Sustainable development and ESG investment: Conrad Albrecht shares the EDB’s vision at the ITS Ideas Conference
Astana, 5 September 2024. Conrad Albrecht, Managing Director and Head of the Directorate of Sustainability at the Eurasian Development Bank (EDB), presented at the ITS Ideas 2024: Global Financial Market Opportunities conference, held on 4 September in Astana. He highlighted the pivotal role of sustainable development in emerging markets and outlined the potential for ESG investments in Central Asia.
Conrad Albrecht opened his presentation by underscoring the significance of sustainable finance for transitioning economies. He noted that sustainable development has become an integral part of economic growth, with sustainable investments playing a key role in leveraging capital for environmentally responsible projects.“For emerging markets like Kazakhstan and other Central Asian countries, financing through sustainable development instruments is critical for capital mobilisation. This contributes not only to the corporate sector but the broader regional economy, facilitating a smooth transition to a greener and more sustainable development model,” he stated.
He further emphasised the importance of ESG for today’s investment community, highlighting that understanding these factors is increasingly relevant for both institutional and retail investors.
Albrecht paid special attention to the need for transitioning from carbon-intensive industries to greener technologies. He stressed that sectors such as energy require modernisation and that the EDB actively supports projects in this area.
“We cannot expect industries with high CO2 emissions to transform overnight. The transition must be smooth to accommodate various aspects. Our Bank is actively involved in modernising energy infrastructure, helping companies reduce their carbon footprint and adopt cleaner technologies,” he explained.
As an example, Albrecht cited key EDB projects in Kazakhstan and other Central Asian countries aimed at modernising carbon-intensive facilities and improving their environmental efficiency. One notable project is the conversion of Almaty CHPP-3 from coal to gas, which is expected to reduce the facility’s net specific emission factor by 62% by 2030 (from 1.2 to 0.5 CO2eq/MWh).
“Kazakhstan is among the regional leaders in per capita CO2 emissions. This presents significant opportunities for transitioning to cleaner energy and attracting investment, particularly in line with the nation’s 2060 Carbon-Neutral Strategy. The Bank actively supports projects that aim to reduce carbon footprint and promote environmentally friendly technologies,” he added.
In closing, Conrad Albrecht stressed that, in an evolving demographic and regulatory environment, sustainable development would be an important driver of the region’s long-term growth and prosperity.
“We stand at the brink of a transformative era, and companies and banks that begin to embrace sustainability today will gain an advantage in the future. The EDB will continue to support projects that reduce pollution and introduce clean technologies,” he concluded.
The ITS Ideas 2024 conference, hosted by the ITS International Trading Platform and the ITS Ideas investment forecasting service, took place as part of Astana Finance Days, a major conference in Kazakhstan. The event brought together experts and analysts from leading investment banks, hedge funds and professional traders to discuss global financial market developments and their impact on various asset classes.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
ITS is an international liquidity hub. Central to ITS’s business model are the principles of best execution and smart order routing technology. These principles enable investors to execute securities transactions at the best prices available on the global financial market, regardless of the transaction volume. This technology ensures that the liquidity for foreign securities on ITS matches that of leading international platforms where these securities are traded.
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