This EU-funded project aims at assisting the Central Asian countries in the fulfillment of their obligations in respect to the UNFCCC and Kyoto protocol. It is one of the first Kyoto protocol related projects financed by multi-lateral donors (other than USAid and CIDA). In view of the recent decision by Russia to proceed with the ratification of Kyoto protocol, the importance of setting up of appropriate structures to comply with the protocol and benefit from the investment opportunities related to carbon trading is higher than ever.

SOFRECO, a French company, is the leader of the consortium implementing the project. SOFRECO joined for this project with IIASA (Austria), University of Tuscia (Italy), Agrotec (Italy) and Natsource (UK), top European companies covering all aspects of climate change issues: energy, agriculture, carbon sinks, carbon credits trading, institutional strengthening etc.

The Consortium led by SOFRECO intends to assist in sustainable economic growth of Central Asian Republics while making real reductions in greenhouse gases emissions by:

• Strengthening institutions and developing policies necessary for governments of Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan to meet their international commitments on global climate change, through the creation of structures to administer national climate change programs and the establishment of market mechanisms (JI and CDM) to reduce GHG emissions
• Increasing environmental management capacity to reduce GHG emissions in the public and private sectors and to stimulate investments in and financing for environmental technologies and programs
• Increasing the involvement of non-governmental actors (e.g. industry, environmental groups, the public) in the development and implementation of climate change policies and programs in the Central Asian Republics.

The cornerstone of the program is to be he creation of an institutional structure in all five countries bringing together the key piayers to discuss and eventually establish rules and procedures for flexible market mechanisms that promote greenhouse gas emissions reductions.

The challenge of this 30-month project lies in the variety of issues to be covered and in specific country challenges. The work will be carried out by five national offices, with the input and monitoring from international experts.

Additional information about the project you may find at www.sofreco.com