TASHKENT, Uzbekistan, December 26.
International rating agency Sustainable Fitch has assigned
Uzbekistan Airports an ESG Entity Rating of ‘3’ with an overall
score of 48, Trend
reports via Fitch.
The rating reflects an overall average sustainability profile,
supported by well-established governance structures, while also
identifying areas for improvement in environmental and social
practices.
Under the environmental pillar, the agency gave a positive
assessment of Uzbekistan Airports’ strategy to achieve net-zero
greenhouse gas emissions for Scope 1 and Scope 2 by 2050. The
report further highlighted initiatives aimed at reducing carbon
intensity and increasing the use of renewable energy sources.
In the social domain, the company earned favorable evaluations
for its comprehensive safety management system, low employee
turnover, and active stakeholder engagement. However, Sustainable
Fitch also noted areas of concern, particularly the limited gender
diversity at the senior management level and the absence of clearly
defined social or supply-chain targets.
From a governance standpoint, the agency described Uzbekistan
Airports’ arrangements as generally robust, emphasizing the
effective functioning of board committees, internal audit
procedures, and transparent remuneration systems. Nonetheless,
these strengths were partially tempered by issues such as limited
board independence, underrepresentation of women, and a qualified
audit opinion on the most recent IFRS financial statements.
The ESG rating from Sustainable Fitch is expected to bolster
Uzbekistan Airports’ ability to attract green financing, enhance
collaboration with international financial institutions and
partners, and improve access to capital on more favorable terms for
sustainable infrastructure projects.
Uzbekistan Airports is responsible for managing and operating
the country’s civil aviation infrastructure, overseeing a network
of 11 international and six domestic airports, as well as
subsidiaries specializing in ground handling, cargo services, and
personnel training. The company is wholly owned by the Republic of
Uzbekistan, represented by the Ministry of Finance, and is
headquartered in Tashkent.
