National Committee on Ecology and Climate Change of the Republic of Uzbekistan

It should be noted that on 25 October 2023, the Cabinet of Ministers of the Republic of Uzbekistan adopted the Resolution “On Approval of the National Taxonomy of the Green Economy.” In accordance with this document, the classification of green projects financed through green bonds, loans, and other funding sources is being implemented on a pilot basis in line with the National Taxonomy of the Green Economy.

Furthermore, capital expenditures of all business entities benefiting from state financial support, including both public and private enterprises with state participation, are subject to classification under the National Taxonomy of the “Green” Economy. Such entities are required to submit relevant information to the authorized republican executive authorities.

The National Taxonomy of the Green Economy covers the following priority areas: — improvement of water and raw material efficiency; — enhancement of air and soil quality; — sustainable agriculture and forestry and eco-tourism; — green transport; — energy efficiency improvements; — renewable energy sources;

— green buildings. According to the Resolution, the National Taxonomy of the Green Economy is designed to reduce freshwater consumption by at least 30% for domestic and drinking purposes, by 20% for irrigation and by 40% for industrial and technical uses. It also promotes the reuse of treated wastewater, the implementation of smart automated monitoring systems, the recycling of at least 80% of collected secondary raw materials, and a minimum 20% reduction in greenhouse gas emissions, alongside other environmental performance requirements.

The green taxonomy facilitates the attraction of investment into environmentally sustainable projects, supports the development of green finance markets and enhances transparency for investors. For Uzbekistan, it represents a significant step forward in the transition toward a green economy, as well as in fulfilling national commitments on climate action and sustainable development.