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Participants at the summit of the Organisation of Turkic States (OTS) in Bishkek signed a memorandum to establish a council on green finance, as reported by the press service of the International Financial Center Astana.
This Council will focus on implementing green finance instruments and attracting international investments in projects to mitigate environmental impacts. Additionally, it will contribute to the development of government policies.
The new entity will also provide advisory services to companies and organisations from OTS countries regarding ESG (environmental, social, and corporate governance) reporting. This includes conducting training seminars, forums, and conferences.
The organisation aims to create a unified portfolio of green finance instruments for Central Asian nations, strengthening the region’s collaboration with international financial institutions, such as the Asian Development Bank, the European Bank for Reconstruction and Development, and the Asian Infrastructure Investment Bank.
Green finance encompasses various initiatives, including soft loans for environmental projects, subsidies, mortgages for energy-efficient housing, and the development of a carbon market. One of the commonly used instruments in this sector is green bonds.
Kursiv Uzbekistan also reports about evaluations of the potential for alternative energy in Karakalpakstan.
