Tashkent, Uzbekistan (UzDaily.com) -- Today, one of the main criteria by which international financial institutions give priority when choosing companies and securities is compliance with ESG principles. In order to attract investment in ambitious projects, Uzbek companies started to work in this direction.

At this time, the following activities have been carried out at Uzbekneftegaz JSC based on the recommendations of international consultants:

- Formed an independent division responsible for the implementation of ESG standards.

- The company’s goals and their indicators were approved by the ESG.

- Approved the initial "roadmap" for the implementation of ESG standards. The roadmap was drawn up taking into account the involvement of an international consulting company in the preparation of the ESG report and support in obtaining the ESG rating.

Specialists of the ESG department share their knowledge and experience in the field of ESG at events organized by the ministries on the work carried out at Uzbekneftegaz JSC.

In particular, on 25 August, the Ministry of Economic Development and Poverty Reduction organized an online seminar on "ESG Policy, Methodology and Solutions for State Enterprises" with the involvement of a qualified foreign expert in cooperation with the Asian Development Bank. The following issues were discussed at the seminar:

- Studying the level, goals and plans for the implementation of ESG principles in state-owned enterprises;

- An overview of current best international ESG practices and rating systems that state-owned enterprises can use to obtain an ESG rating.

At this seminar, the head of the ESG department of Uzbekneftegaz JSC made a presentation on the experience and results achieved in working with consulting companies on the topic “ESG Implementation Roadmap and ESG Rating”.

It was told about the projects implemented on behalf of the Chairman of the Board of JSC "Uzbekneftegaz" Mekhriddin Abdullayev, to achieve the goals of ESG. Namely, about projects aimed at reducing greenhouse gas emissions, rational use of resources, reducing the carbon footprint and introducing renewable energy sources on a large scale.

Activities aimed at implementing the principles of ESG in Uzbekneftegaz JSC will be continued in accordance with the approved plans.