(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 13. Uzbekistan will
continue its collaboration with international partners to achieve
its green transition objectives, Minister of Investments, Industry,
and Trade of the country, Laziz Kudratov, said at a panel
discussion at the COP29 World Leaders' Climate Summit on the topic
“The Power of Collaboration: Joining Efforts for Net-Zero,”
Trend
reports.
"Uzbekistan is actively advancing its green transition, with one
of the key achievements being the successful implementation of the
Green energy Certificate system. This initiative supports
manufacturers who use renewable energy sources and environmentally
friendly technologies. Each certificate corresponds to a reduction
of 5,000 kWh in energy consumption, thus encouraging sustainable
production practices. To date, approximately 20,000 certificates
have been issued, reflecting the growing interest and progress in
this area.
This mechanism benefits all stakeholders-both consumers and
producers-by enhancing the environmental sustainability of their
products. Moreover, it helps businesses secure financing for their
investment and expansion plans, further accelerating the transition
to a greener economy," he said.
Kudratov further noted that Uzbekistan is closely collaborating
with international financial institutions to develop long-term
plans for economic diversification aimed at achieving carbon
neutrality.
"This approach aims for carbon neutrality and encompasses
several specific projects and efforts. Initiatives have been
undertaken to draw investment into the energy sector, aiding
Uzbekistan's shift towards low-carbon and energy-efficient economic
frameworks. Furthermore, we are undertaking initiatives to evaluate
economic growth and climatic circumstances via the Climate Change
and Development Report, endorsed by the World Bank. This paper
offers a thorough examination of climate change's effects on the
economy, allowing for the formulation of effective mitigation
strategies and enhancing access to international financial and
energy recovery initiatives," he added.
The minister highlighted that a key focus is the implementation
of Uzbekistan's Green Development Strategy through 2030. The
program outlines clear targets, including a 0.5 percent reduction
in specific greenhouse gas emissions compared to 2010 levels, a
rise in the share of renewable energy to 4 percent of total
electricity generation, and a 30 percent reduction in energy
consumption per unit of GDP by 2030.
"All of these initiatives-from the certification system to
monitoring electricity production and assessing climate impacts-are
designed to foster a sustainable economy that uses resources more
efficiently and embraces cutting-edge energy-saving technologies.
We will also maintain strong cooperation with international
partners to ensure the achievement of these goals," he said.
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