As part of participation in the 28th United Nations Climate Change Conference (COP28), Minister of Ecology, Environment, and Climate Change Aziz Abdukhakimov and Chairman of the Board of Directors of Industrial Innovation Group Taryam Matar Taryam have signed a Memorandum of Understanding. The document aims to facilitate cooperation in the creation of a National Carbon Credit System.

For reference: Industrial Innovation Group is a transnational company headquartered in the UAE. It possesses extensive 30-year experience in developing complex, high-tech systems, designing and constructing large-scale industrial innovation complexes. The organization develops sustainable pathways for various business sectors, conceptualizes carbon removal initiatives, creates project documentation for various carbon credit registries, and is a global producer of biochar - Hemporama Biochar.

The Memorandum is in line with Uzbekistan's national strategy to reduce emissions. The Ministry of Ecology, Environment, and Climate Change had previously initiated the establishment of a National Emissions Registry.

During the meeting, Aziz Abdukhakimov noted that the creation of the registry is an effective approach to addressing climate change, integrating the regulation system of existing emissions, and motivating projects aimed at reducing emissions. The Uzbek side also emphasized that the national registry is an instrument for achieving this integration.

In turn,  Matar Taryam emphasized that it is a great honor and pride for the organization to contribute to the establishment of the National Emissions Registry of the Republic of Uzbekistan. The CEO stated that the collaboration demonstrates the country's commitment to sustainable development and reducing environmental risks, which is particularly relevant in the face of global climate challenges today.

Anna Chekanova, the vice-president of the company, also highlighted the importance of the registry being created.

"The world has taken a significant step forward in addressing the climate crisis and developing technologies that can reduce emissions. Today is the crucial moment when all this knowledge and innovation must be put into action. The registry being created is a unified platform that integrates all participants of the climate ecosystem, which will contribute to the effective and practical achievement of environmental goals," said A. Chekanova.

The Uzbekistan Emissions Registry, established through joint cooperation, represents a reliable approach to accurately assessing the national ecological footprint and developing a structure for carbon capture initiatives. The registry will serve as a crucial link, acting as a comprehensive platform where organizations can regularly monitor their emissions, and carbon sequestration projects can be accurately evaluated.

Recall that the agreement was concluded within the framework of COP28, taking place in Dubai, UAE, from November 30th to December 12th.