The Development of ESG Practices in Uzbekistan: Challenges and Future Directions
Abstract
This article examines how the sustainable development agenda is influencing changes in the world economy. These days, environmental stewardship (E), social responsibility (S), and good governance (G) are the three main areas that business and finance are concentrating on more and more. This essay explores the implications of Uzbekistan's shift to ESG and the obstacles the nation must overcome to achieve sustainable financing. The current state of affairs, major challenges, and particular actions required to advance ESG principles in the nation are all examined in this article. Creating a functional national ESG infrastructure, establishing clear guidelines (methodology), making Uzbek ESG ratings comprehensible to international investors, and assisting local businesses in incorporating these concepts into their day-to-day operations are some of the major problems facing the country going forward.