Uzbekistan Introduces National “Green” Economy Classification System
Uzbekistan Introduces National “Green” Economy Classification System
Uzbekistan introduced a new "green" economic classification system. Cabinet of Ministers Resolution No. 561, dated October 25, 2023, approved the national "green" economy taxonomy. The aim is to categorize "green" activities in line with Uzbekistan's plan for a "green" economy until 2030, ensuring eco-friendly growth.
This document established the National "green" economy taxonomy. It assesses compliance criteria for different types of "green" economic activities. The Ministry of Economy and Finance will oversee and coordinate its implementation.
By October 1, 2024, the classification of "green" projects funded by "green" bonds, loans, and other sources will be experimentally conducted using this taxonomy. Moreover, all businesses receiving state financial support will categorize their investment costs according to this system.
The "green" project taxonomy classifies economic activities, projects, and assets that promote sustainability by using natural resources more effectively, reducing environmental impact, and enhancing energy efficiency.
This document is now active, having been published in the national legal database on October 26, 2023.
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