AIFC unveils Carbon Platform development plans on AIX
The Astana International Financial Centre (AIFC) has announced its plans to develop a dedicated Carbon Platform on the Astana International Exchange (AIX), where environmental financial instruments will trade alongside conventional offerings. This was disclosed by AIFC representatives on 13 November during the “Prospects for the development of green finance and environmental instruments” session held at COP29 in Baku.
During the session, organised by the financial centre, participants presented international standards and registries for voluntary carbon credit markets and renewable energy certificates, as well as platforms supporting the trading of these environmental assets.
“AIFC is building a Carbon Platform on AIX, where environmental instruments will be traded alongside conventional capital market offerings. These instruments will enable companies, not only from Kazakhstan but across the region, to attract additional investments for projects aimed at reducing greenhouse gas emissions, enhancing operational efficiency and improving environmental reporting,” stated Assel Nurakhmetova, Director of AIFC’s Carbon Platform and moderator of the session.
It should be noted that on September 4th this year, AIX added I-REC renewable energy certificates to its range of responsible finance products. The next phase will focus on expanding carbon credits trading. The platform for trading environmental instruments holds the potential to evolve into a regional hub for Central Asia and the Caucasus.
Other speakers at the session included Travis Caddy, Business Development Director of Evident, a leading global registry for renewable energy certificates; Andrew Howard, Senior Director of Climate Policy and Strategy at Verra, a prominent carbon credits standard; Yunus Sonmez, CEO of Turkey’s renewable energy certificates trading platform; Aliya Shalabekova, Director of Sustainable Development at KazMunaiGas and Baglana Musina, Chief Sustainability Officer at Freedom Holding Corp.
Reference
The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and a developed infrastructure for starting and doing business, attracting investment, creating jobs and developing Kazakhstan’s economy. www.aifc.kz
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