ESG DISCLOSURE PRACTICES AMONG EMERGING MARKET FIRMS: A CASE STUDY OF UZBEKISTAN

Environmental, Social, and Governance (ESG) disclosure has become an important element of corporate transparency, sustainable development, and responsible business management. In emerging markets, ESG reporting plays a particularly significant role in attracting foreign investment, strengthening corporate governance, and improving companies’ competitiveness in international markets. This article examines ESG disclosure practices among firms operating in Uzbekistan, focusing on the development of sustainability reporting, regulatory frameworks, corporate transparency, and the challenges faced by local enterprises. The study highlights the growing importance of environmental responsibility, social accountability, and effective governance in Uzbekistan’s transition towards a sustainable market economy. It also explores the role of international ESG standards, including the Global Reporting Initiative (GRI) and International Sustainability Standards Board (ISSB), in improving the quality and comparability of corporate disclosures. The findings suggest that although ESG awareness is increasing among Uzbek companies, significant improvements are still needed in data collection, reporting consistency, independent verification, and stakeholder engagement.