UNFCCC COP28: Debt Swap for Climate Ambitions

Publication date: 03 December 2023

Dubai – UAE – The COP28 Central Asia Pavilion hosted the side event “Debt swap for transformation climate ambitions into reality” on December 3, 2023.

The event is organized by the Ministry of Natural Resources, Ecology and Technical Supervision of the Kyrgyz Republic together with the Regional Environmental Centre for Central Asia.

Kyrgyzstan is a mountainous state, with over 94% of its territory occupied by vulnerable and fragile mountain ecosystems that are more susceptible to the impacts of climate change than the global average. The climatic features of the mountains determine specific parameters for the functioning of natural ecosystems, create unique conditions for human habitation, and influence their health, lifestyle, and daily activities.

In Kyrgyzstan, the main factors of regression related to climate change have already begun to manifest themselves: increased water insecurity, increased risk of extreme meteorological events, destruction of ecosystems and increased threats to public health.

Being committed to combating climate change and accelerating the transition to climate resilient, low-carbon sustainable development models, Kyrgyzstan is currently in the process of formulating new policies for mitigation and adaptation to the changing conditions of climate, the environment, and green economy. Currently, the country updated NDCs, developed National Adaptation Plan and The Concept of Long-Term Carbon Neutrality Until 2050.

Long–term adaptation and mitigation goals will be strategically integrated into development plans and further invested, and will become a breakthrough in creating a triple benefit - a nation resistant to multiple crises, a green economy and sustainable development.

The total estimated cost of implementing motivational and adaptation measures of the Kyrgyz Republic is about 11.1 billion US dollars, of which 37% are own resources. External financial support aimed at implementing motivation and adaptation measures will have a positive transformational effect on the economy and contribute to global efforts to combat climate change.

Videorecording is available at  https://www.youtube.com/watch?v=4p1o_oVXXnI

Central Asia Pavilion “5 countries – 1 region – 1 voice” is organized by the Regional Environmental Centre for Central Asia (CAREC) in cooperation with the Governments of Central Asian countries under financial support of the GIZ, OSCE, the World Bank, USAID, the European Union, and the Food and Agriculture Organization of the United Nations (FAO).

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