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Economy 15/04/2025 Transition to a "Green Economy": Innovative approaches to sustainable development discussed

Transition to a "Green Economy": Innovative approaches to sustainable development discussed

Tashkent, Uzbekistan (UzDaily.com) — On 15 April 2025, Uzpromstroybank, in collaboration with the Singapore Institute of Management Development, organized an international scientific and practical conference in Tashkent on the topic "Transition to a Green Economy: Problems and Prospects."

In Uzbekistan, 2025 has been declared the "Year of Environmental Protection and the Green Economy" by the President of the country. The relevant State Program includes tasks to strengthen cooperation between science and economic sectors to address global environmental issues, study international experience, and implement innovative approaches.

The event was attended by representatives of domestic educational and financial institutions, as well as leading experts from such prestigious international organizations as the World Bank, Asian Development Bank, European Bank for Reconstruction and Development (EBRD), French Development Agency, Global Green Growth Institute (GGGI), Fitch Ratings, PricewaterhouseCoopers, BUREAU VERITAS, scholars, researchers, professors, and business community representatives.

The forum discussed key topics such as the latest trends in "green economy," ESG principles, renewable energy sources, measures for climate adaptation and mitigation, as well as "green finance." The mechanisms for transitioning to sustainable development through the implementation of national "green" classifications and international certification standards were also explored.

Uzpromstroybank has identified the transition to a "green economy" as a strategic direction. As noted by the Deputy Chairman of the Board of the bank, Shukhrat Yakubov, hundreds of "green" projects have been financed, foreign "green" credit lines attracted, and ESG standards implemented. The bank is also actively involved in environmental and social initiatives.

– Earlier this year, the international rating agency "Sustainable Fitch" assigned Uzpromstroybank an ESG rating of level 3 with a total score of 59, – noted Shukhrat Yakubov. – Additionally, the European Bank for Reconstruction and Development has repeatedly recognized the bank's contribution to financing "green trade."

The Rector of the Singapore Institute of Management Development in Tashkent, Ilkhom Mamatkulov, particularly emphasized the role of the education system in this process:

– Today, higher education institutions are not only sources of training professionals but centers of transformation, shaping a new generation of leaders capable of operating in the context of environmental and technological risks, – he stated.

The event also featured reports on advanced financial instruments and the role of banks in forming a sustainable development ecosystem. The forum became a platform for open dialogue, exchange of experience, and the formation of new international partnerships.

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