Tashkent, Uzbekistan (UzDaily.com) -- On 21 November, the high-level launch event on the Country Climate and Development Report (CCDR) was held at the International Business Center in Tashkent.

Opening the event with a welcome speech, Deputy Prime Minister - Minister of Economy and Finance of the Republic of Uzbekistan Jamshid Kuchkarov noted that the Strategic goal of economic reforms in Uzbekistan is to transform our country into an upper middle-income country.

He also emphasized the importance of taking into account the impacts of climate change on growth, trade, food security, water and land resources, as well as poverty reduction.

The main objective of the transition to a Green Economy of the country is to create a long-term growth path, with interim milestones and actions that delivers on the goal to achieve upper middle-income country status. Uzbekistan Country Climate and Development Report (CCDR) - the flagship document developed jointly with the World Bank Group and released today is a very important tool in achieving these goals.

This document offers specific solutions on growth model we have chosen, which ensures sustainable and efficient use of energy, water, land and other natural resources, minimizing pollution, climate and environmental impacts and strengthening resilience to climate shocks.

Beginning from 2019 Green Transition is one of the priority directions of increasing the effectiveness of economic reforms in Uzbekistan, regarding the limitation of resources and inclusive growth needed. Based on that, Green Growth Program and long-term Action Plan were developed with the new green policies package in 2022.

The Ministry of economy and finance are working in close cooperation with IFI’s and other international and financial organizations on effective practical implementation the long-term strategies and develop a system of monitoring, reporting and verification for effectiveness of implementing actions due to Green Economy Development Strategy.

Uzbekistan has a great potential in the direction of reducing GHG emission. Uzbekistan has increase own NDC till 35% and preparation for Article 6 of Paris Agreement – international carbon trade – is ongoing.

The document covers such important sectors of the economy as energy, agriculture and water management, transport, and industry. Special attention is paid to issues of employment and social support for vulnerable segments of the population during the transition to a green economy, as well as issues of green urbanization.

The opportunities we get by this report are:

creating a platform for governments, partners and citizens for the purpose of coordinated participation in the field of climate change, taking into account sustainable development;

effective mobilization of resources from international financial institutions, development organizations and the private sector for green transition.

Uzbekistan has already begun work on the implementation of clearly structured green taxonomy that focuses primarily on screening (labeling) investments and activities. Further measures would be needed to promote transparency and accountability for green impacts, such as requiring sustainable reporting standards or developing an independent impact verification industry to assure investors and financiers about positive green impacts.