On 25 November 2025, a meeting was held at JSC “UzAssets” with a delegation of the Asian Development Bank as part of preparations for the implementation of the Climate Transition Acceleration Program aimed at green, inclusive, and sustainable economic growth.

During the meeting, the parties discussed key areas of cooperation, including the introduction of sustainability reporting standards and the development of corporate governance in Uzbekistan’s state-owned enterprises.

Special attention was given to the implementation of the international sustainability reporting standards IFRS S1 and IFRS S2, which ensure the disclosure of information on companies’ climate impacts, the resilience of their business models, and approaches to managing climate-related risks and opportunities.

The management of JSC “UzAssets” presented information on the current level of readiness of companies to transition to these standards, as well as the measures being undertaken for their phased implementation.

In addition, the parties discussed the organization of a Center of Excellence, which will focus on the following areas:

• building competencies in the field of sustainable development;
• training specialists;
• developing methodological and educational materials;
• delivering training and advisory support to state-owned enterprises;
• introducing advanced international practices in climate and sustainability reporting.

The parties noted the need to further strengthen institutional support, inter-agency coordination, and methodological consistency, which will help accelerate the transition of state-owned enterprises to sustainable business processes.

It was emphasized that the implementation of climate initiatives, improvement in the quality of disclosures, and enhancement of corporate governance will create a foundation for expanding access to green and sustainable financial instruments, as well as increasing the investment attractiveness of state-owned enterprises.