Bank CenterCredit became the first bank in Kazakhstan to acquire I-REC Certificates
Bank CenterCredit (BCC) has become the first bank in Kazakhstan to purchase International Renewable Energy Certificates (I-REC) on the Astana International Exchange (AIX). This move underscores the bank’s commitment to sustainability and contributes to the development of the sustainable finance market in Kazakhstan.
Asset Onglassov, Chief of Products, AIFC Authority, commented: “Bank CenterCredit’s acquisition of I-REC certificates through AIX sets a strong example of how financial institutions can drive the green transition in Kazakhstan. At AIFC, we are proud to support market-based mechanisms that promote transparency, sustainability, and long-term impact.”
Arnur Ibrayev, Head of Sustainable Development Division, CSO at BCC, commented: “The acquisition of I-REC certificates is a logical continuation of our strategy to reduce our carbon footprint and to integrate ESG principles into all the Bank’s processes. We view sustainability as an integral part of our responsibility to society and future generations.”
This initiative has enabled the Bank to increase its share of green energy in its electricity consumption structure to 16% in 2024. As a result, the assessment of greenhouse gas emissions under Scope 2 has decreased by more than 25% compared to 2023.
For reference, I-REC (International Renewable Energy Certificate) is a globally recognized instrument that certifies electricity has been generated from renewable sources. These certificates were introduced to the AIX sustainable finance product line in September 2024, becoming the AIX’s first environmental instrument. The first transaction involving I-RECs was completed in February 2025.
Background Information:
The Astana International Financial Centre (AIFC) is a leading financial hub in the Eastern Europe and Central Asia region, designed to connect global capital with the vast opportunities of emerging markets. Positioned at the crossroads of Europe and Asia, the AIFC combines international best practices with innovative approaches to create a world-class platform for investment, business, and financial services. Since its establishment in 2018, the AIFC has attracted over USD 14.8 bln in investments into Kazakhstan’s economy. Over 4,000 companies from 80+ countries, including the USA, the UK, China, Turkiye, the Republic of Korea, Singapore, and others, are registered within the AIFC’s jurisdiction. www.aifc.kz
Astana International Exchange (AIX) was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details: www.aix.kz
Bank CenterCredit JSC is a second-tier bank in Kazakhstan, established in 1988. With a broad network of branches across the country, the bank serves over 3 million individual and corporate clients. www.bcc.kz
