A high-level meeting at COP29, co-organized by the COP29 Presidency, Ministry of Economy of Azerbaijan, UNECE and UNESCAP, saw the introduction of the SPECA Multi-Partner Trust Fund.
The high-level representatives of participating States of the United Nations Special Programme for the Economies of Central Asia (SPECA) signed the Baku Joint Ministerial Statement on the Establishment of the SPECA Climate and Innovation Dialogue, thus marking a new chapter in regional climate cooperation.
Representatives of Central Asia announced their intention to create a trust fund to support large “green” projects in the region last year.
“As a unique format of interaction for Central Asia, SPECA has great potential for impactful regional cooperation on trade and transport, energy and environment, digitalization, and many other key topics,” noted UNECE Executive Secretary Tatiana Molcean. “The SPECA Multi-Partner Trust Fund and the SPECA Climate and Innovation Dialogue will further advance partnerships and collective solutions to the shared challenges in the region.”
Currently, the SPECA member States are Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
The recently created SPECA Multilateral Trust Fund aims to facilitate economic cooperation in the SPECA region; create incentives for economic development and integration; and provide a platform for cooperation on transboundary and cross-border issues to support the achievement of the SDGs.
The Fund will financially support programmes implemented by participating UN organizations and their partners. These programmes will help address common economic development and regional integration challenges in the context of global trends, such as climate change, pollution, biodiversity loss, digitalization, the shifting structures of global supply chains and other issues, as well as the SPECA region’s specific needs.
The Fund is already open for contributions and is expected to be funded by voluntary contributions from SPECA member States, bilateral and multilateral donors and other partners.
The SPECA Climate and Innovation Dialogue is a public-private-academia platform that aims to facilitate and promote regional cooperation on climate action, green technology, and innovation. It marks a significant step in putting into practice the recommendations of the 2023 SPECA Economic Forum, which took place on 21-22 November 2023 in Baku, Azerbaijan.
Proposed by the Government of Azerbaijan, this project aims to drive progress in several important multisectoral areas, including long-term low-emission development strategies, nationally determined contributions, climate finance and energy transition. ///nCa, 15 November 2024