Uzbek Thermal Power Company Achieves International ESG Rating

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan continues implementing initiatives to integrate sustainable development principles into its energy sector, in line with President Shavkat Mirziyoyev’s directives.

As part of these reforms, the “Uzbekistan–2030” strategy adopted on January 30, 2025, and the State Program for the “Year of Environmental Protection and Green Economy” set priorities for decarbonizing the economy, rational use of natural resources, and improving corporate governance transparency.

Within this framework, JSC “Thermal Power Plants” carried out comprehensive ESG-related work in 2025. This included analysis of business processes, assessment of ESG performance, and development of an ESG roadmap for 2026–2030, according to the company’s press service.

The company has systematized its environmental data management and improved mechanisms for data updates. In line with the international GHG Protocol methodology, greenhouse gas emissions for Scope 1 and Scope 2 are calculated regularly, forming a basis for climate risk management and decisions supporting decarbonization and energy efficiency improvements.

For the first time in its history, the company produced a sustainability report based on GRI and SASB international standards for 2024, enhancing ESG data transparency and comparability with global practice.

In 2025, the company strengthened its institutional ESG framework, refining regulatory policies, implementing sustainability monitoring mechanisms, and improving ESG disclosure processes. A labor protection and industrial safety program for 2026–2027 was also developed.

As a result of these measures, JSC “Thermal Power Plants” received its first ESG rating from the international agency Sustainable Fitch in Q1 2026, scoring 50 points, indicating a well-established institutional basis for sustainable development.

Looking ahead, the company plans to develop a climate strategy with long-term targets for emissions reduction, energy efficiency, climate risk adaptation, and adoption of low-carbon technologies. Preparations are also underway for the first ISSB-compliant disclosure report (IFRS S1/S2) and a comprehensive environmental audit to assess the enterprise’s impact.

Experts note that these initiatives systematically integrate ESG principles into corporate operations and modernize Uzbekistan’s energy sector, strengthening company efficiency, investor confidence, and the transition toward a green economy.