Climate Capacity, Innovation and Financing: Needs and Opportunities

Publication date: 28 May 2024

Climate change and adaptation are not just the responsibility of environmentalists, scientists, biologists and environmental ministries.

It is impossible to adapt to climate consequences and solve climate challenges without finances, otherwise, all smart and innovative strategies will remain on paper. The financial resources available to the countries of Central Asia to solve climate problems were discussed at the panel session of CACCC-2024 “Climate Capacity, Innovation and Financing: Needs and Opportunities.”

Representatives of the Central Asian countries provided information on the necessary climate potential of governments, in particular, ministries of finance, economy and other agencies responsible for energy, biodiversity, land and water management in Central Asian countries.

Asel Madybaeva, Deputy Director of the Climate Finance Center under the Cabinet of Ministers of the Kyrgyz Republic, noted that countries need to analyze the regulatory, and institutional environment, work out market mechanisms and innovative tools (green climate bonds, carbon pricing, etc.) to attract not only international investment, but investment from the private sector. 

Zafar Makhmudov, Executive Director of the Regional Environmental Centre for Central Asia (CAREC), highlighted three key aspects of the panel session:

- Climate capacity. Efficient use of natural and human resources to combat climate change and adapt to its impacts.

- Innovation. Technological advances and scientific research to overcome climate challenges: advanced developments in renewable energy, energy efficiency, and other green technologies that can make the Central Asian region more sustainable.

- Financing. Various financial instruments and mechanisms, including public and private financing, carbon markets, international assistance and investments needed to implement climate projects.

The Central Asia Climate Change Conference (CACCC-2024) is organized by the Regional Environmental Centre for Central Asia (CAREC) within the “Climate Adaptation and Mitigation Program in the Aral Sea Basin AF” (CAMP4ASB AF), Central Asia Water and Energy Program (CAWEP), and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, in cooperation with The Global Partnership for Sustainable and Resilient Landscapes (PROGREEN), NDC Partnership (NDCP), Coalition for Capacity on Climate Action (C3A), Asia Development Bank (ADB), Asia Development Institute (ADBI), International Organization for Migration (IOM), International Federation of Red Cross and Red Crescent Societies (IFRC), SWITCH-Asia— a programme funded by the European Union, the Kazakh-German University (DKU), Green Academy along with valuable support provided from other partners.

The CAMP4ASB AF project is implemented by CAREC together with EC IFAS with the financial support of the World Bank and the Green Climate Fund.

The Central Asia Water and Energy Program (CAWEP) is a partnership between the World Bank, the European Union, Switzerland, and the United Kingdom aimed at creating conditions for improving water and energy security at the regional level and in beneficiary countries in a changing climate.

For more information, please contact Irina Bekmirzaeva, Climate Change and Sustainable Energy Programme Manager/CAMP4ASB Project Coordinator, at   

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