Guidance Note on Uzbekistan Green Taxonomy

This Guidance Note serves to support the government of Uzbekistan in the design of a national Green Taxonomy. A green taxonomy sets out rules for classifying environmentally sustainable activities and can be instrumental inthe transition to a Green Economy by guiding policies and public resource flows, and influencing the private sector’s investment response. The Guidance Note discusses methodological choices for the taxonomy and their policy implications, reviews existing international practices, and recommends a model taxonomy and roadmap for further development of the taxonomy. A key message in the note is the importance of setting clear strategic goals that will inform the selection of the taxonomy’s environmental objectives and its other features. Also discussed are theinstitutional arrangements to coordinate the actions and inputs of multiple stakeholders during the development process of the taxonomy, and the importance of strong oversight and consistent enforcement of taxonomy rules by a competent regulatory body.