Transition to a Green Economy in Uzbekistan: Prospects and Challenges for the Development of Renewable Energy

¹ “Tashkent Institute of Irrigation and Agricultural Mechanization Engineers” National Research University, Tashkent, Uzbekistan
² Uzbekistan State World Languages University, Tashkent, Uzbekistan
³ Tashkent University of Information Technologies named after Muhammad al – Khwarizmi in Tashkent, Tashkent, Uzbekistan

^* Corresponding author: isakulovabakhtigul@gmail.com

Abstract

The article discusses the issues of transition to a green economy in Uzbekistan. The growing energy demand, as well as deteriorating air quality and public health are increasingly pushing the energy sector to shift to renewable sources. The article analyzes trends and prospects for the use of environmentally friendly technologies in the context of global changes and national economic priorities. The economic, social and environmental (ESG) aspects of the transition to sustainable development are examined, including an assessment of government policies, investments and their impact on the country’s economy. The main focus is on the need to liberalize the energy market, increase energy efficiency and stimulate the use of renewable energy sources. We find that there is a need to introduce market principles for energy pricing and reduce subsidies to stimulate the rational use of natural resources and attract international investment. The paper highlights the importance of creating infrastructure to support a green economy, which will contribute to the country’s economic growth and sustainable development.