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.