Tashkent, Uzbekistan (UzDaily.uz) — Karakalpakstan plans to launch a carbon credit mechanism within a month that could generate at least US$50 million to US$100 million in annual revenue for the region, President of Uzbekistan Shavkat Mirziyoyev said at a meeting on the socio-economic development of the republic in Nukus.
Mirziyoyev noted that reducing greenhouse gas emissions is an urgent task amid climate change. He described converting green energy generated in the region into carbon credits as a source of additional revenue for Karakalpakstan.
The president instructed responsible officials to launch the mechanism domestically within a month and negotiate with major carbon credit-importing countries, including Japan, Korea, the United States, Canada, the United Kingdom and Australia.
Mirziyoyev said proceeds from the export of carbon credits would supplement funds already allocated for infrastructure development in the region and would remain entirely in Karakalpakstan.
The president also highlighted the development of forest carbon credits. According to him, major foreign companies have proposed financing tree planting in regions facing difficult environmental conditions through such a credit system.
In this regard, he instructed officials to launch a forest carbon credit programme in the Aral Sea region by the end of this year, covering an area of 50,000 hectares.
Mirziyoyev said these initiatives complement broader plans to develop renewable energy in Karakalpakstan. New energy facilities with a total capacity of 860 megawatts have been commissioned in the region in recent years, while the share of green energy has already reached 23% following the construction of wind farms in Beruni and Karauzyak districts. The target is to raise the share to 76% by 2030.
