Within the framework of the “Advancing programming and partnership framework with GCF and matching with country’s long-term low- carbon development strategies” Readiness Programme implemented by the “Environmental Projects Implementation Unit” State Institution of the Ministry of Environment of the RA with the support of the Green Climate Fund, an action plan for the implementation of green finance for 2025–2027 was developed.
As part of this process, the thematic workshop “Green Finance in Armenia: Regulatory Frameworks, Partnerships and Investment Prospects” took place with the participation of representatives from the Ministry of Environment of the RA, state bodies, financial institutions, the private sector and partner organizations.
During the workshop, Nona Budoyan, Head of the Climate Policy Department of the Ministry of Environment of the RA, led a panel discussion on “Shaping the Political and Regulatory Environment for Green Finance in Armenia.” She highlighted that the Government approved the draft Law “On Climate” along with the related legislative package, laying the legal foundation for introducing carbon regulation and market mechanisms.
According to Nona Budoyan, this approach is based on the idea of treating carbon as a market commodity. While regulatory instruments just set its price, market mechanisms define it through supply and demand. 
The planned legal and institutional changes will enable the introduction of mechanisms that encourage businesses to invest in technological modernization and reduce emissions. In turn, this will strengthen the competitiveness of the economy and increase Armenia’s attractiveness for green investments.