Uzbekistan steps up green economy policy: International conference discusses sustainable finance and ESG standards

TASHKENT, Uzbekistan ()-An international scientific and practical conference on "Sustainable Finance: the role of the banking and Financial system in the development of a green economy"was held in Tashkent on the basis of the Banking and Finance Academy. The event brought together leading experts from Uzbekistan and other countries to discuss current challenges related to climate change, natural resource scarcity, and the need to implement an environmentally responsible approach to economic policy.

The conference was attended by members of the Senate and deputies of the Legislative Chamber of the Oliy Majlis, as well as representatives of the academic and professional community from Great Britain, Russia, South Korea, India, South Africa and other countries. Among the participants are reputable professors, economists, financiers, experts in the field of sustainable development and international investment.

The key focus of the event was on strengthening the relationship between national legislation, the investment climate, the educational system and scientific research in the field of "green economy". Participants emphasized the need to create an effective regulatory framework and implement national ESG standards — environmental, social and corporate governance-as a basis for sustainable financing and modernization of the country's financial system.

Separately discussed were the challenges of expanding the range of "green finance" instruments, including issuing green bonds, introducing climate and transition financial products, stimulating green investments, and actively involving the banking sector in environmental initiatives. An important topic was the training of professional personnel capable of implementing the principles of sustainability in the practice of financial institutions.

Uzbekistan, according to the participants, demonstrates a steady tendency to move from declarative support of eco-manifestos to its practical implementation. The development of the" green economy " in the country is accompanied by comprehensive reforms, including environmental regulation, support for research projects, modernization of transport infrastructure and digitalization of financial services.

The conference presented reports and analytical materials in the following areas::

• prospects for climate and transition finance;
• the state of sustainable finance on a global scale;
• features of "green banking" in developing countries on the example of Uzbekistan;
• mechanisms to encourage green investment;
• the role of financial institutions in ensuring an environmentally sustainable future.

The plenary sessions were devoted to discussing international practices in the field of ESG, development of green financial products, environmental reporting and mechanisms for raising capital for the implementation of environmental projects. They also discussed the digitalization of banking processes, the development of sustainable transport, increasing the transparency of financial flows and strengthening public control in the field of ecology.

The main goal of the conference was not only to discuss current challenges and opportunities, but also to develop practical proposals for adapting successful international experience to national conditions. At the end of the event, active participants were awarded with letters of thanks, certificates and souvenirs.