Freedom Holding Corp. planted saxaul as part of the Aral Sea ecosystem restoration project

Freedom Holding Corp. planted saxaul as part of USAID’s Aral Sea Ecosystem Restoration Project at Friendship Alley, an area located on the dried bed of the Aral Sea in Kyzylorda Oblast. The event, which marked the opening of a black saxaul nursery, was attended by the Deputy Akim of Kyzylorda Oblast Bakhyt Zhakhanov, Chief Executive Officer of Freedom Holding Corp. Timur Turlov and Deputy Director of the International Fund for Saving the Aral Sea in the Republic of Kazakhstan (IFAS) Zauresh Alimbetova.

The USAID regional project is a unique example of an oasis method of creating a green cover on the dried Aral Sea bed. Oasis growth points envisage the mandatory presence of fresh or brackish water sources, which will allow planting not only saxaul, but also other types of vegetation on this territory and organising sown pastures of fodder grasses, creating watering systems for wild and domestic animals.

An additional benefit of creating a «forest oasis» will be an increase in carbon sequestration by plants and soil, which will help mitigate the effects of climate change.

In 2023, Freedom Holding Corp. and USAID supported an IFAS project to pilot plant black saxaul on 150 hectares. In 2024, through the Freedom Shapaghat Special Charitable Fund and international donors, it is planned to support the planting of black saxaul on an additional 336 hectares, as well as the restoration of pastures on 1,000 hectares as part of a comprehensive Aral ecosystem restoration programme.

Also, with the support of Freedom Holding Corp. for the first time in Kazakhstan, IFAS and Qazaq Carbon are working on assessing opportunities for carbon certification, which will help address climate change and significantly reduce greenhouse gas emissions. This economic carbon mechanism will incentivise companies to offset and reduce harmful emissions and will help create a Kazakhstani carbon credit model that can be scaled throughout the country and in neighbouring countries. Carbon certification of saxaul plantations will provide ongoing income to maintain saxaul forests for at least 20 years, as well as plant maintenance and expansion of the planting area.

Timur Turlov, chief executive officer of Freedom Holding Corp:

«This year the chairmanship of the International Fund for Saving the Aral Sea passed to Kazakhstan. Our country will lead the organisation for the next three years. This is a great mission and responsibility, which we as a business realise and share, because only joint efforts can improve the condition of this unique water body. Such a task is feasible only with the consolidation of efforts of all member countries of the Fund, non-governmental organisations and us — the business community».

Bakhyt Zhakhanov, Deputy Akim of Kyzylorda Oblast:

«The USAID project shows that the oasis approach, which involves drilling a well to irrigate saxaul, can be effectively implemented on the Aral Sea. Therefore, this experience needs to be disseminated so that more oases will appear, forests will grow faster, animals will come to watering holes, birds will arrive, and biodiversity will appear. In 2022, saxaul planting was carried out on an area of 250 thousand hectares, in 2023 — on more than 193 thousand hectares. The work will continue, including with the support of such representatives of socially responsible business as Freedom Holding Corp.».

Zauresh Alimbetova, Deputy Director of IFAS in the Republic of Kazakhstan:

«Currently we are facing the challenge of planting efficiency. This can only be achieved through scientific and innovative approaches. At the USAID project site, which we named «Oasis», we are putting into practice progressive experimental methods of planting saxaul, which should help improve its rooting: creation of a nursery on the dried bottom of the Aral Sea, growing saxaul with a closed root system, drilling a well for irrigation. The agreement with Freedom Holding Corp. to support further sustainable management of the Oasis will certainly promote innovative approaches, planting efficiency and contribute to the restoration of the Aral Sea ecosystem».

The Aral ecosystem restoration project for Freedom Holding Corp. is a practical realisation of the ESG principles being implemented and commitments made as a signatory to the UN Global Compact (Sustainable Development Goal 13: Combat Climate Change).

Reference: Freedom Holding Corp. — is a holding company engaged in financial activities, retail brokerage, investment advisory, securities trading, investment banking and underwriting services through its Freedom subsidiaries. To date, the holding company’s common shares are traded on the Nasdaq Capital Market, KASE.