Astana International Exchange (AIX) is pleased to announce that I-REC (International Renewable Energy Certificate) renewable energy certificates have been added to the range of responsible finance products on AIX on September 4, 2024. Corresponding changes have been made to the AIX Business Rules.
I-REC represents 99% of the total voluntary market of renewable energy certificates in the world and is recognized in more than 50 countries. The I-REC certificate confirms that the energy was produced from renewable sources and corresponds to 1 MWh of clean electricity.
Evgenia Bogdanova, Head of Regulation and Compliance of AIX, commented:
“The launch of Environmental Instruments on AIX marks a significant step forward in integrating sustainability into the traditional financial markets. By adding products like I-REC certificates alongside our conventional capital market offerings, we help companies to meet their environmental goals while maintaining financial performance. This initiative supports our commitment to promoting sustainable development in line with global best practices. We warmly invite all interested stakeholders to join our new Environmental Instrument Market, and we plan to begin continuous trading in approved categories of environmental instruments together with our Members before the year end.”
Daniyar Kelbetov, Chief Product Officer, Member of the Management Board said:
“The launch of market mechanisms for environmental instruments such as carbon credits and I-REC certificates in the AIFC contributes to the development of a green economy by stimulating investments in renewable energy sources and innovative technologies that help conserve natural resources and improve the quality of life. Today, at the Astana Finance Days conference, we signed a memorandum with the Ecojer Association, an I-REC issuing organization in Kazakhstan. I-REC certificates will help companies reduce their carbon footprint, improve environmental reporting, and demonstrate their commitment to environmental responsibility.”
Advisory support for the admission and trading of the new asset class is provided by the Carbon Platform Department of the AIFC Administration.
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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. www.aix.kz
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started (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