BAKU, Azerbaijan, November 5. The Climate Change Action Plan for the Central Asia Regional Economic Cooperation (CAREC) countries will be submitted for approval at the upcoming 23rd Ministerial Conference in Kazakhstan’s Astana on November 8, 2024, Trend reports.
The Asian Development Bank (ADB) states that this plan aims to prioritize projects and initiatives focused on climate adaptation and mitigation in CAREC regions. It also seeks to enhance coordination among development partners to increase and optimize resources supporting regional climate actions.
"The proposed areas of intervention include climate risks, preparedness, and health; the interconnection of water supply, energy, and food security; sustainable low-carbon growth, including the decarbonization of CAREC transport and trade corridors; and the CAREC Climate Platform, focusing on financing and capacity development," the bank noted.
The ADB emphasizes that CAREC, as a regional cooperation platform, can play a crucial role in advancing the regional climate agenda through various actions.
"These include fostering high-level political dialogue to assist countries in developing regional approaches and aligning existing plans with international commitments under the Paris Agreement and Sustainable Development Goals. Priorities involve integrating climate objectives into sectoral strategies and strengthening intersectoral links across transportation, energy, agriculture, and health.
Moreover, promoting knowledge exchange and best practices among CAREC countries, digitalizing customs procedures with modern technologies (such as artificial intelligence and blockchain), and transit initiatives like the CAREC Advanced Transit System (CATS) are essential for reducing carbon emissions. Global value chains can support emission reductions through innovations and the exchange of green products. Understanding the impacts of interventions and sharing experiences will be key to scaling initiatives and effectively designing new projects that support climate goals.
CAREC can also conduct research to identify effective interventions, including cost-benefit analyses of measures to facilitate eco-friendly trade. Additionally, mobilizing financial resources and developing innovative financial instruments for regional climate programs and projects will require coordination and collaboration among development partners and the private sector to pool resources and share knowledge in implementing climate-focused programs," the bank notes.
To note, CAREC is an initiative aimed at fostering economic cooperation and integration in Central Asia, bringing together countries such as Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, and Mongolia, along with other partner nations.