The draft clarifies important terms and tools related to climate policy, such as adaptation, mitigation, greenhouse gas emissions accounting, data verification, climate financing, and technologies. It also outlines the key principles of state policy, including long-term planning, transparency, alignment with sectoral programs, social justice, inclusivity, and scientific justification.
The bill proposes the creation of an institutional system for managing climate initiatives, including an advisory body under the government to coordinate programs, reports, and plans, as well as an authorized body for climate policy. An important aspect is the involvement of local administrations and local self-government bodies. Furthermore, the document introduces requirements for climate reporting, including a national inventory of greenhouse gas emissions, a state cadastre of emissions and absorptions, biennial transparency reports, and other documents that comply with obligations under the UN Framework Convention on Climate Change and the Paris Agreement.
Additionally, the draft includes mechanisms for regulating emissions, such as emission standards, the use of carbon units, and the development of a quota trading system.
Regarding financing, the implementation of climate budgeting is proposed, along with the creation of a unified database of climate projects and the application of "green taxonomy" to attract investments. A separate chapter discusses the development of climate insurance as a means of protection against the economic consequences of adverse climatic events.
According to the draft, the law is planned to come into effect on January 1, 2026, simultaneously repealing the 2007 law regulating greenhouse gas emissions and absorptions. The Cabinet of Ministers is tasked with aligning its regulations with the new law within six months and reporting annually to the Jogorku Kenesh on its implementation.
