Sustainable development

For almost ten years, the Republic of Kazakhstan has been implementing a program to regulate greenhouse gas emissions. The emissions trading system, introduced in 2013-2014 as part of the implementation of the Kyoto Protocol, is gradually gaining momentum but is still far from perfect. The country’s leadership has set ambitious targets to reduce GHG emissions by 15-20% under the ratified Paris Agreement and to achieve carbon neutrality by 2060. We understand that it is impossible to achieve the stated targets only through the efforts of large industrial companies. However, existing regulations limit participants and do not allow everyone to purchase carbon units to offset their emissions. Meanwhile, globally, there is a deterioration in key climate indicators. Despite a temporary reduction in emissions due to the COVID-19 pandemic, carbon dioxide levels remain at record highs and continue to rise.

“Caspy Commodity Exchange” JSC being the first organized platform for CO2 emissions trading in the post-Soviet space, has been organizing secondary market trading of carbon units for eight years. In addition, since 2019, the company has been listed on the Kazakhstan Stock Exchange (KASE), which promotes the implementation of sustainable development principles and the disclosure of information in this area among its issuers. We understand that not only countries but also every company and individual worldwide must adopt plans to achieve net-zero emissions and take action as soon as possible to get on the right path towards this goal and implement measures to reduce emissions.

“Caspy Commodity Exchange” JSC as a company not included in the mandatory list of legal entities regulated by Kazakhstan’s legislation on emission limits, has decided to monitor emissions and achieve carbon neutrality in the shortest possible time. To this end, we have decided to conduct an annual inventory of direct and indirect emissions under Scopes 1, 2, and 3, and to implement measures to reduce emissions or, if reduction is not possible, to offset them with carbon units from voluntary markets. With this step, we aim to set an example for other companies in the country to follow our path and accelerate the processes of reducing carbon dioxide emissions from their activities.

Sincerely,

Erik Tanayev

President of “Caspy Commodity Exchange” JSC