Uzbekistan President Shavkat Mirziyoyev stated that Karakalpakstan intends to introduce a carbon credit mechanism within the next month. This mechanism has the potential to bring an annual income of $50 to $100 million to the region.
During a meeting on the socio-economic development of the republic in Nukus, Mirziyoyev emphasized that reducing greenhouse gas emissions is an urgent task in the context of climate change. He described the transformation of green energy produced in the region into carbon credits as a new source of additional income for Karakalpakstan.
The President instructed responsible officials to launch this mechanism at the local level within a month and begin negotiations with major countries importing carbon credits. These countries include Japan, Korea, the United States, Canada, the United Kingdom, and Australia.
Mirziyoyev specified that the funds received from the export of carbon credits will supplement the already allocated funds for regional infrastructure development and will remain entirely at the disposal of Karakalpakstan.
Development of forest carbon credits
Furthermore, the president highlighted the development of forest carbon credits. According to him, large foreign companies have offered to finance tree planting in regions facing serious environmental problems through this credit system.
In this regard, officials were instructed to launch the forest carbon credit program in the Aral Sea region by the end of the current year, covering an area of 50,000 hectares.
Mirziyoyev noted that these initiatives align with broader plans for developing renewable energy in Karakalpakstan. In recent years, new energy facilities with a total capacity of 860 megawatts have been commissioned in the region, and the share of green energy has reached 23% after the construction of wind power plants in the Beruni and Karauzyak districts. The goal is to increase this share to 76% by 2030.