Uzbekistan's Ministry of Economy and Finance examines emissions data needs for national carbon pricing

Uzbekistan's Ministry of Economy and Finance held a seminar examining how emissions trading and carbon pricing could support industrial decarbonization. A key conclusion was the need to establish reliable historical emissions data at facility level before defining emission allowances and carbon pricing rules in Uzbekistan. European Union experience, including that of the German Emissions Trading Authority, provided examples of the monitoring, reporting and verification systems underpinning emissions trading. Discussions covered allowance allocation, including auctions, and independent verification. Participants also examined the distinction between emission allowances and carbon credits generated by projects, alongside mechanisms to prevent double counting. Another focus was directing carbon pricing revenues toward industrial decarbonization and green investment. Discussion of the European Union's Carbon Border Adjustment Mechanism centered on maintaining Uzbek exporters' competitiveness, particularly mineral fertilizer producers, and opportunities to retain carbon payments within the domestic economy.