The Association of Chartered Certified Accountants (ACCA) and Astana International Financial Centre (AIFC) Green Finance Centre have hosted a seminar in Astana, Kazakhstan, to bolster the understanding of sustainability disclosures among regulators and business leaders in Central Asia.
The Capacity Building Seminar provided an overview of International Sustainability Standards Board (ISSB) standards.
It included case studies showcasing best practices and delivered practical training on preparing sustainability reports focused on IFRS S1 and S2.
IFRS S1 outlines the requirements for preparing and presenting sustainability-related financial disclosures.
Meanwhile, IFRS S2 defines how to disclose an entity’s climate-related risks and opportunities.
Participants also gained insights into developing and disclosing transition plans.
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By GlobalDataWith the adoption of IFRS S1 and S2 gaining momentum globally, leaders and regulators from Kazakhstan, Uzbekistan, Kyrgyzstan, Azerbaijan and Tajikistan were informed of the need to enhance their knowledge in this area.
AIFC Green Finance Centre CEO Manas Gizhduaniyev said: “This year, the AIFC Green Finance Centre, with the support of the UNDP (United Nations Development Programme), will focus on updating the current AIX (Astana International Exchange) Guide for voluntary ESG [environmental, social and governance] disclosure, ensuring a more comprehensive implementation of the ISSB standards (IFRS 1 and 2).
“We anticipate these standards will become the dominant framework for sustainability reporting in the medium term, both within Kazakhstan and throughout the wider region.”
Increasing awareness and knowledge about sustainability reporting standards is expected to help regulators and prepare the business community for the effective implementation of these standards.
The seminar is part of a broader initiative to align Central Asian financial practices with global demands for consistent, comparable and verifiable information on sustainability-related risks and opportunities.
Earlier this month, the ACCA released the pass rates for the March 2025 exam session.
The ACCA Qualification saw 90,707 candidates enter in March, with 102,076 exams completed.
