Climate Finance - The Times Of Central Asia

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Aral Sea

Uzbekistan Announces $3.3 Billion in Aral Sea Projects

Uzbekistan has prepared 133 projects worth a combined $3.3 billion for its 2027–2029 chairmanship of the International Fund for Saving the Aral Sea (IFAS). The initiatives include upgrading water infrastructure and establishing a regional early warning system for floods and droughts. Uzbekistan plans to obtain financing from international development banks and climate funds. The $3.3 billion represents the estimated cost of the proposed projects, rather than funding already secured. Under a separate November 5 presidential resolution, Uzbekistan plans to plant forests across 50,000 hectares of the dried Aral Sea bed in Karakalpakstan, an autonomous republic of Uzbekistan heavily affected by the desiccation of the Aral Sea. Work is scheduled to begin on April 1, 2027. Planting trees and shrubs on the exposed seabed helps stabilize the soil and limit the spread of salt-laden dust. The five Central Asian countries established IFAS in 1993 in response to the Aral Sea crisis. The fund coordinates regional cooperation on water management and environmental protection across the Amu Darya and Syr Darya basins. The Aral Sea shrank dramatically after Soviet irrigation projects diverted water from its two main feeder rivers to agriculture, particularly cotton farming. The retreat devastated fishing communities and exposed a salt-covered seabed, creating dust storms that damage farmland and threaten public health. Some of these dust storms are so vast they are visible from space, carrying salt and agricultural chemical residues across the region. By 2007, the sea had lost approximately 90% of its original water volume. Uzbekistan will take over the fund's chairmanship from Kazakhstan in 2027. Its plans also include improving access to drinking water and establishing a shared database for the Amu Darya and Syr Darya river basins. Uzbekistan also hopes to generate revenue by selling carbon credits associated with carbon dioxide absorbed by the new vegetation. The resolution calls for talks with potential foreign partners and directs that net proceeds from carbon-credit sales, after project costs, go to Karakalpakstan's local budget. Separately, a study has suggested that restoring water cover over parts of the Aral Sea could prevent the release of up to 605 million metric tons of CO₂ from exposed sediments. Researchers estimated the potential value of those avoided emissions at $3.6 billion to $18 billion in carbon credits.

COP31

Opinion: What is on the agenda for Central Asia at COP31?

The 2026 United Nations Climate Change Conference, better known as COP31, is taking place in Antalya, Türkiye, from November 9 to 20. Delegations from almost 200 countries will participate in the event, including all the Central Asian republics, but Uzbekistan and Kazakhstan will play an outsize role in coordinating their messaging and ensuring the regional environmental agenda gets the time it needs in the spotlight. The buzzword for the C5 in Türkiye is “cooperation.” Kazakhstan’s Ministry of Ecology and Natural Resources will host a meeting for Central Asia’s five environmental ministers at its national pavilion to discuss regional cooperation and joint climate initiatives. Uzbekistan is committed to contributing to common positions on glacier retreat, water security, adaptation needs, and equitable access to climate finance through the multilateral Mountain Group and the Group of Landlocked Developing Countries (LLDCs). Turkmenistan will continue pushing for the formation of the Ashgabat Climate Dialogue as a new multilateral platform for promoting climate change initiatives. In line with its Mountain Agenda, the Kyrgyz Republic will be lobbying for support to establish the Global Mountain Resilience Center in Bishkek. Mobilizing affordable climate finance is critical for all the republics. According to the Climate Policy Initiative, global climate finance reached $2 trillion in 2024, against estimated annual mitigation finance needs of $7.8 trillion through 2030. In an interview with The Times of Central Asia, Aziz Abdukhakimov, Presidential Adviser on Environmental Issues and Chair of the National Committee on Ecology and Climate Change of the Republic of Uzbekistan, stated: “Access to adequate, predictable and affordable climate finance remains essential for developing countries to achieve their climate goals. For Uzbekistan, the implementation of our national climate commitments is estimated to require approximately $33.7 billion for mitigation and $15.7 billion for adaptation by 2030.” Closing, or at least narrowing, that gap requires building support among international financial institutions, multilateral development banks, development partners, and private investors. The GEF Council, meeting in Samarkand ahead of the Eighth GEF Assembly, endorsed a $3.9 billion replenishment package (GEF-9), demonstrating donor interest and tangible commitment to climate projects, including for a restoration project in the Chu and Talas river basins shared by Kazakhstan and Kyrgyzstan, and for a risk mitigation facility to attract private investment into Uzbekistan’s renewable energy sector. But there is hope that commitments at COP31 will go further. In September 2026, during Climate Week NYC, President-Designate Murat Kurum announced that Uzbekistan would be one of the first five pilot countries to receive support under the Climate Implementation Bridge (BRIDGE), the flagship initiative of COP31. This represents an important opportunity to translate national climate priorities into investment-ready projects and facilitate access to international financing. In his interview, Abdukhakimov stated that Uzbekistan’s focus will be “mobilizing investment in renewable energy, energy efficiency, climate-resilient infrastructure, sustainable water management, agriculture and ecosystem restoration.” At the same time, Kazakhstan will be presenting its plans to establish a national climate investment platform, plus a framework partnership program for developing the circular economy across Central Asia. Tajikistan will be...

Climate policy

Kyrgyzstan Adopts Central Asia’s First Framework Climate Law

President Sadyr Japarov signed Kyrgyzstan’s Law on Climate Activity on July 7, giving the country Central Asia’s first framework statute devoted to climate policy. The Jogorku Kenesh (parliament) approved the measure on May 20, and it takes effect on January 1, 2027. The Cabinet has six months from official publication to bring existing regulations into line. The law puts emissions policy and climate adaptation under one legal structure. It covers climate finance, carbon neutrality, research, professional training and technology transfer. It also provides a legal base for carbon units and a national registry. Separate rules will govern how emission cuts are recorded and verified. UNDP gave technical and expert support during its preparation. The regional first refers to the breadth of the framework. Uzbekistan passed a law on limiting greenhouse gas emissions in July 2025, and Kazakhstan already regulates carbon inventories, quotas and emissions trading through its Environmental Code. Kyrgyzstan has now put mitigation and adaptation in one dedicated statute, with provisions for finance and institutional duties. The law replaces a narrower statute adopted in 2007. That measure governed greenhouse gas emissions and removals, with a focus on state regulation, inventories and monitoring. It did not create a full legal base for adaptation or climate finance, and lacked the new law’s provisions on climate technology and education. MP Zhyldyz Egenberdieva set out the case for reform at a parliamentary committee meeting in April. The existing law “does not reflect current realities or practice,” she said. The new statute gives public bodies a basis for climate policy and low-carbon development plans. It also brings resilience measures into the same system. Kyrgyzstan signed the Paris Agreement in September 2016 and ratified it on February 18, 2020. Japarov announced a 2050 carbon-neutrality goal at COP26 in Glasgow in 2021. The Cabinet approved a national carbon-neutrality concept in July 2025. The Coordination Council then approved updated climate targets and the country’s first biennial transparency report in September 2025. The law turns those international pledges and policy documents into a domestic framework. It defines state responsibilities and creates a base for climate finance. The practical detail will come through regulations, including standards for carbon accounting and the operation of a registry. The statute arrives as glacier loss puts pressure on water, farming and electricity supply. Mountain ice feeds rivers used for drinking water and irrigation. The same flows feed the country’s hydropower plants. At COP29 in Baku in November 2024, Japarov gave a stark figure. “Over the past 70 years, the area of glaciers in Kyrgyzstan has shrunk by 16%,” he said. TCA has previously reported on how continued glacier retreat could reduce river flows and deepen water shortages. Hydropower provides about 90% of Kyrgyzstan’s electricity, meaning drought and erratic runoff can cut generation when demand peaks. Floods and mudslides can damage roads and canals, as well as homes and crops. The law now makes adaptation a formal part of national climate policy. Coal-fired heating and traffic drive much of Bishkek’s severe winter smog. Vehicles...

Water Management

Tajikistan’s Electricity Losses Add Pressure to Water and Climate Agenda

Tajikistan’s aging power grid has become part of the country’s water and climate policy. The issue returned to the agenda of European Union-Tajikistan cooperation on July 3, when the two sides held a development cooperation meeting in Dushanbe. Energy and water were included in the Global Gateway agenda, while other talks addressed transport and energy infrastructure, the digital economy, water-resource management, and strategic raw materials. Tajikistan gets nearly 98% of its electricity from hydropower. That gives the country a low-carbon power mix, while tying electricity supply to river flows, snowmelt, reservoirs, and glacier change. Losses in the power system add pressure to that link. Each kilowatt-hour lost in transmission or distribution must still be generated. In Tajikistan, that usually means more water passing through hydropower plants or imported electricity when reservoir levels are low. The European Bank for Reconstruction and Development (EBRD) has focused on concessional funding for loss-reduction projects. After a May meeting between Energy Minister Daler Juma and Holger Wiefel, the EBRD’s head in Tajikistan, the energy ministry put the aim plainly: “The sides discussed attracting concessional financing for projects aimed at reducing electricity losses and improving the efficiency of the country’s energy system.” Officials also discussed private investment. Hydropower plants in the Zarafshan basin and solar plants were discussed as well. No new financing has been announced from those discussions. The immediate context is an existing EBRD- and EU-backed program for the distribution network. The Times of Central Asia previously reported in April that Tajikistan would receive nearly €49.6 million from the EBRD to reduce electricity losses. The package combines a €28 million loan with grants and technical assistance for work in nine branches of the distribution network in Sughd and Khatlon. First Deputy Finance Minister Yusuf Majidi said the project would reduce energy losses, replace worn-out infrastructure, install modern meters, and improve billing and revenue collection. The EBRD project file gives the total project cost as €43 million. It includes up to €28 million in EBRD financing and a €15 million EU co-investment grant through the Asia Pacific Investment Facility. The project targets automatic billing and metering systems in nine networks of the Bokhtar, Kulob, and Guliston branches of Shabakahoi Taqsimoti Barq. The bank says the project is aimed at reducing high inefficiency and technical losses in Tajikistan’s power distribution network. Distribution losses fell from 19.2% in 2024 to 15.6% in 2025. Even after that fall, more than 3.1 billion kWh were lost in 2025. Officials linked the reduction to smart meters and digital metering. President Emomali Rahmon put the issue in direct terms in a late 2023 parliamentary address. “Our electricity losses are about 4 billion kWh,” he said, adding: “If we prevent this, then there will be enough electricity for everyone.” That comment predates the 2025 improvement, but it still explains why loss reduction has become part of the environmental case for energy-sector financing. Cutting losses can free up electricity without new generation and reduce pressure on winter imports and hydropower reservoirs. Reuters reported...

Eco Expo

Eco Expo Opens in Samarkand as Uzbekistan Pushes Green Investment

Eco Expo Central Asia 2026 opened on June 2 at the Expo Center of Silk Road Samarkand, placing Uzbekistan’s green economy plans before officials, lenders, companies, scientists, and environmental groups already gathered in the city. The exhibition is scheduled to run through June 4 and is being held alongside the Eighth Assembly of the Global Environment Facility, one of the main global forums for environmental finance. The timing gives Uzbekistan a rare week of attention on climate, water, biodiversity, and clean technology. The GEF Assembly runs from May 30 to June 6 in Samarkand. The GEF says its Assembly is its highest governing body, made up of 186 member countries, and meets once every four years. GEF Council meetings are scheduled from May 31 to June 3, before the formal Assembly sessions later in the week. Eco Expo has a more practical focus. Its exhibition sections include protected natural areas, clean technology, green construction, transport, and energy, sustainable agriculture, green finance and green cities, ecotourism, water-saving technologies, environmental education, artificial intelligence in ecology, and the Aral Sea region. The business program includes lectures, seminars, panels, and roundtables for registered visitors. Uzbekistan’s state news agency UzA has said that approximately 10,000 participants from Uzbekistan and abroad are expected. The exhibition will include more than 68 pavilions for environmental products, plus 20 pavilions for startup projects from Central Asian countries. Organizers also plan more than 50 forums, presentations, and discussion platforms on green energy, waste recycling, water resource management, and sustainable development. The exhibition - organized by Uzbekistan’s National Committee on Ecology and Climate Change with Business Congress Management - is designed to turn local environmental plans into fundable projects. Regions and districts across Uzbekistan have prepared proposals for donors and investors, covering climate adaptation, better use of natural resources, and practical steps to make local economies more resilient. For Uzbekistan, the meetings are a chance to move from broad pledges to project lists, budgets, and partners. Farms need more efficient irrigation; cities need cleaner transport and better waste systems; protected areas need long-term funding. The expo brings those needs into one room with development banks, UN agencies, foreign governments, and companies looking for green projects. The GEF meetings bring the process closer to the expo floor. The fund says it has provided more than $26 billion in financing over three decades, and has helped mobilize another $148 billion for country-led environmental projects. In Samarkand, the 71st GEF Council meeting opened ahead of the Assembly and Eco Expo. Its agenda includes biodiversity protection, sustainable infrastructure, renewable energy, energy storage, the GEF-9 programming strategy, and support for vulnerable countries. Uzbekistan already has a working portfolio with the GEF, which includes 13 projects worth $56 million and five more projects worth more than $30 million in the pipeline. The projects cover biodiversity, snow leopard protection, restoration of ecosystems in the Aral Sea region, climate resilience, land management, and waste management. The week arrives as Uzbekistan faces rising climate stress. The World Bank has described...

Energy Transition

Kazakhstan Launches QaJET Investment Platform for Just Energy Transition

Kazakhstan has announced the launch of the QaJET (Just Energy Transition) investment platform, supported by the European Bank for Reconstruction and Development (EBRD), to attract international financing and accelerate the decarbonization of its economy. A corresponding memorandum was signed on April 23 during the Regional Environmental Summit in Astana. Signatories included Energy Minister Yerlan Akkenzhenov, Minister of Ecology and Natural Resources Yerlan Nysanbayev, and EBRD Managing Director for Central Asia and Mongolia Hüseyin Özhan. The QaJET platform reflects Kazakhstan’s ambition to accelerate the transition to clean energy through a large-scale expansion of renewable energy capacity. According to current plans, the country aims to commission 10 GW of new green capacity by 2035. According to EBRD estimates, achieving these targets will require approximately $20 billion in investment from both public and private sources. This is expected to reduce greenhouse gas emissions by more than 20 million tonnes annually, equivalent to roughly 7% of the country’s energy-related emissions. The creation of the platform is of strategic importance for Kazakhstan, whose economy remains highly carbon-intensive and heavily dependent on coal-fired power generation. At the request of the Kazakh government, the EBRD participated in developing the QaJET concept and will continue to coordinate its implementation with national and international partners. The platform is also intended to support Kazakhstan’s international climate commitments, including achieving carbon neutrality by 2060 and reducing greenhouse gas emissions by up to 25% by 2030 compared to 1990 levels. QaJET is expected not only to reduce emissions but also to strengthen energy security, enhance economic competitiveness, and promote the development of local high-tech manufacturing in the renewable energy sector. Key areas of cooperation within the platform include expanding renewable energy capacity, modernizing power grids and energy storage systems, electrifying businesses and households, and supporting a just transition, technology transfer, and the development of research and innovation capacity. Authorities expect QaJET to become the central mechanism for coordinating climate finance, bringing together international financial institutions, donors, private investors, and the government to accelerate Kazakhstan’s energy transition.