TASHKENT, Uzbekistan, December 29. Compared with the baseline scenario that does not include climate objectives, in the Net Zero by 2060 policy scenario, Uzbekistan would need to invest an additional $79 billion (in present value terms) over 2023–2060, the latest Uzbekistan Country Climate and Development Report by the World Bank says, Trend reports.
“Air pollution is the prime environmental risk and the main issue contributing to the mortality rate in Uzbekistan. Most of the air pollution rates are attributed to the burning of fossil fuels. Decarbonization could result in a drop of 19 percent in air pollution mortality attributed to fossil fuels by 2030 and 88 percent by 2060, assuming no shift back to solid fuel use.
The Bank stressed that the present economic value of reduced air pollution mortality in Uzbekistan totals $106 billion.
Furthermore, WB analysts stressed that significant decarbonization investments will deliver high economic benefits.
“Compared with the baseline scenario that does not include climate objectives, in the Net Zero by 2060 policy scenario, Uzbekistan would need to invest an additional $79 billion (in present value terms) over 2023–2060.
Significant investments in the amount of $341 billion are needed to replace aging energy infrastructure and promote decarbonization. A large part of such investments will be carried out by the private sector if the right enabling environment is in place,” the bank said.