GREEN BONDS: ESSENCE, SIGNIFICANCE AND DEVELOPMENT PROSPECTS IN UZBEKISTAN

Susanna S. Alieva

GREEN ECONOMY AND DEVELOPMENT, 2026, vol. 4, issue 4

Abstract: The paper explores green bonds as a relatively new financial mechanism designed to channel investment intoenvironmentally focused initiatives. It starts with a brief reflection on the conceptual foundations of this instrument, thenturns to international practice, which, in a way, helps to see how these instruments behave outside a purely theoreticalsetting. Particular attention is given to the situation in Uzbekistan, where the market is still taking shape. The discussiontouches upon current developments as well as possible directions for its further evolution. Using available statisticalevidence, the study compares market volumes, key elements of the regulatory framework, and the sectoral distributionof bond issuances. Overall, the findings suggest that green bonds could become an important source of funding forsupporting the shift of the national economy toward a more sustainable development path, although this transition isunlikely to be immediate and will probably unfold step by step

Keywords: green bonds; sustainable finance; ESG-oriented investment; Uzbekistan’s securities market; environmentally driven economic development; climate-related funding; Capital Markets Union (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:teu:ged000:v:4:y:2026:i:4:id:9986

DOI: 10.5281/zenodo.19563041

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