DEVELOPMENT OF THE FINANCIAL MARKET OF UZBEKISTAN BASED ON ESG PRINCIPLE
DOI:
https://doi.org/10.60078/2992-877X-2026-vol4-iss2-pp213-220Abstract
This article examines the current state of Uzbekistan’s financial market and the key institutional challenges emerging in the course of its development. In particular, it provides a scholarly analysis of such factors as low investor confidence, the relatively high cost of capital, the quality of corporate governance, and the limited availability of long-term financing sources. In addressing these challenges, the paper elaborates on the economic foundations and mechanisms for integrating ESG (Environmental, Social, Governance) principles into the financial system. Drawing on the findings of international empirical studies, it synthesizes the impact of ESG factors on risk reduction, enhanced information transparency, and improved access to capital. Furthermore, the study formulates scientific and practical recommendations regarding the priority areas and institutional mechanisms for the implementation of ESG principles in the context of Uzbekistan.
Keywords:
ESG financial market sustainable finance capital market investor confidence cost of capital corporate governance green finance sustainable investments financial system of UzbekistanReferences
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