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
- 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.
The Holding approved the Stakeholders Map, developed in accordance with the Corporate Governance Code and the Holding's Sustainable Development Policy, which allows to improve the business reputation of the business, the company's capitalization, to establish effective and balanced relations with all stakeholders.
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:
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.
- 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.
- 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
- 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.
- Anti-corruption principles:
- The Holding declares intolerance to all forms of corruption and other illegal actions, including extortion and bribery.
Structural divisions of the Holding implement measures in the field of sustainable development, ensuring the achievement of KPI in the field of sustainable development. In accordance with the approved Action Plan for the sustainable development of the Holding for 2021, the following activities were implemented:
1. Subsidiaries of the Holding, in particular, Development Bank of Kazakhstan JSC, Kazyna Capital Management JSC, FRP Damu JSC, ESC KazakhExport JSC approved internal regulatory documents for the selection of projects based on the Environmental and Social Policy of the holding Baiterek.
2. Work was carried out to analyze the above policy for current project selection processes, as a result of which it was revealed that the Holding's subsidiaries take into account ESG factors when selecting projects and seek to introduce these factors into other business processes.
3. An analysis was made of the activities of the KazAgro holding in the field of sustainable development and international practices of the agro-industrial complex in this area, as a result of which initiatives and principles of sustainable agriculture were identified.
4. The unified database of "green" projects of the Holding and its subsidiaries was updated.
5. The Board of Directors of the Holding approved the Annual Report of the Holding for 2020 and the Sustainability Report of the Holding for 2020, prepared on the basis of the best international practices for information disclosure - the GRI Standards (decision of the Board of Directors dated July 19, 2021 No. 04/21). According to PwC Kazakhstan research, Baiterek holding became the best financial company in Kazakhstan in terms of ESG information disclosure in 2020.
Report on the implementation of the Action Plan for Sustainable Development of Baiterek NMH JSC for 2021
Report on the implementation of the Action Plan for Sustainable Development of Baiterek NMH JSC for 2020