Uzbekistan and Asian Development Bank Discuss Sustainable Mining Development

Tashkent, Uzbekistan (UzDaily.com) — First Deputy Minister of Mining and Geology F. Hamidova, together with ministry officials and heads of sector enterprises, held a meeting with representatives of the Asian Development Bank (ADB).

During the discussions, the ministry’s leadership highlighted the pilot implementation of IFRS S1 reporting standards for sustainability-related financial disclosure and IFRS S2 standards addressing climate-related aspects at Navoi Mining & Metallurgy Combinat and Almalyk Mining & Metallurgical Combinat. These projects, supported by ADB, serve as examples of introducing international reporting standards into Uzbekistan’s mining sector.

The parties also explored potential financing for decarbonization projects at mining enterprises through the Climate Investment Fund (CIF).

Special attention was given to sharing expertise and implementing pilot initiatives for carbon capture and storage at industry facilities, aimed at enhancing environmental sustainability and reducing the carbon footprint of production processes.