Tashkent, Uzbekistan (UzDaily.com) -- On 4 December this year, in the framework of the UN Conference of Parties on Climate Change (COP-28) held in Dubai, the delegation of the Ministry of Economy and Finance together with representatives of the World Bank held a meeting entitled "Climate Change in the Country" and presentation of the projects "Country Climate and Development Report - CCDR" and "Innovative Carbon Resource Application for Energy Transition Project - iCRAFT".

During the event, it was noted that the Country Climate Change and Development Report, developed jointly with the World Bank, which addresses climate change issues in implementing reforms in economic development, trade, food security, water and land resources, and poverty reduction, is very important.

The report also helps explore the relationship between climate change adaptation measures and achieving carbon neutrality and Uzbekistan's economic growth plans, and he also provides important recommendations in this direction, he emphasized.

The CCDR report covers important sectors of the country's economy, such as energy, agriculture, water, transport, and industry, and contains specific measures and recommendations for the country's development in the light of climate change.

Furthermore, the first international carbon finance and international trade in Central Asia under the World Bank's Paris Agreement were realized through the iCRAFT project executed by the Government of Uzbekistan with World Bank financial assistance.

The iCRAFT project is the World Bank's first global initiative to support energy reforms and aims to reduce greenhouse gas emissions through energy reforms. The project will help Uzbekistan fulfill its international commitments on climate change and efficiently use energy resources.

This project is the first international agreement in Central Asia to finance efforts to reduce greenhouse gas emissions through market mechanisms under the Paris Agreement, an international agreement aimed at limiting global warming by reducing emissions.

At the end of the event, members of the delegation of the Ministry of Economy and Finance, representatives of the World Bank, and visiting participants discussed climate and development problems, climate-related risks and opportunities for green economy, practical implementation of CCDR recommendations on responding to these problems. They reached an agreement on further development of cooperation.