The article analyzes the theoretical foundations of implementing “green standards” in the hospitality industry, examines international practices, and explores the prospects for their application in Uzbekistan. The study focuses on key areas such as environmental sustainability, efficient resource use, and energy efficiency in hotel operations. Based on international experience (Japan, Sweden, South Africa, Denmark, and Singapore), the research identifies successful models of “green hotels” and develops scientifically grounded recommendations for their integration into the national framework. The paper also proposes practical measures for improving Uzbekistan’s environmental standards, aligning the national standard “Hospitality Industry Criteria” with international requirements, and introducing a “green hotel model” based on national design concepts

Countries are increasingly proposing investment attraction systems that aim to improve economic efficiency and achieve higher “green competitiveness” outcomes by better aligning environmental standards and growth policies under sustainability-oriented governance mechanisms. The need to develop and implement balanced investment strategies, drawing on international best practices to determine which environmental and economic indicators are appropriate and how to integrate them into national planning systems and sectoral development programs, is forcing emerging economies to rethink their policy instruments, regulatory mechanisms, and institutional capacities. This study aims to make this contribution, in addition to providing an analytical framework that reviews empirical papers that shed light on the interactions between investment attraction, environmental compliance, and policy coordination with dynamics such as sustainable fiscal policy, industrial modernization, regional development, or green transformation. Following a methodological synthesis, a comparative assessment of foreign investment development is prepared, in which environmental integration is linked to these key terms, economic diversification and institutional adaptation. This framework can serve as a benchmarking model and policy guidance for regulators, investors, analysts and decision-makers. This study has two main contributions. First, it is the first time that such a multi-criteria assessment table is being developed to demonstrate the interrelationship between economic and environmental aspects. Second, it captures the idea of compatibility between environmental protection and economic development, policy implementation and societal needs, national priorities and global standards, i.e. it requires flexible governance. This article provides Uzbek policymakers with important information and insights on how to take environmental commitments into account when attracting sustainable investment. The future research agenda provides broad opportunities for comparative analyses and applied studies on investment efficiency, sustainable growth, institutional capacity, and green transformation.

This paper analyzes the key criteria of sustainability reporting and the internationally widely applied standards, including GRI (Global Reporting Initiative), IFRS S1 and IFRS S2, as well as the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures). The role of sustainability reporting in assessing the long-term sustainability of organizational activities through environmental, social, and governance (ESG) indicators is highlighted. The stakeholder-oriented nature of the GRI standards, the focus of IFRS S1 and S2 standards on the disclosure of financially material sustainability- and climate-related risks and opportunities, and the role of TCFD recommendations in climate risk management are examined. The findings of the study contribute to identifying the importance of international standards in the development of sustainability reporting

This research examines the influence of environmental risk management (ERM) on the credit portfolio stability of commercial banks in Uzbekistan, utilising secondary data from sustainability reports, regulatory publications, and international financial institutions. The results show that banks with more advanced ERM frameworks, which include environmental screening, green lending, and sustainability governance, have lower non-performing loan (NPL) ratios and better asset quality. On the other hand, banks that don’t use ERM as much are still more vulnerable to environmental and credit risks. The study finds that integrating environmental risks into the banking system in Uzbekistan is necessary to make it more financially stable and in line with global standards for sustainable finance

This study investigates the relationship between ESG disclosure quality and international competitiveness among commercial banks in Central Asia, benchmarked against a matched sample of European Union (EU) institutions. Using a mixed-methods approach –including content analysis of sustainability reports (2018–2024), a novel ESG Disclosure Quality Index (EDQI), and panel regressions on 495 bank-year observations – we find that Central Asian banks exhibit significantly lower ESG transparency across environmental, social, and governance dimensions compared to EU peers. Crucially, higher-quality ESG disclosure is robustly associated with greater foreign investment inflows, increased likelihood of Eurobond issuance, higher foreign ownership, and improved credit ratings – even after controlling for bank fundamentals and institutional quality. Notably, the marginal benefit of ESG transparency is significantly stronger in Central Asia than in the EU, suggesting that credible disclosure serves as a critical signaling mechanism in emerging markets where such information is scarce. These findings support the strategic adoption of global ESG reporting standards (e.g., ISSB, TCFD) by Central Asian regulators and banks to enhance financial integration and investor confidence.

This article examines the strategic role of fuel and energy enterprises in the economic development of Uzbekistan, focusing on their contribution to macroeconomic stability and energy security. The research highlights the importance of oil, gas, coal, and electricity as essential resources for sustaining industrial growth and improving living standards. Particular attention is paid to the dynamics of investment flows, modernization processes, and the integration of renewable energy sources into the national energy system. A comprehensive methodological framework was employed, combining statistical analysis, comparative assessment, and expert interviews. The results show that the fuel and energy sector remains a major contributor to GDP growth and export potential, while challenges such as low energy efficiency, outdated production capacities, and insufficient investment persist