ESG PRACTICES IN SOLUTION OF REGIONAL PROBLEMS OF SUSTAINABLE GROWTH

INTERNATIONAL SYMPOSIUM “ADVANCED RESEARCH IN ECONOMICS AND BUSINESS MANAGEMENT”, SEPTEMBER 19, 2025 312 ESG PRACTICES IN SOLUTION OF REGIONAL PROBLEMS OF SUSTAINABLE GROWTH Satimova Diliorom Numanovna TMС Institute (Tashkent), Department of Economics, Finance and Accounting, Senior Lecturer https://doi.org/10.5281/zenodo.17265795 Abstract. In the context of global environmental instability, ESG practices and the development of a “green” economy are becoming the most important factors for the sustainable growth of regions. The article examines the problems of regional development and industrial economy in Uzbekistan, as well as the opportunities for introducing Waste-to-Energy (WtE) technologies to enhance the investment attractiveness of peripheral regions. Special attention is paid to the application of ESG practices as a key tool for ensuring sustainable growth and creating new centers of economic development. Keywords: ESG practices, regional development, industrial economy, sustainable development, green economy. MAIN TEXT In recent years, Uzbekistan has seen increased investment activity; however, the distribution of foreign investments across regions remains extremely uneven. This intensifies existing disparities in the level of socio-economic and industrial development of territories, as clearly reflected in Table 1. Table 1. Distribution of foreign investments by regions of Uzbekistan. Region Investment volume, trillion UZS In million USD (01.01.2024) Regional share, % Republic of Karakalpakstan 7.3 591.7 3.63 Andijan region 11.9 964.5 5.65 Bukhara region 22.4 1815.5 10.95 Jizzakh region 10.6 859.3 5.25 Kashkadarya region 12.3 996.9 6.15 Navoi region 17.6 1426.2 8.80 Namangan region 10.7 867.4 5.35 Samarkand region 12.7 1029.3 6.24 Surkhandarya region 12.1 980.7 6.11 INTERNATIONAL SYMPOSIUM “ADVANCED RESEARCH IN ECONOMICS AND BUSINESS MANAGEMENT”, SEPTEMBER 19, 2025 313 Syrdarya region 10.9 1045.5 6.40 Tashkent region 26.7 2164.2 13.24 Fergana region 10.3 834.8 5.24 Khorezm region 5.5 445.8 2.75 Tashkent city 28.7 2326.2 14.24 Total 201.7 16348.0 100 Source: compiled by the author based on the data of the Ministry of Ecology, Environmental Protection and Climate Change of the Republic of Uzbekistan (https://uznature.uz/) . As can be seen from Table 1, the highest concentration of foreign capital is in Tashkent city and Tashkent region (14.24% and 13.24%), while the share of Karakalpakstan and Khorezm region remains minimal – 3.63% and 2.75% respectively. This deepens socio-economic disparities between regions and requires the application of new approaches based on the principles of sustainable development and ESG. One of the key directions for addressing environmental and economic problems is the development of the green economy. The application of ESG practices promotes more rational use of resources. This not only improves the environmental situation but also ensures conditions for long-term economic growth. Projects in the field of waste recycling and the introduction of Waste-to-Energy (WtE) technologies are of particular importance, as they allow addressing environmental safety challenges while stimulating industrial growth. This technology creates conditions for extending the value chain: waste is transformed into energy and industrial resources, which contributes to the development of new industries, the creation of jobs, and strengthening of the regional economy. The analysis of the infrastructure capacities of solid household waste disposal sites in the regions of Uzbekistan made it possible to identify the structure and distribution of facilities. The final data are presented in Table 2. Table 2. Distribution of solid waste landfills by regions of Uzbekistan. Region Number of landfills Deficient capacity Republic of Karakalpakstan 30 5 Andijan region 15 4 Bukhara region 20 5 Jizzakh region 14 – Kashkadarya region 18 3 INTERNATIONAL SYMPOSIUM “ADVANCED RESEARCH IN ECONOMICS AND BUSINESS MANAGEMENT”, SEPTEMBER 19, 2025 314 Navoi region 12 4 Namangan region 15 3 Samarkand region 16 3 Surkhandarya region 20 3 Syrdarya region 10 2 Tashkent region 19 4 Fergana region 20 4 Khorezm region 10 3 Source: compiled by the author based on the data of the Ministry of Ecology, Environmental Protection and Climate Change of the Republic of Uzbekistan (https://uznature.uz/). As shown in Table 2, there are 219 landfills, of which 43 units are deficient. A more detailed study of the morphological composition of waste at landfills, for example in Andijan region, revealed the structure presented in Table 3. Table 3. Morphological composition of waste in Andijan region in 2024. Waste composition and structure Share, % Food waste 53.4 Plant waste 2.54 Paper and cardboard 6.3 Polymers (plastic, polyethylene) 8.8 Glass 1.8 Metals 0.85 Textile 3.0 Diapers, hygiene products 5.0 Wooden products 1.72 Hazardous waste 3.7 Other waste 12.89 Total 100 INTERNATIONAL SYMPOSIUM “ADVANCED RESEARCH IN ECONOMICS AND BUSINESS MANAGEMENT”, SEPTEMBER 19, 2025 315 Source: compiled by the author based on the data of the Ministry of Ecology, Environmental Protection and Climate Change of the Republic of Uzbekistan (https://uznature.uz/). As can be seen from Table 3, the waste structure shows high potential for the use of organic and polymer fractions as raw materials for energy and industrial projects. Developed countries such as Sweden and South Korea have accumulated significant experience in establishing and effectively operating Waste-to-Energy (WtE) plants, which make it possible to simultaneously address waste utilization and clean energy production. Investments in WtE plants processing 200–500 tons of waste per day will provide the generation of up to 1700 kWh of thermal energy and 300–550 kWh of electricity from each ton of raw material, reduce the load on landfills, and contribute to the development of the regional industrial economy. For foreign investors, ESG projects are of particular interest since they provide opportunities for concessional financing in their home countries and allow obtaining “green” certificates for hydrocarbon trading. This increases the financial stability of projects and enhances their competitiveness in global markets. This creates favorable conditions for attracting foreign investment in green economy projects and strengthening Uzbekistan’s position in the field of sustainable development. CONCLUSIONS 1. ESG practices are an important tool for addressing regional issues of sustainable growth. 2. The development of the industrial economy in peripheral regions requires consideration of the green economy and ESG approaches. 3. The high share of organic and polymer waste in the morphological composition of MSW opens up prospects for the development of Waste-to-Energy projects. 4. The introduction of green technologies contributes to the formation of new centers of economic growth and increases the investment attractiveness of regions. REFERENCES 1. Satimova D.N., Makhmudov R.G. Upcycling – a technology of sustainable regional development // XXII International scientific and practical conference. – Orel, 2023. – P. 161–168. – URL: https://elibrary.ru/item.asp?id=63798324 (accessed: 12.09.2025). 2. Sodikov A.M., Urunov A.A., Satimova D.N., Boboev G.G. 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