The document includes key 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 principles of state policy, including long-term goals, transparency, compliance with sectoral programs, social justice, inclusiveness, and scientific validity.
As part of the draft law, it is proposed to create a management system for climate initiatives, which will include an advisory body under the cabinet of ministers for coordinating and approving programs, as well as an authorized body for climate policy. It is also planned to involve local authorities and municipal services. New requirements for climate reporting are introduced, including a national inventory of greenhouse gas emissions, a registry of emissions and absorptions, as well as regular transparency reporting in accordance with the commitments under the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement.
The draft law also includes mechanisms for regulating emissions, such as emission standards, the use of carbon units, and the establishment of a quota trading system.
Regarding financing, it is proposed to implement climate budgeting, create a unified database of climate projects, and apply "green taxonomy" to attract investments. The development of climate insurance as a means of protecting against the economic consequences of adverse climate conditions is also discussed separately.
It is planned that the law will come into force on January 1, 2026, with the repeal of the 2007 law concerning the regulation of emissions and absorption of greenhouse gases. The cabinet of ministers is tasked with adapting its regulations within six months and reporting annually to the Jogorku Kenesh on the progress of implementing the new law.
