UK–Turkmenistan Climate Finance Forum Held in Ashgabat

Ashgabat, March 3, 2026 — The conference hall of the Yyldyz Hotel hosted a landmark event for the country’s environmental agenda: the “UK–Turkmenistan: Building a Strategic Framework for Mobilising Climate Finance” forum.The event brought together representatives from line ministries, private companies, international financial institutions, UK experts, and civil society leaders to address a critical question: how to transform climate challenges into opportunities for green economic growth.The forum was opened by Perhat Yagshiyev, Deputy Minister of Finance and Economy of Turkmenistan; Ms. Claire Albless, Deputy Head of Mission at the British Embassy in Turkmenistan; and Ms. Chika Muora, Deputy Director for Eurasia, Middle East, and Africa and Co-head of International Climate Finance at TheCityUK. In their opening remarks, they emphasized a shared objective: creating sustainable financing mechanisms to help Turkmenistan achieve its national climate priorities.

British experts, including representatives from ITMO Ltd. and TheCityUK, shared unique insights into building a sustainable finance ecosystem. Key focus areas included:Legislative Frameworks: Experience in implementing the Climate Change Act and achieving the 2050 Net Zero target.Transparency: Sustainability reporting standards (TCFD, ISSB) that ensure projects are transparent and attractive to international investors.

The keynote session was led by Mr. Michael Matres, Co-founder and Marketing Director of ITMO Ltd. (UK). He detailed the significance of climate finance for Turkmenistan and outlined the evolution of the UK ecosystem—from carbon budgets to global trends in emissions reduction.Institutional development was addressed by Mr. Ruslan Sadgalin, Senior Manager at Ernst & Young Advisory (EY), who presented the core elements of a sustainable finance system, emphasizing accountability and the role of public policy in attracting investment.In the second half of the forum, experts shifted to practical applications. Ms. Bianca Barilla (CDP UK), joining virtually, collaborated with Mr. Michael Matres to discuss creating an investor-friendly environment, risk distribution, and building a pipeline of bankable projects. A vital part of the dialogue focused on Public-Private Partnerships (PPP).

Mr. John Murton, Senior Sustainability Advisor at Standard Chartered Bank, shared international blended finance models most relevant to emerging markets and climate infrastructure.

Mr. Vladimir Valetka, Chief Economist at the UN Resident Coordinator’s Office, identified Turkmenistan’s high-potential sectors for climate investment:

Methane emission reduction;Renewable energy development;

Climate-resilient agriculture and water efficiency.

For civil society organizations, the forum served as a platform to understand how British mechanisms—such as Carbon Budgets and the Climate Change Committee—can be integrated within Turkmenistan to verify ongoing activities and analyze progress.

“Participation in such forums allows us not only to stay abreast of global trends but also to adapt advanced financial tools for the protection of our region’s ecosystems. The active involvement of civil society organizations in national climate action mechanisms is undoubtedly essential for achieving desired outcomes,” noted Berkeli Atayev, Director of PAE “Tebigy Kuwwat” and representative of the Aarhus Centre in Turkmenistan.

The forum concluded with the development of recommendations for a national sustainable finance system. Participants reached a consensus that the synergy between government regulation, UK international expertise, and civil society engagement will serve as a solid foundation for Turkmenistan’s green transformation.

Berkeli Atayev.