BAKU, Azerbaijan, December 2. Tajikistan requires financing, collaborative initiatives to reform rules and regulations, and the diversification of mechanisms for extensive resource mobilization to transition to a green economy, UN Resident Coordinator for Tajikistan Parvathy Ramaswami told Trend in an exclusive interview.
"Tajikistan faces several challenges in transitioning to a green economy, particularly due to its heavy reliance on resource-intensive industries, such as agriculture, which often lacks sustainable practices. Limited access to financial resources and technology hampers the country’s ability to invest in green infrastructure, renewable energy, and climate-resilient agriculture," she said.
Ramaswami also noted that the lack of strong regulatory frameworks, public awareness, and capacity at the local and national levels makes it difficult to implement and enforce environmental policies and encourage widespread adoption of sustainable practices.
"The funding needed to achieve these goals is substantial and requires collective efforts to transform policies and regulations, as well as diversify the type of instruments needed to mobilize resources on a scale. In Tajikistan’s latest NDC, it is estimated that its climate change activities would require total funding of roughly 7 percent of Tajikistan's GDP. Thematic bonds have the potential to close this gap by mobilizing investment for the public and private sector for green and sustainability initiatives," the UN representative added.
She also pointed out that green, social, sustainability, and sustainability-linked (GSS+) bonds have emerged as critical instruments to help countries mobilize finance to achieve their Nationally Determined Contributions (NDCs).
"The Government of Tajikistan has prioritized climate mitigation and adaptation as one of the top priorities in its Strategy for the Development of the Green Economy for 2023-2037," Ramaswami said.