Tashkent, Uzbekistan (UzDaily.com) -- Within the framework of the 32nd annual meeting of the Board of Directors of the European Bank for Reconstruction and Development (EBRD), events were held related to one of the most pressing topics today - the transition to a "Green" economy and the implementation of the principles green growth in all spheres of life. In this regard, the role of the “Climate Coalition of Finance Ministers” created in April 2019 in the implementation of the “green” economy and addressing climate issues is growing every year.

The Ministry of Economy and Finance of the Republic of Uzbekistan handed over its notes with the initiative to join the Climate Coalition of Finance Ministers.

In particular, governments, representatives of business and civil society of all countries are now joining their efforts in the fight against climate change, actively implementing the principles of "green" growth. Today the members of the Coalition are finance ministers from more than 80 countries.

It was created with the support of the World Bank, and its main goal is to integrate climate issues into the development of economic and financial policies, raise awareness of key climate-related issues, increase the capacity of ministries of finance in this direction, and also support global efforts to prevent climate change .

The Helsinki principles promoted within the framework of the coalition correspond to the priority goals set in the Strategy for the transition of Uzbekistan to a "green" economy.

In particular, the implementation of national actions on climate change in accordance with the Helsinki principles with the active involvement of fiscal policy and public finance is commensurate with the reforms carried out by the Ministry of Economy and Finance of the Republic of Uzbekistan.

The Helsinki principles promoted by the coalition include:

1. Adapting policies and practices to the commitments made under the Paris Agreement;

2. Exchange of experience and practical knowledge in the field of climate change;

3. Take appropriate measures to organize efficient carbon trading;

4. Accounting for climate change in macroeconomic policy, fiscal planning, budgeting, public investment management and procurement practices;

5. Mobilize private sources for climate finance by improving the investment climate;

6. Active participation in the development and implementation of Nationally Determined Contributions (NDCs) under the Paris Agreement.

As part of the transition strategy to a green economy in Uzbekistan, it is necessary to ensure green and inclusive economic growth, fulfill obligations under the Paris Agreement, implement innovative carbon trading projects, and expand the use of renewable energy sources. Particular attention is paid to the widespread use of "green" principles in all sectors of the economy.