Baiterek Holding's approach to sustainable development

As a key governmental financial institution, Baiterek Holding recognizes its impact on Kazakhstan’s economy, environment, and society. It strives to ensure long-term sustainable development and maintain a balance of stakeholders’ interests.

The Holding’s sustainable development is a set of principles and obligations that the Holding is guided by, namely:

  • stakeholder engagement management;

  • national economics, social and environmental impact assessment and management.

The Holding consolidates its economic, environmental, and social goals to ensure long-term sustainable development.

The Holding’s Sustainable Development Policy

The Report on Sustainable Development for 2020

Economic component Environmental component Social component
  • maintaining the solvency of the Holding and its subsidiaries;
  • ensuring the interests of shareholders and investors;
  • increasing the efficiency of the work process;
  • increasing investment in the development of up-to-date technologies;
  • increasing labor productivity;
  • creating new jobs;
  • increasing the export of non-resource sectors;
  • ensuring the growth of the manufacturing industry.
  • minimizing the impact on biological and physical natural systems;
  • reasonable use of scarce resources;
  • use of environmentally friendly, energy and material saving technologies.
  • ensuring healthy competition and equal employment opportunities;
  • fair remuneration and respect for workers' rights;
  • ensuring labor safety and preserving the health of employees;
  • training and professional development of employees;
  • implementation of internal and external social programs.

Building interaction with stakeholders, the Holding is guided by the following basic principles:

  • showing respect for the interests of all parties;
  • providing information about the Holding’s activities to the target audience;
  • ensuring objectivity, reliability, independence, and a high level of information transparency in the implementation of government programs, individual internal procedures (procurement, personnel selection, provision of financial and non-financial services), and the use of financial resources;
  • ensuring open and productive cooperation with all stakeholders;
  • fulfilling obligations to all interested parties;
  • receiving regular feedback from stakeholders.

The Holding adheres to the principles of the UN Global Compact:

  1. Principles of human rights protection:
    • the Holding supports and respects the protection of internationally proclaimed human rights;
    • the Holding guarantees that it is not complicit in human rights violations.
  2. Principles of the employment relationship:
    • the Holding supports and recognizes the right to collective bargaining;
    • the Holding contributes to the elimination of forced and compulsory labor and discrimination in employment and occupation
  3. Principles of environmental protection:
    • The Holding supports a cautious approach to solving environmental problems;
    • The Holding takes initiatives to increase environmental responsibility;
    • The Holding encourages the development and distribution of environmentally friendly technologies.
  4. Anti-corruption principles:
    • The Holding declares intolerance to all forms of corruption and other illegal actions, including extortion and bribery.
The Holding’s sustainable development management is an integral part of the Holding’s general management system..

The Holding’s Board of Directors exercises strategic management and control over the implementation of the sustainable development strategy. The Strategic Planning Committee under the Holding’s Board of Directors annually considers the issues of sustainable development.

The Holding’s Management Board approves the action plan for sustainable development. The Strategy and Corporate Development Committee under the Holding's Management Board coordinates activities in the field of sustainable development.

The Holding’s structural divisions take measures to achieve efficiency in sustainable development.

UN Sustainable Development Goals

In September 2015, the 2030 Agenda for Sustainable Development was adopted at the 70th session of the UN General Assembly. The agenda includes 17 UN Sustainable Development Goals (UN SDGs), which replaced Millennium Development Goals.

The newly adopted goals are addressed not only to governments, but also to other participants in the global process of sustainable development: businesses, civil society, and all individuals.

The Holding and its subsidiaries contribute to the achievement of the UN SDGs by Kazakhstan.

When choosing projects to invest in, the Holding prefers projects that comply with the SDGs and have a significant impact on the sustainable socio-economic development of the Republic of Kazakhstan. In particular, projects should contribute to the following:

  • inclusive and sustainable industrialization;
  • openness, safety, livability, and environmental sustainability of cities and towns;
  • diversification of the economy of Kazakhstan and individual regions or cities.

The Holding's contribution to the achievement of the UN SDGs is disclosed in more detail in the Holding's 2019 Annual Report.

Responsible investment

The Holding, as a financial institution, pays special attention to responsible investment. It seeks to introduce and integrate ESG factors into the process of making investment decisions by presenting them to the Holding's counterparties.

The Holding expects its counterparties to:

• apply an environmental risk management system to identify and assess actual and potential impacts on the environment and society; determine and take appropriate management measures; monitor the level of environmental risks.;

• manage human resources and ensure the health of employees; respect workers' rights, including freedom of association and the right to collective bargaining; ensure fair treatment of employees, create safe and healthy working conditions, prevent adverse effects on human health and safety;

• ensure effective corporate governance based on the principles of fairness, honesty, responsibility, transparency, and professionalism. Effective corporate governance contributes to the company’s successful development (the growth of its market value, maintenance of financial stability, and profitability) and presupposes respect for the rights and interests of all persons associated with the organization.

The ESG rating is a key tool for a company to determine whether the implementation of ESG standards has been successful. This rating measures the sustainability of the company in the long term by identifying its risks and opportunities.

In 2019, the Holding received the ESG international rating for the first time. The experts of the ISS-oekom Rating Agency assigned the Holding a D+ rating, while other organizations operating in the same sector were ranked at the D or C level, with the highest rating being B (Asian Development Bank).

The experts noted the Holding's adherence to the principles of social responsibility, corporate governance and business ethics, as well as the intention to integrate ESG factors into its strategy and business processes. The experts also noted that environmental factors should be taken into account in the implementation of project activities.

The Holding is actively working in this direction. In 2020, it developed Environmental and Social Policy in order to increase the potential environmental and social effect of its projects. The policy defines the principles and approaches to accounting and monitoring of environmental and social factors in the investment activities of the Holding and its subsidiaries. The policy was developed following international initiatives for responsible investing: the UN Principles for Responsible Investing, the Equator Principles, and IFC's Environmental and Social Performance Standards. The policy also defines criteria for green projects based on the green taxonomy developed by the AIFC.


In 2019, the Holding’s Management Board approved the Human Resources Policy. It is a corporate standard that regulates effective human resource management in the Holding and its subsidiaries. The document provides for significant changes in the professional development and certification of personnel, the formation and promotion of the employer's brand, and value management.

Employer brand

In order to increase the involvement of the Holding's employees, ensure internal communication and transparency, the Holding has taken several measures: a Telegram channel has been created for publishing company news (HR News); a channel for publishing vacancies to search for external candidates was created as well. The Holding conducts surveys among its employees to determine their level of satisfaction with the work of internal departments. Such qualities as effective teamwork in projects, mutual respect, and assistance in solving problems are assessed. This indicator is also included in the Eurasian Economic Commission staff card. In 2020, the level of the Holding’s employee engagement was 80%.

Selection of personnel

The selection of personnel has three levels of priority. Candidates from the President's Youth Personnel Reserve and the Holding’s Personnel Reserve are considered first. Internal candidates (employees of Baiterek Holding, its subsidiaries, and the outsourcing sector) are considered second. External candidates are considered last. This principle of search and selection allows us to regulate the priority of internal selection in order to retain key specialists and motivate them to continue working in the Holding. Information on the search for external candidates is published on the Holding’s website and in the Telegram channel. Applications are accepted by e-mail.

Talent management

In 2019, the Holding selected talented employees for the Holding’s Personnel Reserve. The tasks were: a quick search for candidates for key vacancies, quick adaptation to a new position and maintaining continuity, and motivation of key specialists. Reservists were selected from among the Holding’s employees in three nominations: “Top-100” (future heads of structural divisions), “Top-50” (future managing directors and members of the Management Board) and “Top 20” (top managers ready for appointment). At the end of 2019, 112 people were enrolled in the Personnel Reserve.

Training and professional development

Employees are trained in order for them to update and obtain additional theoretical and practical knowledge, skills, abilities, and competencies in professional and managerial activities. It’s necessary for the effective fulfillment of their duties and tasks, determined by the Holding’s development strategy. The training is carried out based on the following principles:

  • the topic and content of training events must meet the needs determined by the employee's duties, the results of his/her activities, the goals, and objectives set for him/her;
  • studying the best corporate practices and standards should help solve specific problems and increase the Holding’s efficiency;
  • the training should be systemic, practicable, and effective;
  • maximum possible number of employees should undergo training and professional development programs.

Employee remuneration and performance management

Since the beginning of 2018, employees of "Baiterek" NMH" JSC have switched to a fundamentally new system for evaluating performance based on ECE performance (once a quarter), which allows you to “cascade” ECE management at the level of the structural unit and individual employee, have enough criteria to determine a clear the level of achievement of the goal at the threshold-goal-challenge level and evaluate the real effectiveness of each employee. In addition, once a year, employees of "Baiterek" NMH" JSC pass a comprehensive performance assessment, which examines the overall performance of the employee over the past year and the level of development of his personal and business competencies. The results are distributed according to the so-called "9-cell talent matrix".

According to the results of the assessment, no bonus is paid, but the results of the evaluation influence decisions on further motivation and stimulation of the employee (training, promotion, admission to the personnel reserve, etc). In accordance with the updated Development Strategy of "Baiterek" NMH" JSC for 2014-2023, from 2017, a system of grading and unification of the wage system has been introduced in the group of companies of "Baiterek" NMH" JSC. The introduction of common principles allows ensuring the internal justice of the wage system and comparing it with the current situation on the labor market.

Safety and labor protection

As a responsible employer, the Holding and its subsidiaries strive to ensure the proper organization of work of workers in the workplace and create safe working conditions that meet the requirements of the legislation of the Republic of Kazakhstan in this area. In the performance of their official duties, as well as while in the premises of the Holding, employees comply with safety regulations adopted and developed by the Holding in accordance with the Holding's policies and on the basis of the legislation of the Republic of Kazakhstan. Every year, the Holding Group conducts training activities on labor protection and safety - seminars, business breakfasts, and exercises on evacuation from the Holding's building in emergency situations.

Environmental Impact

Due to the nature of its activities, the Holding does not have a direct significant environmental impact. The main resources consumed by the Holding are electric power, heat and water.

The Holding applies the principles and methods for rational use of resources that ensure prevention of adverse environmental impacts in the best possible way.

The Holding seeks to reduce excess resources consumption and minimize the existing adverse environmental impact within its activities through the introduction of energy-efficient technologies, reduction of water consumption, paper consumption for office needs through application of an e-document management system and double-sided printing practices.


‘Green Office’

The Holding has approved the Green Office Concept, which contains the goals, objectives and principles of the Green Office, as well as approaches to greening the office and proposed activities.

Objectives of the formation of the Green Office Concept:

  • reducing the negative impact of the Holding's activities on the environment;
  • environmental education of employees;
  • increasing the level of rational use of resources.

The principles of the Green Office Concept of the Holding are based on the three R rules - Reduce, Reuse, Recycle:

  • Reduce. According to this principle, the "green office" should strive to reduce the use of natural resources: electricity, water, paper, heat. This rule is achieved both by using modern technologies and equipment, and by organizational and campaigning measures.
  • Reuse. This principle focuses on the use of consumables, including paper, stationery and office equipment, made from recycled materials.
  • Recycle. The main thing in this principle is to properly dispose of used raw materials: to sort all waste, hand over waste paper, and properly dispose of office equipment and batteries.
Since 2019, the Holding has been actively participating in the republican competition "Green Office" held by the ALE "Coalition for a "Green Economy" and the Development of G-Global" with the support of the Ministry of Ecology, Geology and Natural Resources of the Republic of Kazakhstan and the OSCE Program Office in Nur-Sultan with the aim of promoting advanced green technologies for the transition to an ecological and low-carbon lifestyle.

Sponsorship and Charity Activities

The decision of the Holding Board approved the Charity Program for 2019, which provides for a set of measures and measures to provide charity and sponsorship to applicants, as well as ensures transparency in planning and effective management of funds intended for charity within the approved annual budget and (or) development plans.

In 2019, 10 projects were implemented to provide philanthropic assistance to those who applied in order to improve their living conditions, in particular, with the aim of treating children with diagnoses of cancer, cerebral palsy and others.

Implemented initiative projects of the Holding in 2019

  • "Baiterek Open Hearts" Charity Fairs were held in February and November 2019. The proceeds were used to treat children with serious illnesses;
  • A social team-building was organized, within the framework of which the employees of the Holding congratulated veterans of the Great Patriotic War and rear workers;
  • The charity campaign “Road to School” was held, in which 80 children from dysfunctional families received backpacks with office supplies by the beginning of the new school year;
  • Participated in the annual charity run "Burabike".

Also, a charitable challenge "Good Deeds of Bayterek" was organized, within the framework of which 10 companies of the Holding organized a number of charitable events, such as: planting trees, a visit to a nursing home, a visit to a children's oncological center, a visit to the Akmola educational and production enterprise of the Kazakhstan Society of the Blind, assistance to pregnant women, those who find themselves in a difficult life situation, assistance to the Stop Catching Animal Rescue Fund and others.


Rules for the implementation of charity by the joint-stock company "National Managing Holding "Baiterek"

Report on the implementation of charity by the joint-stock company "National Managing Holding "Baiterek" for 2019

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