LocationsKazakhstan discusses Roadmap for transition to IFRS sustainability standards
December 12, 2025
A national roundtable on the implementation of IFRS S1 and IFRS S2, international standards for sustainability and climate-related financial disclosure, was held in Astana. The event was jointly organised by the Ministry of Finance of the Republic of Kazakhstan and the United Nations Development Programme (UNDP) in Kazakhstan.
The roundtable brought together representatives from government agencies, the quasi-public and corporate sectors, financial institutions, and auditing and consulting companies.
During the meeting, participants were introduced to a draft Roadmap that will serve as a key action plan for regulators, businesses, and the professional community. The document is based on the International Financial Reporting Standards (IFRS) Foundation’s methodology and incorporates findings from a market readiness assessment conducted by Ernst & Young (EY).
Dauren Kenbeil, Vice Minister of Finance of the Republic of Kazakhstan
In his opening remarks, Vice Minister of Finance of the Republic of Kazakhstan Dauren Kenbeil emphasised the importance of adopting the new reporting standards. He noted that the implementation of IFRS S1 and S2 is a logical continuation of Kazakhstan’s commitment to a green economy and carbon neutrality and is essential to maintaining the country’s global competitiveness.
Katarzyna Wawiernia, UNDP Resident Representative in Kazakhstan, highlighted the transformative nature of the new standards.
"We are pleased to support Kazakhstan in building a modern, transparent, and resilient financial ecosystem. IFRS S1 and S2 provide a strong foundation for better risk management, investment attraction, and the expansion of climate-resilient finance,"
she said.
Viktor Kovalenko, Partner at EY and Head of Climate Change and Sustainability Services for Central Asia, the Caucasus, and Ukraine, presented the draft Roadmap for implementing IFRS S1/S2 in Kazakhstan.
To ensure the successful execution of the plan, a dedicated training programme will be launched to enhance the competencies of specialists from government agencies, the corporate sector, and professional associations. The final goal is a phased transition toward mandatory application of the sustainability reporting standards, with full implementation targeted by 2029.
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