Efficiency of the Green Economy: Monitoring Based on International Experience and Prospects for Improvement in Uzbekistan

Abstract

Drawing on international experience, the research monitors the effectiveness of the green economy in Uzbekistan and determines the prospects for improving this efficiency in Uzbekistan. The theoretical significance of this research lies in developing a new methodological approach to assessing the green economy's development level. The novelty and uniqueness of the author's approach consist of the consideration of the development of the green economy from the perspective of efficiency, with a systemic consideration of costs and benefits. The successful testing of the author's approach in the case of Uzbekistan in 2023 confirmed its high quality and reliability. The main author's conclusion is that the efficiency of the green economy in Uzbekistan in 2023 is sufficiently high: ecological investments are profitable, which promotes the development of the green economy. To enhance the efficiency of the green economy in Uzbekistan, it is recommended to use a new methodological approach to monitor the green economy from the standpoint of its efficiency and integrate green economic indicators into corporate reporting using green International Financial Reporting Standards (IFRS). The practical significance of the results obtained is expressed in the fact that the results of the conducted monitoring of the efficiency of the green economy in Uzbekistan in 2023, based on international experience, as well as the proposed recommendations for improving the management of the green economy, will help increase its efficiency in Uzbekistan by 2030.

Citation

Rakhimberdiev, I.U., Urakov, R.F., Artikova, R.A., Ismatullaeva, N.N. and Seytbekova, S.T. (2024), "Efficiency of the Green Economy: Monitoring Based on International Experience and Prospects for Improvement in Uzbekistan", Eshov, M.P., Abdurakhmanova, G.K., Burkhanov, A.U., Abdusalomova, N.B. and Ergasheva, S.T. (Ed.) Development of International Entrepreneurship Based on Corporate Accounting and Reporting According to IFRS (Advanced Series in Management, Vol. 33B), Emerald Publishing Limited, Leeds, pp. 225-233. https://doi.org/10.1108/S1877-63612024000033B028