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Abstract
Kazakhstan, a country with a rapidly developing financial system, is currently undergoing an active transformation of its banking sector under the influence of global sustainability standards and the introduction of ESG initiatives (environmental, social, and governance aspects). Amid increasing requirements from regulators, investors, and society, domestic banks seek to integrate ESG principles into their corporate governance strategies and operational activities, shaping new mechanisms of transparency, accountability, and financial resilience. The purpose of this study is to conduct an audit and assess the effectiveness of ESG standard implementation in the banking sector of Kazakhstan, using the cases of Halyk Bank, Bank CenterCredit, Kaspi Bank, and ForteBank. The article presents comparative results of ESG practice analysis, identifies key achievements and challenges, and examines international experience in ESG integration in the banking industry, including practices from Europe and Asia, which may be adapted to national conditions. The methodological framework is based on system analysis, comparative review of publications, official banking reports, and international ESG standards (GRI, TCFD, SASB) over the past five years. Special attention is given to the audit of ESG processes, the evaluation of the impact of environmental, social, and governance initiatives on financial performance, as well as tools for enhancing transparency and accountability in banks. Based on the analysis, practical recommendations have been developed for banks and regulatory authorities to improve ESG policies, strengthen corporate responsibility, and increase trust from clients and investors. The study concludes that ESG is of strategic importance for the sustainable development of Kazakhstan’s banking system, the enhancement of competitiveness, and the integration of national financial institutions into global standards.