I-REC Renewable Energy Certificates Trading Launched on AIX
Astana International Exchange (AIX) has launched the trading of International Renewable Energy Certificates (I-REC).
The first transaction involved the purchase of 1,000 I-REC certificates by the London-based trading firm Valor Carbon from Kazakhstan’s renewable energy producer Samruk-Green Energy.
I-REC is one of the global leaders in the voluntary renewable energy certificate market, operating in over 50 countries. These certificates confirm that electricity has been generated from renewable sources. The certificates verified by ECOJER Association were added to AIX’s suite of sustainable finance products in September 2024, becoming the first environmental instruments on the exchange.
Assel Mukazhanova, CEO of AIX, stated: “Given the increasing interest in trading environmental instruments, AIX has expanded opportunities for its participants. We have obtained official accreditation to enable I-REC trading on our platform. Currently, fewer than ten companies worldwide hold this accreditation. This initiative is expected not only to boost interest in environmental instruments among our existing participants but also to attract new players to AIX.”
Daniyar Kelbetov, Chief Product Officer at AIFC Authority, emphasized:
“The launch of the I-REC trading platform reflects our commitment to sustainable and market-driven solutions for reducing the carbon footprint. Our centre will continue collaborating with leading international organisations to introduce additional environmental products, including carbon trading instruments. We believe that the development of the voluntary carbon market is one of the new directions that will enhance AIFC’s contribution to sustainable development in our region and facilitate integration with global markets.”
Almasbi Kamalov, Managing Director for Economics and Finance at Samruk-Energy, noted:
“Establishing a trading platform for I-REC green certificates is a logical progression in advancing the global environmental agenda within our country. The exchange-based trading mechanism for I-REC certificates will not only enhance transaction transparency but also positively impact the development of the energy sector. We highly appreciate AIFC’s contribution in advancing this initiative/to the development of this field.”
Dolkyn Islamov, CEO of Samruk-Green Energy, stated:
“Kazakhstan’s vast renewable energy potential will drive the growth of green finance and the trading of green certificates. Samruk-Green Energy is proud to be at the forefront of developing exchange-based trading for I-REC certificates, a pioneering financial instrument for Kazakhstan’s market.”
Nurzhan Aspandiyar, Director of Valor Carbon in Central Asia, added:
“Valor Carbon is an international company specialising in carbon markets and I-REC trading. We are delighted to be part of AIX’s pilot trading initiative, as this marks a crucial step in developing climate finance markets in the region. AIX is the first exchange in Kazakhstan to provide infrastructure for trading I-REC and other sustainable assets. We look forward to actively collaborating with AIX to expand the range of climate instruments and strengthen the integration of Kazakhstan’s I-REC market into the global trading ecosystem. This is not just a local initiative but a major step toward advancing the carbon credit market and sustainable financial mechanisms in Central Asia.”
Reference:
The Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment, offering developed infrastructure for starting and conducting business, attracting investment, creating jobs, and fostering economic growth in Kazakhstan. www.aifc.kz
