Sustainable Finance Package
Based on analysis and adaptation of the European best practices we introduce and disseminate environmental, social and governmental standards in form of the Sustainable Finance Strategy. In particular, we develop and introduce the project evaluation criteria based on the ESG standards and introduce them in the practices of the financial institutions, and particularly commercial banks of Uzbekistan.
The Strategy is to contain both quantitative and qualitative criteria for projects’ evaluation in the area of
- environmental impact (carbon emissions, sustainable agriculture, waste management, energy efficiency);
- social parameters (diversity; human rights, data protection and privacy, labour standards and community relations); and
- governance standards (Board diversity, risk management structure, bribery and corruption, remuneration policy).
These criteria will also support commercial banks in introducing the ESG standards in their corporate governance. To access the document, please use the link below.
The sustainability criteria play a vital role in financing the companies in Europe. Compliance with certain environmental requirements allows companies to have more favourable terms of access to the capital both from the financial institution and in the market in general.
Similar steps are currently considered in Uzbekistan, but the legislative base for such processes is missing. That’s why we see here the opportunity to contribute to the policy-making by offering to the financial institutions, and specifically to the commercial banks, certain hands-on tools for the development of their own policies and practices.
Islom Karimov street, 49
