Uzbekistan's Karakalpakstan region plans to launch a carbon credit mechanism within a month, aiming to generate $50 million to $100 million in annual revenue. President Shavkat Mirziyoyev announced the initiative at a development meeting in Nukus, instructing officials to set up the domestic system and negotiate exports with countries like Japan, Korea, the US, and the UK. The proceeds would stay in the region, supplementing infrastructure funds. The plan also includes a forest carbon credit program on 50,000 hectares in the Aral Sea region by year-end. Karakalpakstan has already added 860 MW of renewable capacity and reached 23% green energy share, with a target of 76% by 2030. The carbon credits from green energy and forestry are seen as additional revenue streams, though details on verification standards and international compliance remain to be clarified.
