Central Bank discusses the development of "green" financing in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank hosted a training seminar on the development of "green" trade finance in Uzbekistan, organized jointly with the European Bank for Reconstruction and Development (EBRD). 

It was attended by EBRD Managing Director for Financial Institutions Francis Malij, international experts and representatives of Commerzbank, Raiffeisenbank, the Central Bank and commercial banks of Uzbekistan.

During the seminar, a presentation of the Central Bank was made on the current work in the field of green policy, opportunities and challenges. It was noted that Uzbekistan ratified the Paris Climate Agreement in 2018, and in 2021 increased its quantitative obligations under the Paris Agreement and intends to reduce specific greenhouse gas emissions by 35% by 2030 from the 2010 level. Also, the Central Bank of the Republic of Uzbekistan has become a full member of the NFSJ since 2017.

At the same time, in October 2019, the "Strategy for the transition of the Republic of Uzbekistan to a green economy for the period 2019-2030" was adopted, which envisages the reduction of greenhouse gas emissions in the country by increasing energy efficiency, expanding the use of renewable energy sources. According to the Strategy, until October 2023, the development of a “National Green Taxonomy” is planned.

To date, the Central Bank installed 536 solar panels on an area of 3000 sq. meters, with the help of which it is planned to save 30-40% of electricity.

The training seminar also touched upon issues related to the assessment of climate risks of client banks, “Green” trends in Central Asia, “Green” trade finance”, etc.