AIX Launches Renewable Energy Certificate Trading, Boosting Green Finance
Astana International Exchange Launches Trading of International Renewable Energy Certificates
Astana International Exchange (AIX) has achieved a significant milestone in sustainable finance and carbon market development in Kazakhstan with the launch of trading for International Renewable Energy Certificates (I-REC). The first transaction involved London-based trading firm Valor Carbon purchasing 1,000 I-REC certificates from Samruk-Green Energy, a renewable energy producer in Kazakhstan.
I-REC is a global leader in the voluntary renewable energy certificate market, operating in over 50 countries. These certificates validate that electricity has been generated from renewable sources. In September 2024, the certificates verified by the ECOJER Association were introduced to AIX’s suite of sustainable finance products, marking the first environmental instruments on the exchange.
Daniyar Kelbetov, the chief product officer at AIFC authority, highlighted the importance of the I-REC trading platform launch in demonstrating their dedication to market-driven solutions for reducing the carbon footprint. He emphasized ongoing collaboration with leading international organizations to introduce more environmental products, including carbon trading instruments.
Nurzhan Aspandiyar, director of Valor Carbon in Central Asia, expressed enthusiasm for participating in AIX’s pilot trading initiative, underscoring its significance in advancing climate finance markets in the region. AIX is the first exchange in Kazakhstan to offer infrastructure for trading I-REC and other sustainable assets.
AIFC, as an independent jurisdiction with a favorable legal and regulatory environment, provides a platform for business development, investment attraction, job creation, and economic growth in Kazakhstan. The collaboration between AIX, Valor Carbon, and other stakeholders in the sustainable finance sector reflects a shared commitment to advancing the carbon credit market and sustainable financial mechanisms not only locally but also in Central Asia as a whole.
