Uzbekistan to Join Global Carbon Credit Market

The President of Uzbekistan, Shavkat Mirziyoyev, has signed a decree on the international carbon credit market. The document has been published on the official portal Lex.uz.

Carbon credits are used to calculate and offset greenhouse gas emissions. Typically, one credit equals one ton of carbon dioxide. These units help measure the effectiveness of emission reduction efforts.

The newly signed decree aims to legalize and organize carbon credit trading, including on the international market. According to the plan, 80% of carbon credits generated from relevant projects will be sold abroad, while the remaining 20% will be held in reserve.

Starting next year, Uzbekistan will introduce a National Carbon Credit Registry, managed by the Ministry of Economy and Finance and the Ministry of Ecology.

The Interagency Council for the Transition to a Green Economy will be responsible for enforcing rules for carbon credit sales under the Paris Agreement. The council will also be authorised to determine the volume of credits available from state-involved projects.

Kursiv Uzbekistan also reports that Uzbekistan’s railway ambitions took centre stage at the Global High-Speed Rail Congress in Beijing.