Integrating ESG Criteria into Sustainable Project Finance Mechanisms in the Banking Sector of Uzbekistan
Abstract
The global financial system is undergoing a profound structural transformation driven by climate change risks, environmental degradation, social inequality, and governance failures. In this context, Environmental, Social, and Governance (ESG) criteria have evolved from voluntary corporate responsibility principles into core determinants of capital allocation and risk assessment within modern financial markets. Sustainable finance has rapidly expanded over the past decade, with global labeled sustainable bond issuance exceeding USD 1.1 trillion annually in 2024 and cumulative volumes surpassing USD 6 trillion (World Bank, 2024). This growth reflects a fundamental shift in investor preferences toward long-term value creation, resilience, and responsible capital deployment.
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References
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