Close cross-border cooperation and trade policy reform in Central Asia and its neighboring countries can reduce the carbon footprint of trade activities and value chains. It was started at a special session within the 57th Annual Meeting of the Asian Development Bank.
It is noted that the Central Asian region is facing the impacts of climate change. At the same time, trade contributed to significant economic growth and development. But it also led to an increase in carbon emissions.
According to the World Trade Organization, about 20-30 percent of global carbon dioxide emissions are related to trade and supply chains.
«CAREC states depend on trade and the use of fossil fuels. However, countries in this region have the potential to switch from fossil fuel use to opportunities arising from the energy transition. Harmonization of policies and standards under the ADB-supported Central Asia Regional Economic Cooperation Program can help increase trade. At the same time, it will make supply chains less carbon-intensive and more sustainable,» ADB Director General for Central and West Asia Eugene Zhukov said.
ADB believes that Central Asian countries need a regional approach to developing green standards. Coordinated regional policies on decarbonization and carbon pricing can lead to efficient use of regional resources, stronger economic integration, and increased technology transfer.
«With the support of development partners, CAREC is also working to scale up climate finance. This is helping to accelerate countries’ transition to clean energy and strengthen their resilience to the impacts of climate change,» Lyaziza Sabyrova, ADB’s Central and West Asia Regional Cooperation Division Manager, believes.
