UNFCCC COP-28: Blue Peace Central Asia Initiative discusses investment opportunities in Nexus projects
Dubai, UAE – On December 5, 2023, a side event on the topic «Exploring Pathways to Investments in Nexus Projects for Enhanced Transboundary Cooperation in Central Asia» was held at the Central Asia Pavilion at the 28th Conference of the Parties (COP-28) to the United Nations Framework Convention on Climate Change (UNFCCC). The side event was organized by the Regional Environmental Centre for Central Asia (CAREC) within the framework of the Blue Peace Central Asia initiative, funded by the Swiss Agency for Development and Cooperation (SDC).
The side event discussed opportunities for Central Asian countries to implement transboundary basin programs, potential strategies for attracting the requisite investments and efficiently managing them within the context of transboundary basins.
«Adopting a Nexus approach is recognized as essential to achieving the 2030 Agenda for Sustainable Development. Identifying and coordinating cross-sectoral projects requires dialogue between the water, energy and food sectors, understanding the financing of Nexus projects in practice, as well as addressing the economic benefits of investing in such projects. That is why we are here today», said Hanna Capede, Regional Head of Sustainable Development and International Cooperation, Embassy of Switzerland.
The participants stressed the need to combine the efforts of International Fund for Saving the Aral Sea (IFAS) and national ministries of Central Asian countries applying the Nexus approach, as well as representatives of other regions with experience in attracting investments in multisectoral projects.
«Nexus is an intersectoral approach that requires cooperation not only between sectors, but also between countries and regions. The transition to this approach at the regional level, as well as using the experience of other regions, will help us achieve success in ensuring water, energy, food and ecosystem security in Central Asia», said Zafar Makhmudov, Executive Director of CAREC.
Discussing the application of the Nexus approach at the regional level, the speakers of the side event came to a common conclusion about attracting the private sector to invest in Nexus projects in the region, as well as the importance of strong regional institutions.
«The climate change situation in Central Asia, the emergence of new players and new projects makes us think about the importance of having strong regional institutions. It is strong regional institutions that attract investments to the region», said Sulton Rakhimzoda, Chairman of the Executive Committee of the International Fund for Saving the Aral Sea (EC IFAS).
The side event also became a platform for presenting the experience of international organizations and financial institutions in promoting the Nexus approach in the region. Thus, the experience of EC IFAS, United Nations Economic Commission for Europe (UNECE), Organization for Economic Co-operation and Development (OECD), Global Environment Facility (GEF), Adaptation Fund, Scientific-Information Center of the Interstate Commission for Water Coordinatiom in Central Asia (SIC ICWC), etc. was presented.
Additional information:
Ludmila Kiktenko, Program Manager, Environmental Management Program, CAREC, lkiktenko@carececo.org
Tais Reznikova, Manager of the Blue Peace Central Asia Dialogue Platform, Water Initiatives Support Program, CAREC, treznikova@carececo.org
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