Abstract
The objective – is to substantiate the mechanisms for integrating ESG (Environmental, Social, Governance) principles into the corporate strategies of agricultural holdings in the Republic of Kazakhstan and to demonstrate the extent of the gap between the investment activity of the agrarian sector and the Sustainable Development Goals. Methods – an institutional approach, comparative benchmarking based on statistical data, content analysis of the public reports of agricultural corporations, and the authors’ methodology for calculating the ESG disclosure index (ESGscore) using weighting coefficients were employed. Results – a systemic disproportionality in investment allocation was identified: although agriculture accounted for 5.1% of the republic’s total fixed capital investment, environmental expenditures were three times lower than the national benchmark (0.2% vs. 0.6% in 2025). At the same time, the authors estimated the annual potential for the environmental modernization of the AIC at KZT 7 billion. Based on the ESGscore indicator, the concepts adopted by the five largest agricultural holdings in the country were classified, making it possible to identify five transformation models. It was demonstrated that the main driver of ESG modernization in Kazakhstan is not the scale of the resource base (land bank and other assets), but rather the depth of companies’ integration into international financial institutions and the requirements of external stakeholders. Conclusions – the study confirms the pronounced institutional inertia of the agrarian sector, manifested in the neglect of environmental policy despite the growth of gross performance indicators. The authors substantiate the necessity of incorporating ESG criteria into the corporate governance strategies of large agribusiness entities in order to enhance environmental and social responsibility and ensure information transparency. Agribusiness should replace the model of «social paternalism» with the application of non-financial reporting and comply with international standards to attract green investments. ESG standards contribute to creating favorable conditions for stimulating investors, strengthening reputation in domestic and international markets, and preserving biological and natural diversity.