Screen Reader12/19/2024
- Who We Are
For the first time, Sustainable Fitch has granted Baiterek Holding an ESG rating of "3" accompanied by a score of 57. This rating evaluates the company's strategic approach and initiatives in the realm of sustainable development. Notably, it takes into consideration ESG factors integrated into financial operations, social commitments, and management practices.
Sustainable Fitch expressed a favorable view of Baiterek Holding's emphasis on social considerations, particularly highlighting the financial support provided to SMEs through its subsidiaries, namely Qazaqstan Investment Corporation (QIC), Damu Entrepreneurship Development Fund, and Bereke Bank JSC. Additionally, Sustainable Fitch recognized housing programs, including those targeting underprivileged populations, implemented by Otbasy Bank and Kazakhstan Housing Company. The agency also noted the promotion of product exports from manufacturing industries by KazakhExport.
The positive evaluation extends to the adoption of green financing within Development Bank of Kazakhstan, Damu, QIC, and Agrarian Credit Corporation.
In examining Baiterek Holding's social profile, Sustainable Fitch underscored the Human Rights and Labor Resources Policy formulated by the holding. The overall diversity within the organization, with a workforce comprising 52% women, was acknowledged as a positive aspect.
The agency also noted the commitment to implementing ESG principles within Baiterek's subsidiaries. Both the Development Bank of Kazakhstan and Qazaqstan Investment Corporation secured ESG ratings of "3" from Sustainable Fitch. Meanwhile, the Damu Fund received an official ESG assessment from another reputable international agency, S&P Global.
For reference:
Baiterek Holding is a national development institution dedicated to bolstering key sectors of the economy. It oversees eight subsidiaries that cater to micro, small, medium-sized, and large businesses. These subsidiaries extend support to various areas such as export operations, venture capital, agriculture, and housing finance.
Sustainable Fitch's ESG ratings assess organizations' environmental, social, and governance performance. These evaluations help the financial ESG community in making well-informed decisions. The agency has devised a modular analysis system enabling the provision of a Second Party Opinion (SPO) and a comprehensive set of ESG ratings. This includes an entity rating, a structure rating, and an instrument rating.
