How a Fast-Growing Fintech is Winning Big in ESG
The recent Freedom Holding Corp.’s 2025 Sustainability Report reveals a remarkable surge in external ESG investments from the Group. With a striking 124% increase, they have more than doubled compared to the previous year. Beyond the rapid growth, the report shows a clear shift from planning to action on this agenda. Numerous high-impact projects — from AI research centers to sports, community, and environmental initiatives — demonstrate how this NASDAQ-listed, fast-growing fintech group is elevating its ESG commitments, delivering measurable community benefits and long-term value for investors.
This is Freedom Holding’s third and most detailed Environmental, Social, and Governance (ESG) report in the last three years. It demonstrates how Freedom impacts the environment and treats people and communities in its areas of operation, and highlights the sustainability of the group’s non-financial performance.
“As a major financial group and systemically important market player, we recognize the responsibility that comes with our scale. The ESG agenda remains central to our long-term approach to sustainability and reputation management,” Timur Turlov, CEO and Founder of Freedom Holding Corp., says. Our long-term growth remains aligned with both societal expectations and international standards, he underlines.
Next-Level ESG
By continually strengthening its ESG performance, Freedom Holding is at the forefront of the best responsible business practices. It is embracing so-called ESG 2.0, the next-generation approach to environmental, social, and governance practices, by strategically embedding social impact into the business model. Beyond traditional ESG reporting, based on internal achievements in corporate governance, risk management, regulatory compliance, stakeholder engagement, workforce well-being, etc., Freedom actively supports external ESG initiatives — sponsoring education, sports, environmental, and community programs — that create measurable social value.
According to FRHC’s ESG report, published at the end of November, in the financial year 2025, ending 31 March 2025, the holding allocated a total of KZT 27.87 billion (~$57.6 million) to external ESG-oriented sponsorship and charity projects. In the previous year, ending March 31, 2024, the total support was KZT 12.41 billion.
This represents a rapid and substantial increase in just one year. By doing so, the company signals to investors that it not only manages social risks but also leverages its resources to generate long-term societal, reputational, and even financial impact, reflecting the core principles of ESG 2.0.
Investor Spotlight
Strong ESG performance has become more attractive to investors because it tends to bring better risk management, stronger reputations, and more resilient long-term growth. The external social dimension is especially influential today. Investors are increasingly looking for companies that support their communities through educational and sports programs, and broader philanthropic initiatives.
These efforts signal that Freedom Holding understands stakeholder expectations, can avoid costly social backlashes, and is better positioned to maintain trust during periods of market or societal stress, recent surveys show. Charitable activities also increase employee and customer loyalty, which positively impacts revenues. For many institutional investors, robust social commitments are now seen not just as “good citizenship” but as indicators of stable operations and long-term value creation.
According to the Global Institutional Investor Survey, published by EY in December 2024, more than four out of five investors (88%) surveyed for this report said that their institution either somewhat or substantially increased its use of ESG information over the past year.
Freedom’s ESG report provides a lot of information for those interested in a responsible way of doing business, with an emphasis on social responsibility — in Freedom’s case, in the segments of sports, education, technological development, community, and environmental support.
Winning Moves
Football — especially youth football — is the primary recipient of Freedom’s sports sponsorships. In fiscal 2025, Freedom’s entities provided $3.5 million to the Freedom QJ League, Kazakhstan’s national youth football league. Expanding its sports-infrastructure footprint, the company also invested $2.64 million in the construction of the Freedom Yelimay Football Complex in Semey, designed for year-round training. An additional $1.64 million was directed toward building a sports facility for people with disabilities in Oral, a key project aimed at strengthening inclusivity in sports.
Youth football is a personal priority for Timur Turlov, who views it as a way for the country to “dream big.” He argues that there is no reason Kazakhstan “can’t win the European Championship in about 15 years, when our current investments pay off.”
Beyond football, Freedom supports the Astana Qazaqstan Cycling Team, allocating $2.14 million to fund training camps and competition participation. The Kazakhstan Tennis Federation received $927.79 thousand to host the prestigious ATP 250 “Almaty Open” tournament in October 2024.
Brain Capital
Freedom Holding’s largest initiatives in the education segment are traditionally centered on advancing chess development in Kazakhstan, where the company is headquartered. As an avid supporter of the game, Timur Turlov views chess as a driver of strategic thinking and a foundation for building strong human capital — a key ingredient for long-term national success.
In fiscal 2025, the Group allocated $9.45 million to chess-related programs. The impact is already visible. In 2024, Kazakhstan achieved record results, earning 160 international medals in chess competitions, including 55 gold.
Beyond chess, Freedom Holding Corp. contributes to education through teacher-training programs, infrastructure development, research initiatives, fintech boot camps, scholarship schemes, and the organization of Olympiads, tournaments, and competitions across multiple disciplines.
Innovation Engine
As part of its efforts to support technological advancement, Freedom allocated $2.73 million to build and equip a new artificial intelligence facility at SDU University, which has now become a center for research in fintech, AI, and digital technologies. The project aligns with Kazakhstan’s national strategy to position itself as a leader in digitalization and AI implementation.
Another major contribution of the Group to the country’s tech development was the $3.84 million allocated to host the ICPC World Finals 2024 in Kazakhstan — the world’s largest and most prestigious competitive programming event.
Community Boost
According to the ESG report, Freedom Holding supports a broad range of initiatives aimed at assisting disaster victims, vulnerable populations, and local communities. The largest contributions — more than $6 million — were directed toward flood recovery efforts in the West Kazakhstan region and assistance for flood-affected families in the Aktobe region.
Children with disabilities received particular attention from the Group, with projects that included charity events and various forms of targeted support for children facing serious health challenges.
These efforts were complemented by dozens of additional community initiatives, including the modernization of libraries, cultural programs, expanded public internet access, equal-opportunity initiatives, and programs promoting women’s leadership.
Green Horizons
Freedom Holding’s environmental initiatives mainly involved funding two long-term projects. The Oasis Project, aimed at addressing one of the region’s most urgent ecological challenges — restoring water levels in the Aral Sea — received $0.41 million. A nationwide network of Freedom Fandomats, which collect plastic bottles and aluminum cans, received $54,720 in funding.
Additionally, $129,200 was provided to establish a botanical garden in the city of Oral.
Sustainable Future
All these initiatives support the UN Sustainable Development Goals and show Freedom’s commitment to leading not just in Kazakhstan, but across Central Asia. To put this into action, the holding helped start a regional office of the UN Global Compact. In March 2025, the UN General Assembly approved the United Nations Regional Center for the Sustainable Development Goals for Central Asia and Afghanistan, based in Almaty. This milestone creates new opportunities for businesses and governments to deal with global challenges for sustainable development together.
“Sustainability for us is not a stand-alone program but a philosophy that guides how we grow, invest, and support the communities around us. Each project — whether in education, technology, sports, culture, or environmental protection — reflects our long-term commitment to building a stronger and more resilient region. Empowering young people, fostering innovation, and improving quality of life are not just priorities; they are responsibilities we embrace as part of our mission,” concluded Timur Turlov.
