Transition to a "green economy": innovative approaches to sustainable development discussed
15.04.2025 12:39
On April 15 of this year, Uzbek Industrial and Commercial Bank JSCB, in cooperation with the Singapore Institute of Management Development, organized an international scientific and practical conference on the topic “Transition to a green economy: challenges and prospects” in Tashkent.
The President of Uzbekistan declared 2025 as the "Year of Environmental Protection and the Green Economy" at in Uzbekistan. The corresponding State Program provides for tasks to strengthen interaction between science and economic sectors to solve global environmental problems, study international experience and implement innovative approaches.
Along with representatives of domestic educational and financial institutions, the event was also attended by leading specialists from such authoritative international organizations as the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development (EBRD), the French Development Agency, the Global Green Growth Institute (GGGI), Fitch Ratings, PricewaterhouseCoopers (PwC), Bureau Veritas, research scientists, professors and teachers, and representatives of business circles.
The forum discussed in detail such current topics as the latest trends in the green economy, ESG principles, renewable energy sources, climate change adaptation and mitigation measures, and green financing. Mechanisms for transition to sustainable development through the introduction of national green classification and international certification standards were considered.
Uzbek Industrial and Commercial Bank JSCB has defined the transition to a "green economy" as a strategic direction. As Deputy Chairman of the Bank's Management Board Shukhrat Yakubov noted, hundreds of "green" projects were financed, foreign "green" credit lines were attracted, ESG standards were implemented. The bank also actively participates in environmental and social initiatives.
– At the beginning of this year, the international rating agency Sustainable Fitch assigned Uzbek Industrial and Commercial Bank JSCB an ESG rating of level 3 with a total score of 59, – noted Shukhrat Yakubov. – In addition, the European Bank for Reconstruction and Development has repeatedly recognized the bank’s contribution to financing green trade .
Rector of the Singapore Institute of Management Development in Tashkent Ilkhom Mamatkulov particularly emphasized the role of the education system in this process:
“Today, a higher education institution is not only a source of training personnel, but a transformation center that forms a new generation of leaders capable of acting in conditions of environmental and technological risks,” he noted.
The event also featured presentations on advanced financial instruments and the contribution of banks to the formation of a sustainable development ecosystem. The forum became a platform for open dialogue, exchange of experience and the formation of new international partnerships.
Bank information service
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