Uzbekistan

Implementation period: 2025-2026 Funding amount: US$200,000 Window: Just-in-Time

In July 2025, the government of Uzbekistan passed Presidential Decree PF-110 to authorize the country’s participation in international carbon markets. In addition, the country’s draft 2025 Strategic Program includes an intention to explicitly put a price on carbon. Existing laws on a National Transparency System establish the building blocks for Measurement, Reporting, and Verification (MRV) and a national registry to support putting a price on carbon . This emerging policy architecture supports the potential to develop a national carbon price in Uzbekistan, and for international transfers of mitigation projects under Article 6 of the Paris Agreement. PMI is supporting emerging analysis for the government to make decisions on carbon pricing legislation in 2026.

Objectives and Actions

PMI is supporting the Government of Uzbekistan with carbon pricing through a series of activities, including:

• Conducting a stock-take of the current carbon pricing context
• Examining the potential for a carbon tax through existing fuel excise legislation, including impact assessments and scenario analysis
• A readiness and gap analysis to identify potential institutional and regulatory actions to support carbon pricing

Additional Resources

• Uzbekistan Nationally Determined Contribution (Updated), 2021
• Long-term Strategy Facility to support Uzbekistan (EBRD)
• Uzbekistan Climate Risk Country Profile, World Bank