Close cross-border cooperation and trade policy reform in Central Asia and its neighboring countries could reduce the carbon footprint of trade and production chains. This was stated today at a special session during the 57th Annual Meeting of the Asian Development Bank.
The Central Asia region is facing the consequences of climate change. While trade has contributed to significant economic growth and development, it has also led to an increase in carbon emissions.
According to the World Trade Organization, approximately 20-30 percent of global carbon dioxide emissions are linked to trade and supply chains.
"The Central Asian Republics (CARs) depend on trade and the use of fossil fuels. However, countries in this region have the potential to transition from fossil fuel use to opportunities arising from energy transition. Harmonizing policies and standards within the supported ADB Central Asia Regional Economic Cooperation Program can help increase trade volumes. Simultaneously, this will make supply chains less carbon-intensive and more resilient," said Eugene Zhukov, ADB Director General for Central and West Asia.
The ADB believes that Central Asian countries need a regional approach to developing green standards. A coordinated regional policy on decarbonization and carbon pricing can lead to the efficient use of regional resources, strengthen economic integration, and enhance technology transfer.
"With the support of development partners, CARs are also working to increase climate financing. This helps accelerate countries' transition to clean energy and enhance their resilience to the impacts of climate change," believes Lyaziza Sabirova, Head of the ADB Regional Cooperation Department in Central and West Asia.
