Approach of the Holding to the sustainable development

“Baiterek” Holding, being a key financial development institution of the Government of the Republic of Kazakhstan is aware of the importance of its impact on the economy, environment and society to ensure long term sustainable development and strives to maintain a balance of interests of stakeholders.

Given the high economic and social significance, the Holding is focused on increasing of the level of transparency of its activity to a wide range of stakeholders through the establishment of an effective system for sustainable development management.

Sustainable development in the Holding consists of three components: economic, environmental and social.


The economic component of the sustainable development of the Holding has the following objectives:

  • break-even activity of the Holding and its subsidiaries;

  • serving the interests of shareholders and investors;

  • improvement of the processes efficiency;

  • increase of investments in the creation and development of more advanced technologies;

  • development of labour productivity.

The environmental component of the sustainable development of the Holding has the following objectives:

  • reduce of the impact on biological and physical natural systems;

  • optimal utilization of limited resources;

  • use of environmentally friendly, energy - and material-saving technologies.

The social component of the sustainable development of the Holding has the following objectives:


  • providing of transparent competitive procedures and equal opportunities;

  • fair remuneration and respect for the rights of employees;

  • ensuring of occupational safety and health of employees maintenance;

  • training and professional development of employees;

  • implementation of internal and external social programs.

The objectives of the Holding in the field of sustainable development:

  • integration of the sustainable development principles into the activity of the Holding and its subsidiaries;

  • analysis of activity and risk control in the context of the three components of sustainable development;

  • improvement of the sustainable development management quality through the organization of system work;

  • creation of effective cooperation mechanisms of the Holding with stakeholders, including regular reporting on the results of sustainable development activity.

As part of its activity, the Holding is guided by the following principles in the field of the sustainable development: openness, accountability, transparency, ethical conduct, respect for the interests of stakeholders, legality, respect for human rights, corruption intolerance and conflict of interest inadmissibility.

The Holding also declares its commitment to the principles of the UN Global Compact in the field of human rights, labour relations, environment protection and fight against corruption.

Building relationships with stakeholders, the Holding is guided by the following basic principles:

  • respect and consideration of the interests of all stakeholders;

  • active information providing to the targeted audiences about its activity;

  • ensuring of objectivity, reliability, independence and a high level of information transparency in terms of government programs implementation, individual internal procedures (procurement, recruitment, presentation of financial and non-financial services), as well as the use of funds;

  • ensuring of open and productive collaboration with all stakeholders;

  • fulfillment of commitments undertaken to stakeholders;

  • feedback with stakeholders on a regular basis.



                                                                                                           Sustainable Development Policy of “Baiterek” NMH” JSC.pdf 


Objectives of the UN Sustainable Development (

At the 70th session of the UN General Assembly in September 2015 a new world agenda - “Transformation of our world: the Sustainable Development Agenda until 2030”, including the 17 Sustainable Development Goals (SDG) was adopted, which replaced the Development Goals millennia.

One of the peculiarities of the newly adopted goals is that they are addressed not only to governments, but also to other participants of the sustainable development process in the world: business, civil society, all private individuals.

The Holding is working to study the SDG and determine the contribution of the Holding to its achievement, including:

1) correlation of the objectives and indicators of the SDG with the goals, objectives, priorities and fields of activities of the Holding;

2) incurrence of liability to the SDG;

During the creation of the project portfolio, the Holding prefers projects corresponding to the SDG and which have a significant impact on the sustainable social and economic development of the Republic of Kazakhstan. In particular, projects should contribute to:

  • inclusive and sustainable industrialization;

  • openness, safety, resilience and environmental sustainability of cities and towns;

  • diversification of the economy of the Republic of Kazakhstan and certain regions/cities.

3) integration of obligations and goals with the processes and practices of the Holding;

The existing programs implemented by the Holding contribute to the achievement of the majority of the SDG and their objectives. At the same time, in order to meet the specific objectives and indicators of the SDG, the Holding will continue to work on integrating of the SDG into the processes and practices of the Holding.

4) information disclosure on assistance in achievements of SDG.

The Holding for the first time discloses information about the commitment of management and the highest priorities SDG for the Holding in the annual report for 2017.


Personnel Policy

Corporate culture

Employees are the main value and the resource, the results of the Holding's activity directly depend on the level of their professional skills and safety.

In order to maintain a corporate culture based on high ethical standards, all the employees of the Holding are guided by the general principles of business ethics, such as trust, mutual respect and decency.

Development of corporate culture is based on the achievement of the following conditions:

  • managers create a climate that motivates employees to make maximum efforts to achieve results;

  • initiative and innovation are encouraged;

  • self-improvement and self-development are an awareness;

  • administrative official and employee focus on the end result and the success of the common cause;

  • each administrative official and employee understands its role and importance in achievement of strategic goals;

  • each decision is made taking into account the social orientation of the business and orientation to the main stakeholders of the Holding.

An integral part of the corporate culture of the Holding is events aimed at consolidation of a team spirit, in which employees of the Holding and its subsidiaries take part.

An integrated employee engagement rate of the Holding Group was 78% in 2017.


Training and development 

The Holding has a system of continuous training and professional development of employees using modern technologies and information management systems. When training process organization, such educational forms as business breakfasts with experts, training probations, coaching, case studies, brainstorming, projects, etc. are used.

At the end of 2017, full coverage of the Holding's employees was achieved through the corporate-format training events. A total of 114 events were held in 2017 on the programs of training and professional development of the Holding's employees in various areas: economics and finance, project management, law and jurisprudence, corporate governance, budgeting and financing, language courses, etc.


Staff works efficiency assessment 

The Holding holds a quarterly assessment of employees’ performance based on key performance indicators (KPI). KPI is set in quantitative and qualitative values ​​and reflects the strategic priorities of the Holding. The cycle of planning and evaluating of employees’ performance consists of the following steps:

  • planning – setting of targeted KPI and drawing up of an individual development plan to achieve the set KPI;

  • approval - approval of KPI cards by the Management Board of the Holding and KPI cards of management by the Board of Directors;

  • evaluation - calculation and approval of actual performance, preparation of a report on the implementation of the training plan and professional development.


Occupational health and safety

The Holding takes measures to ensure the proper organization of employees work at workplaces and creates safe working conditions meeting the requirements of the legislation of the Republic of Kazakhstan in this area. In order to comply with the rules of labour protection and safety in the Holding, annual training events are held. For example, introductory and planned briefings, as well as emergency response exercises were conducted repeatedly in 2017.



Social support for workers

The Holding provides its employees with basic social guarantees and considerations provided for by the current legislation of the Republic of Kazakhstan, and also consistently implements and develops additional social programs and benefits. Thus, within the framework of the social support program for employees, the Holding annually provides medical insurance for its employees.


Responsible investment

When the objective of cost-effective and sustainable operations is achieved, the Holding follows international best practice in environmental and social issues, as well as in corporate governance (ESG factors) in the framework of projects that receive financial support from the Holding in order to develop responsible investment practices in accordance with the main international standards in this area - the UN Principles for Responsible Investment and the Equator Principles.

The Holding seeks to introduce and integrate ESG factors into the process of making investment decisions, including by familiarizing with the Holding’s counterparties ESG factors.

The Holding wants the counterparties to:

  • use an environmental (ecological) risk management system to identify, assess actual and potential impacts on the environment and society, determine and effectively implement appropriate management measures, control the level of environmental risks;

  • use a human resource management system and ensure (maintenance) the health of employees, which should be based on respect for the rights of employees, including freedom of association and the right of collective bargaining; this system should ensure fair treatment of employees, creation of safe and healthy working conditions for them, prevention of adverse effects on the health and safety of population groups and consumers;

  • use a system of good corporate governance based on the principles of justice, fairness, responsibility, transparency, professional skills and competence; good corporate governance implies respect for the rights and interests of all people interested in the organization’s activity and contributes to its success, including the growth of its market value, maintenance of financial stability and profitability.


Environmental impact

Due to the nature of its activity, the Holding does not have a direct significant impact on the environment. At the same time, the Holding is committed to reduce excess consumption of resources and minimize the existing negative environmental impact through the introduction of energy efficient technologies, reduction of water and paper consumption for office needs through the introduction of electronic document management system and duplex printing.


Sponsorship and charitable activity

Sponsorship and charitable activity of the Holding were aimed at assistance providing to the vulnerable segments of the population and financially disadvantaged citizens, reviving of national values, supporting of culture, science and education in 2017.

Among the charitable activities of the Holding in 2017 was assistance providing to the Public Association of Disabled People “Independent Life Center “DOS” in order to organize the exhibition “The best social projects implemented in Kazakhstan”. The purpose of this event was to draw the attention of civil society to the problems of disabled people. Social projects submitted to the competition, demonstrated an extraordinary vision of existing problems, opportunities and directions for their solutions.