of sustainable development.

On 5 June, Saturday, an alley in the Esentai River recreational area was planted as the first project. Taking into account the quarantine measures, the work was carried out by a specialized company. Eurasian Bank financed the planting of 75 trees with a lump of earth for better survival, and will cover the costs of caring for the alley during two years from the date of planting.

“Last year, we planted a record number of 282,000 trees throughout the city. Previously, not more than 30-40 thousand trees were planted in the city per year. Most of the landscaping took place in the attached territories of the Alatau and Nauryzbay Districts. In the spring, 64 thousand saplings of trees were planted, in general, 300 thousand young trees are planned to be rooted by the end of the year. Therefore, we are happy to receive any help from business and society in continuing the City Akim’s initiative to plant 1 million trees,” said Natalia Livinskaya, Head of the Green Economy Department of Almaty.

“We are planning various environmental measures to improve the environmental situation of cities and their environs in cooperation with government agencies, businesses, public organizations and eco-leaders. Our goal is to draw attention to global environmental challenges and implement concrete steps to address them. For this purpose, on 13 May 2021, the Eurasian Environmental Fund (EEF) non-profiting organization was registered in the jurisdiction of the Astana International Financial Center (AIFC) with the support of the AIFC Green Finance Center,” said Roza Nurtazina, CEO of the Eurasian Environmental Fund NPO.

“President of Kazakhstan Kassym-Jomart Tokayev set a goal to achieve carbon neutrality of Kazakhstan by 2060. One of the ways of implementation is the growth of urban greening and the introduction of green technologies. The AIFC actively participates in the Kazakhstan environmental program and creates the necessary infrastructure to motivate business and the public,” said Aidar Kazybayev, CEO of the AIFC Green Finance Center.

Eurasian Bank begins a new stage of its development with the use of green financial technologies and develops a special banking product with environmental content. In addition, the Bank will install the first NFC posters in Kazakhstan, which will allow you to transfer funds for tree planting with one touch of a payment card of any Kazakhstan bank.

“Today, the activity of banks is evaluated not only by financial indicators and competent management. The Bank’s participation in the social and environmental development of the society (ESG) is very important*. Our Bank’s efforts will be aimed at supporting green economy projects and creating an environmentally friendly banking service. This means that by developing remote service channels and online payments, we will gradually reduce the use of plastic and paper, and optimally spend irreplaceable resources. We will continue to plant trees ourselves and together with our customers through special banking products that we are developing,” said Valentin Morozov, Chairman of the Eurasian Bank Management Board.

“Today, climate change has a negative impact on each of us. Most of all, they affect the socially and economically vulnerable segments of the population. We believe that in this situation, business should be environmentally responsible, because economic growth cannot be achieved at the expense of depletion of the planet’s resources. This project, I am sure, will contribute to changes for the better. Environmental protection is our common cause!” commented Rafał Trepka, General Manager Central Asia at Mastercard.

Info:

Eurasian Bank is a socially important financial institution in Kazakhstan, and for 26 years, it has been consistently ranked among the ten major Kazakhstan banks in terms of assets and equity. It provides a wide range of services to Corporate and SME customers, is among the top 5 banks in terms of retail business, and actively develops digital banking. The Bank operates in accordance with the principles of corporate social responsibility and ESG criteria. The Bank launched the Green Office project in Almaty, supports landscaping campaigns in the cities of its presence, and in 2019, employees planted an alley of 240 seedlings in First President’s Park.

Mastercard (NYSE: MA) is a global technology company operating in the payment industry. Our mission is to provide secure, simple, technological and affordable transactions, to develop and strengthen the digital economy that benefits everyone and everywhere. By leveraging secure data and networks, building partnerships, and building on what inspires, we deliver innovations and solutions that help individuals, financial institutions, governments, and businesses realize their greatest potential. Our culture and everything we do inside and outside the company is determined according to the decency quotient (DQ). We do business in more than 210 countries and territories and create a sustainable world that offers invaluable opportunities for all.

Mastercard became the first payment company to have its emissions reduction goals approved by the SBTi (Science Based Targets initiative). The company recently announced that it intends to reduce direct and energy indirect greenhouse gas emissions by 38% by 2025, and other indirect emissions by 20% compared to 2016. Mastercard prefers renewable energy sources and energy efficiency programs: solar panels account for more than 50% of the energy consumed by Mastercard data centers. The company notes that supply chain-related emissions accounted for more than 70% of its carbon footprint as of the end of 2020. In this regard, Mastercard plans to support suppliers in identifying and achieving goals to reduce greenhouse gas emissions. Through Mastercard partnerships, customers can calculate their own carbon footprint and assess the impact of their consumer behavior. In addition, Mastercard has initiated a partnership for the production of plastic cards from recycled materials.

Eurasian Environmental Fund

The Eurasian Environmental Fund non-profiting organization was registered on 13 May this year in the AIFC jurisdiction. The fund founders are the AIFC Green Finance Center, the Kazakhstan Biodiversity Conservation Fund and Green Investment Group LLP.

The created Fund aims supporting the implementation of the goals of the Kazakhstan Concept on Transition towards Green Economy, adopted in 2013, and the goals of the Paris Agreement, ratified in 2016.

ESG* — Environmental, Social and Corporate Governance.