INTEGRATION OF ESG PRINCIPLES INTO THE CORPORATE GOVERNANCE SYSTEM OF STATEOWNED ENTERPRISES IN UZBEKISTAN: KEY BARRIERS AND PRACTICAL SOLUTIONS
DOI:
https://doi.org/10.5281/zenodo.20958284Abstract
This article examines the theoretical and practical aspects of integrating ESG principles into the corporate
governance system of state-owned enterprises in Uzbekistan. Based on an analysis of national regulatory documents,
materials from international organizations, and public reports of large state-owned companies and state-owned banks,
the key barriers to ESG implementation are identified. These include legal and regulatory, institutional, organizational
and managerial, socio-cultural, and economic barriers. The article proposes a concise classification of these barriers and
develops a step-by-step roadmap for integrating ESG principles into the corporate governance of state-owned enterprises,
including short-, medium-, and long-term measures. It is concluded that the successful integration of ESG principles requires
a combination of regulatory improvements, institutional strengthening, human capital development, and the formation of a
sustainable development culture in the public sector.
Keywords
ESG principles, corporate governance, state-owned enterprises, joint-stock companies with state participation, state-owned banks, sustainable development, non-financial reporting, implementation barriers, UzbekistanReferences
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