On November 18, Dr. Hans Holzhacker, Chief Economist of the CAREC Institute, provided an open lecture on the topic “ESG – transformation: a new paradigm” at the Faculty of Economics and Business of the Almaty Technological University. ESG incorporates environmental, social, and governance considerations into investment and business activities that can help accelerate the transition of countries to a green and sustainable economy.
Dr. Hans Holzhacker spoke about the structural changes imminent in the CAREC region and presented the results of a recent economic brief of the CAREC Institute, which concluded that CAREC member countries have different levels of ESG policy and investment development. ESG disclosure and transparency have been improving in several CAREC country members, while much progress remains to be made in the practical development and implementation of ESG frameworks. The economic brief suggests all stakeholders to work together to better shape national and multinational ESG strategies, design and implement ESG rules and standards at the firm level and to accelerate the process of ESG development.
The event, organized by the Department of Accounting and Finance, brought together not only professors and teaching staff of the university, but also representatives of the United Nations University for Peace, the Financial Market Consumer Protection Department, the Scientific Council of the Sustainable Development Laboratory of the EURISPES – Institute of Political, Economic and Social Studies, and others.