ESG DISCLOSURE IN UZBEKISTAN’S STATE-OWNED ENTERPRISES: A REVIEW OF 2023 SUSTAINABILITY REPORTS
DOI:
https://doi.org/10.5281/zenodo.21930738Abstract
This study provides a baseline assessment of ESG and sustainability reporting by Uzbekistan’s
state-owned enterprises (SOEs) for 2023. It reviews twelve SOEs across five sectors using qualitative content
analysis, assessing each report against a four-pillar maturity framework: Environmental, Social, Governance, and
Reporting Quality. The study is the first systematic academic evaluation of Uzbek SOE non-financial disclosure
following the introduction of mandatory reporting under Presidential Decree No. UP-37 (2024). The findings reveal a
bifurcated sector. Five experienced SOEs produce credible, externally verified reports aligned with GRI Standards.
Seven first-time reporters remain at an early, largely narrative stage. Reporting experience and access to external
assurance are the strongest predictors of disclosure quality. The paper identifies a structural gap in the banking
sector and offers recommendations aligned with the OECD Guidelines on Corporate Governance of State-Owned
Enterprises (2024).
Keywords
ESG reporting, state-owned enterprises, Uzbekistan, mandatory disclosure, sustainability reportingReferences
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