Uzbekistan has introduced a new law that paves the way for the creation and international trade of carbon credits, marking a significant step in the country’s environmental policy. Signed by President Shavkat Mirziyoyev, the ‘Law on Limiting Greenhouse Gas Emissions’ creates a national mechanism for issuing tradable carbon units generated by approved emission-reduction projects.
Men inspecting tree seedlings and checking documents in a tree nursery in Uzbekistan. AI generated picture.
The law allows developers of eligible green projects—those that either cut emissions or enhance greenhouse gas sequestration—to receive carbon units for each tonne of CO₂-equivalent reduced or removed. These units will be recorded in a new national carbon registry and can be traded domestically between parties within Uzbekistan.
To engage with the international carbon market, however, a dual approval process is required. Developers must receive authorisation from the Ministry of Economy and Finance to sell credits abroad, and only buyers approved by the Cabinet of Ministers will be permitted to participate in overseas transactions.
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According to the president’s office, ‘The adoption of the draft law will allow us to reduce greenhouse gas emissions in our country and regulate the trading of carbon units generated as a result on international markets, as well as fulfil Uzbekistan's obligations under the Paris Agreement.’
The law sets out a legal framework covering a wide range of greenhouse gases (GHG), including carbon dioxide, methane, and nitrous oxide. While it does not explicitly reference Article 6 of the Paris Agreement—which governs international carbon market cooperation—it offers the foundation for potential alignment in the future.
Uzbekistan has yet to update its Nationally Determined Contribution (NDC) under the Paris Agreement. The most recent NDC, issued in 2021, targeted a 35% reduction in GHG emissions per unit of GDP by 2030 relative to 2010 levels. The country is expected to submit an updated environmental commitment for the 2030–2035 period ahead of the UN summit in Brazil this November.
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