Publication: Prime Picks for a Green Pivot: Uzbekistan State Funds for Climate Action
Loading...
Date
2024-11-15
ISSN
Published
2024-11-15
Editor(s)
Abstract
The Government of Uzbekistan has set out to undergo a green and climate-resilient economic transition as part of its overall economic development and market orientation. Given the investment needs, a step increase in financing will be needed for a successful transition. Uzbekistan Country Climate and Development Report estimated the cost of decarbonizing the energy system to be US$20 billion annually starting in 2030 and rising thereafter. Financing is required to address other environmental issues like waste and pollution management, nature and ecosystem protection, and investments into climate-resilient infrastructure and communities. The objective of this study is to identify specific state-owned financial institutions (SOFIs) and state-owned enterprises (SOEs) that can effectively take on additional climate change and environmental targets and actions in their financing operations. One indicationof suitability is the entity’s readiness for adopting new investment guidelines and approval processes to prioritize green activities, based on robust definitions such as the National Green Economy Taxonomy (NGET). For specific high-potential funds and enterprises, or ‘green champions’, this report also presents recommendations for adopting the NGET and other green guidelines into the investment review and approval processes. The recommendations in this report are directed primarily at Ministry of Economy and Finance (MEF9)—as the major owner of many SOFIs and SOEs and therefore able to set greening requirements upon them and as the lead ministry responsible for cross-cutting green economy policies. The intended outcome is for state funding for climate and environmental initiatives to crowd in and increase more private financing for green investments. State funding channels demonstrate their role by setting investment targets and disclosing the share of green and non-green investments. The Government of Uzbekistan, with technical and financial support10 from the World Bank and other development partners, has set an aspiration to allocate 30 percent of state funding to green projects by 2026. This significant increase in public support for environmental and climate action is expected to influence private sector priorities as well.
Link to Data Set
Citation
“World Bank; Ministry of Economy and Finance of the Republic of Uzbekistan. 2024. Prime Picks for a Green Pivot: Uzbekistan State Funds for Climate Action. © World Bank. http://hdl.handle.net/10986/42421 License: CC BY-NC 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Related items
Showing items related by metadata.
Publication Green Budget Tagging in the Kyrgyz Republic(Washington, DC: World Bank, 2024-09-16)The Green Budget Tagging Guidelines Conceptual Approach establishes a comprehensive framework for implementing green budget expenditure tagging in the Kyrgyz Republic, aligning with the country’s fiscal policy directions for 2024–2028. This initiative underscores the critical role of green budget tagging as a fundamental aspect of budget policy. This report delineates the objectives, processes, and roles of ministries and agencies in green budget expenditure tagging. It underscores the necessity of quality assurance, integration with the budget process, and provision of technical support to sector ministries and budget user agencies. Furthermore, it includes a phased implementation plan and detailed descriptions of the roles and responsibilities of different actors involved in the tagging process.,Publication Poverty and Food Security in Afghanistan(World Bank, Washington, DC, 2012-02)Afghanistan faces a severe problem of poor nutrition and food insecurity. Chronic malnutrition among Afghan children is one of the highest in the world. This report investigates the status of food insecurity in Afghanistan with a focus on mapping provincial differences and an emphasis on understanding the impact of rising food prices on key measures of food security. It synthesizes findings from analysis of rising food prices and their impact on different measures of food access and utilization (such as calorie intake, protein consumption and the quality of diet) in Afghanistan. The findings are based on the analysis of data from the National Risk and Vulnerability Assessment (NRVA) 2007/08, a sample of over 20,000 households from all 34 provinces of Afghanistan. This analytical work is an integral part of the on-going collaboration between the Government of Afghanistan and the World Bank in the domain of poverty and vulnerability assessment. It aims to further the understanding of household wellbeing and vulnerability from the standpoint of food security and complements the earlier work presented in 'poverty status in Afghanistan. Finally, given that poor nutrition and food insecurity affect a sizeable proportion of the Afghan population year-round but more so during bad times, there is genuine need for a scaled-up and well-targeted safety nets program in Afghanistan.Publication Poverty Status in Afghanistan(World Bank, Washington, DC, 2010-07)Poverty reduction is one of the three key objectives of the Afghanistan national development strategy. The poverty profile is an important element in the information kit of the policymaker that helps focus policy to attain this objective. A poverty profile is standard methodology to describe the extent and nature of poverty in a country or region. It assesses the magnitude of poverty and its distribution across geographic and socioeconomic domains, provides information on the characteristics of the poor, illustrates the heterogeneity among the poor, and identifies correlates of poverty. The report describes the multidimensional nature of poverty by encompassing the nonmonetary dimensions of poverty, particularly education and health status, and vulnerability to shocks. Tables in the report are also disaggregated by region, income sources, gender, and many socioeconomic characteristics. In addition to providing a picture of the many dimensions of poverty, it is important to also recognize that the poverty estimates in this report are the first nationally representative, seasonally smoothed estimates of wellbeing for Afghanistan. Because previously no such existing estimates were available, the provision of these estimates in this report is new analysis that substantially fills key knowledge gaps in our understanding of the poverty situation in Afghanistan.Publication Reforming Administrative Procedures in the Tourism, Food and Road Transportation Sectors in Bulgaria(World Bank, Washington, DC, 2007-06-25)The results of the alpha survey on administrative barriers completed in 2006 indicate that, notwithstanding recent government reforms to reduce regulations affecting firms, administrative burdens are still substantial impediments to doing business. Based on the survey, the Bulgarian Government has commissioned an in-depth analysis of the procedure affecting three sectors: tourism, food, and transport. This report recommends the efficiency of inspections should be evaluated and a centralized inspection authority for foodstuffs and feed should be considered. More work is needed to assess the efficiency of the current inspection service.Publication Turkey : Managing Labor Markets through the Economic Cycle(World Bank, Washington, DC, 2013-03-15)The Turkish economy was hit hard by the global economic crisis, but recovered fast and strong. The economy had already started to slow down in 2007, but the global financial events of late 2008 led to a sharp contraction starting in the last quarter of 2008 until growth resumed in the last quarter of 2009. The recovery was rapid, with growth reaching 9 percent in 2010 and 8.5 percent in 2011. This study looks at how the labor market fared during the recent downturn and recovery and informs policies to manage labor markets through the economic cycle and address the jobs challenge in Turkey. The study investigates: 1) pre-crisis labor market trends and the structural jobs challenge in Turkey; 2) aggregate and distributional impacts of the recent crisis, and subsequent recovery, on the labor market; and 3) recent policy measures and existing labor market institutions in the context of observed labor market outcomes. Finally, the study links policies to manage labor markets through the cycle with measures to address the longer term, structural jobs challenge in Turkey. Ongoing structural transformations and the large 'stock' of low-skilled workers are behind the jobs challenge in Turkey. Continued urbanization and labor shedding in agriculture, along with the increase in the Working Age Population (WAP), will continue to increase the number of (mostly) young and low-skilled workers looking for non-agricultural jobs. The Turkish Employment Agency (ISKUR) plays a key role in activating low-skilled workers into productive employment. ISKUR has come a long way since 2008, increasing the coverage and quality of vocational training, introducing job and vocational counselors and linking social assistance receipts to registration in ISKUR.
Users also downloaded
Showing related downloaded files
No results found.