LEGAL AND REGULATORY FOUNDATIONS FOR THE IMPLEMENTATION OF GREEN FINANCIAL INSTRUMENTS

Authors

  • Mustafoyev Azizbek Roz’zimetovich Asia International University

DOI:

https://doi.org/10.55640/

Keywords:

green finance; green bonds; sustainable finance regulation; green taxonomy; ESG disclosure; environmental law; capital markets; Uzbekistan; EU Taxonomy Regulation; climate policy

Abstract

The accelerating global climate crisis has placed immense pressure on financial systems worldwide to redirect capital flows toward environmentally sustainable activities. Green financial instruments — including green bonds, sustainability-linked loans, green sukuk, and environmental, social, and governance (ESG)-indexed securities — have emerged as pivotal mechanisms for mobilising private investment in low-carbon and climate-resilient projects. However, the effective deployment of these instruments is critically contingent upon the existence of coherent, enforceable, and internationally harmonised legal and regulatory frameworks. The findings reveal that jurisdictions with clearly codified green taxonomies, mandatory disclosure obligations, and designated supervisory authorities demonstrate significantly deeper green capital markets. The study further underscores that developing economies such as Uzbekistan face structural challenges including nascent securities legislation, limited institutional capacity, and the absence of a domestically binding green taxonomy. The paper concludes with a set of evidence-based policy recommendations directed at legislators, financial regulators, and international development institutions aimed at accelerating the legal harmonisation of green finance frameworks.

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Published

2026-06-07

Issue

Vol. 5 No. 6 (2026): Journal of Multidisciplinary Sciences and Innovations

Section

Articles

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Authors retain the copyright of their manuscripts, and all Open Access articles are disseminated under the terms of the Creative Commons Attribution License 4.0 (CC-BY), which licenses unrestricted use, distribution, and reproduction in any medium, provided that the original work is appropriately cited. The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.

How to Cite

LEGAL AND REGULATORY FOUNDATIONS FOR THE IMPLEMENTATION OF GREEN FINANCIAL INSTRUMENTS. (2026). Journal of Multidisciplinary Sciences and Innovations, 5(6), 379-384. https://doi.org/10.55640/

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