ALL NEWS > Central Asia endorses climate-friendly ‘Energy Strategy 2030’
Central Asia endorses climate-friendly ‘Energy Strategy 2030’
The Central Asia Regional Economic Cooperation (CAREC) has endorsed the Energy Strategy 2030, a roadmap and set of regulations to help member states to improve energy security, sustainability and investments. CAREC is a partnership of 11 countries—Afghanistan, Azerbaijan, the PRC, Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan. Energy Strategy 2030 provides recommendations on how to increase investments and the adoption of green technologies over the next decade.
Central Asia requires up to $400 billion in investments to address energy poverty, meet growing energy demand as well as to modernise the infrastructure for utilities. The strategy will enhance cooperation amongst CAREC member states in managing and interconnecting energy systems. This will improve energy trading within the region.
The plan will accelerate private sector investments in the energy industry (for example in energy efficiency and renewable energy projects) as well as ensure vulnerable utilities are protected. As a result of the endorsement, the CAREC Green Energy Alliance will be created to co-finance climate mitigation projects. To date, renewable energy adoption is very low, amounting to 1% of the total energy capacity produced in the region.