The transition to a green and carbon-neutral economy is one of the strategic priorities of the Republic of Kazakhstan.

The principal document establishing national objectives in this area is the Strategy for Achieving Carbon Neutrality of the Republic of Kazakhstan by 2060, approved by Decree No. 121 of the President of the Republic of Kazakhstan dated 2 February 2023.

The Holding contributes to the implementation of the national climate agenda through greenhouse gas emissions accounting, improvements in the assessment of climate risks and portfolio carbon intensity, and support for green and sustainable projects.

In 2025, the Holding updated its methodological approaches to calculating greenhouse gas emissions and setting climate targets.

Methodology for Calculating Greenhouse Gas Emissions

Greenhouse Gas Emissions Accounting

The calculation covers:

• Scope 1 – direct emissions from sources under the operational control of entities within the Holding Group;

• Scope 2 – indirect energy emissions associated with the consumption of purchased electricity and heat;

• Scope 3 – other indirect emissions occurring in the value chain, including financed emissions.

In 2026, the Holding prepared its first consolidated greenhouse gas emissions calculation for the Holding Group. Scope 1 and Scope 2 figures are presented over a three-year period, enabling changes in operational emissions to be assessed and results to be compared across reporting periods.

For Scope 3, consolidated data for 2025 are disclosed for material categories of indirect emissions, including Category 15, “Investments”. Accounting for financed emissions enables a more comprehensive assessment of the carbon footprint of the Holding’s portfolio.

Greenhouse gas emissions data for 2025 underwent external verification, enhancing the reliability, comparability and transparency of climate disclosures.

Greenhouse Gas Emissions of the Holding Group for 2025