Digital Bridge: Is Data Management the Same as Sustainable Development?

On October 13, at a session moderated by GPI Group partner Yulia Yakupbayeva, speakers discussed the following topics:

• Why is ESG about data rather than charity? Examples of IT solutions in the field of sustainable development;
• What steps does the financial regulator plan to take? How will this affect borrowers and issuers?
• What incentives do city administrations and companies have to implement ESG approaches?
• Why is the formation of a green supply chain coming to the forefront?
• What do the terms “Resilience” and “Greenwashing” mean, and why is it important to understand them?

“The agenda is accelerating. It now concerns not only corporations and regions, but also individual projects. ESG is not only about those three metrics (E, S and G). It is about reputation, ethics, and, of course, data. Smart cities — cities that use data to build a friendly service environment — are far more resilient in attracting talent, tourists, and retaining young people,” noted Yuliya Yakupbayeva, co-founder of the National ESG Club.

Digital trackers, IFRS requirements, non-financial reporting standards, and the requirements of regulators and exchanges — data from companies continues to accumulate, becoming embedded in strategies and reshaping the market landscape.

“Regulation aimed at implementing ESG principles in Kazakhstan has already come into force. The reporting system, the reliability system, and the corporate governance system are all part of ESG principles and will be analyzed within the bank’s risk management framework when conducting lending operations,” noted Maria Khadzhiyeva, Deputy Chair of the Agency for Regulation and Development of the Financial Market (ARDFM).

All speakers agreed that data management and transparency, along with the introduction of green supply chains, represent a new reality that will affect everyone.

“Our company already uses more than 50% renewable energy in its operations. We understand that our suppliers make the greatest contribution to our company’s carbon footprint. We have set a goal of zero emissions by 2040 and are now focusing on working with suppliers and introducing a green supply chain,” noted Rafal Trepka, General Director of Mastercard in Kazakhstan and Central Asia.

Implementing sustainable development is, first and foremost, about business transparency and manageability, which has a positive social and environmental effect.

“Today, implementing sustainable development principles demonstrates a company’s maturity. Talented people capable of delivering breakthrough projects and building a brand choose to work for responsible companies. We are implementing a number of projects and programs, publish non-financial reports annually, and see the results of this work,” said Anar Zhumagulova, CSR Manager at Beeline Kazakhstan.

Speakers also noted that data analysis and indicator systems are important in building smart and sustainable cities. In their remarks, Nursultan Kaldybayev (Astana Innovations) and Antonio Somma (Whiteshield) noted that cities should develop on a human-centered basis, creating data ecosystems and urban planning to build a friendly environment for residents and guests.

For reference:

Speakers at the panel session included: Maria Khadzhiyeva, Deputy Chair of the ARDFM; Nursultan Kaldybayev, Chairman of the Board of Astana Innovations JSC; Rafal Trepka, General Director of Mastercard in Kazakhstan and Central Asia; Gabit Musrepov, Partner, KPMG Caucasus and Central Asia Consulting; Anar Zhumagulova, CSR Manager, Beeline Kazakhstan; Shyam Ramkumar, Head of Growth Strategy, Circularice; and Antonio Somma, Partner, Whiteshield Consulting.