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Workshop on Green Finance

Advancing South-South Cooperation on Green Finance in Central Asia

From 2 to 5 September, Kyrgyzstan hosted a workshop with the aim to strengthen regional and bilateral cooperation on green finance. The workshop brought together senior government experts from Kazakhstan, Mongolia, Kyrgyzstan, and Uzbekistan as well as representative from PAGE and BIOFIN.

The workshop participants shared their achievements and challenges, discussed prospects for co-operation and outlined further steps to promote green finance and sustainable development. They discussed various green finance themes such as green and circular economy, aligning subsidies with national SDG priorities, green taxonomy, sustainable finance, green and social standards, safeguards, disclosures, and environmental policies and identified actionable steps to advance green finance in line with both national and global environmental commitments.

 

Objectives

The event aimed to:

  • Strengthen regional and bilateral government to-government cooperation on Green Finance for greater country impact through a just transition to sustainable development.
  • Exchange insights, ideas, innovations, and solutions on various inclusive green finance themes for scaling up within and across countries in the region and beyond.
  • Identify next step options for advancing one or more green finance workstreams in each participating country in line with country NDCs, NBSAPs, NBFPs, INFFs, and the 2030 Agenda, Paris Agreement, Global Biodiversity Framework, and UNCCD LDN targets.
  • Advance green and circular economy country priorities supported by PAGE, BIOFIN, and linked initiatives including through country workplans for 2025-2027.

PAGE and BIOFIN

This regional workshop was facilitated by PAGE in collaboration with BIOFIN.

The Biodiversity Finance Initiative (BIOFIN) was initiated ten years ago in response to the urgent global need to divert more finance from all possible sources towards global and national biodiversity goals, as highlighted during the 2010 CBD COP 10 in Nagoya.

Since 2013, the Partnership for Action on Green Economy (PAGE) has become a prominent alliance of five UN agencies – UNEP, ILO, UNDP, UNIDO and UNITAR– funding partners, and partner countries that work together to transform economies into drivers of sustainability.

UNDP is the leading agency of PAGE in the country. Thanks to PAGE support, the country reflected Inclusive Green Economy into its long-term Strategy till 2040, mid-term national programme till 2026 and developed and adopted the first national Green Economy Programme for 2019-2023.

In 2022, PAGE had supported South-to-South Cooperation between Mongolia and Kyrgyz Republic, enabling finance sector and government representatives to bring knowledge of mobilizing green finance for sustainable development and replicate it in the context of the Kyrgyz Republic.

Source: PAGE, BIOFIN, UNDP Mongolia

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