MODELS AND METHODS IN MODERN SCIENCE
International scientific-online conference
184
GREEN FINANCING AS A FACTOR OF UZBEKISTAN'S ECONOMIC
SECURITY
Makhmudova Yulduz Bakhromjon qizi
Tashkent State University of Economics
mahmudovaulduz706@gmail.com
https://doi.org/10.5281/zenodo.15592964
Amidst the rapid rise of climate risks and the exacerbation of
environmental issues, green finance is gaining particular significance for
countries with emerging economies. Uzbekistan, a country with high potential in
the field of sustainable development, is increasingly implementing green finance
instruments. These measures are aimed at strengthening economic and financial
security, as well as mitigating the consequences of climate change.
Green finance encompasses a wide range of instruments, among which
green bonds, eco-loans, ESG investments, and government subsidies are key.
Their synergistic application contributes to the formation of a new economic
paradigm where GDP growth is combined with environmental sustainability.[4]
Green finance plays an increasingly important role in ensuring sustainable
development, facilitating the transition from a traditional economic growth
model to environmentally balanced development.
It helps to account for environmental risks in investment decisions,
encourages businesses to adopt clean technologies, and enhances the level of
transparency and accountability in the environmental sphere. In the context of
an escalating climate crisis and existing international commitments, such as the
Paris Agreement, green finance is becoming strategically significant not only for
individual businesses but also for the national economy as a whole.
Table 1
Key Green Financing Instruments and Country Examples
[4]
Instrument
Function
Examples of countries
Green bonds
financing of renewable
energy
projects,
transportation,
and
environmental
infrastructure
Uzbekistan,
France,
China
Eco-loans
favorable conditions for
"green" and resource-
saving initiatives
Uzbekistan,
Germany,
India
MODELS AND METHODS IN MODERN SCIENCE
International scientific-online conference
185
ESG investments
investment considering
non-financial
risks
(environmental,
social
aspects)
USA,
Kazakhstan,
Sweden
Government subsidies
benefits
supporting
businesses implementing
green technologies
Uzbekistan,
Canada,
Japan.
Particular attention should be paid to the fact that Uzbekistan is already
demonstrating examples of successful implementation of these tools.[2]
Government policy is focused on the development of renewable energy, energy-
efficient technologies, and environmental modernization of production. The
involvement of small and medium-sized businesses in the green economy
enhances institutional resilience and reduces social vulnerability.
Thus, green financing is becoming not only a tool for improving the
environmental situation but also a mechanism for economic stabilization. This
direction requires further regulatory support, information support, and
integration with international practices.
List of references:
1.Kamaev, V.D. *Economic Security*. - M.: INFRA-M, 2016. - pp. 187–190.
2.Lavrushin, O.I. *Financial Security*. - M.: Dashkov i K, 2020. - pp. 122–126.
3. Climate Bonds Initiative – https://www.climatebonds.net/
4.World Bank – https://www.worldbank.org/
5.IFC – International Finance Corporation – https://www.ifc.org/
