Publication Details
Abstract
This study examines the economic valuation of natural capital and its role in achieving sustainable development in Uzbekistan. Natural capital, including land, water, forests, mineral resources, biodiversity, and ecosystem services, represents an important component of national wealth and provides essential inputs for long-term economic activity. The study focuses on the need to incorporate the economic value of natural resources and ecosystem services into development planning, investment decisions, and public policy. Particular attention is paid to the relationship between the efficient use of natural capital, resource productivity, environmental sustainability, and economic growth. The research considers methodological approaches to the economic valuation of natural capital, including resource-based valuation, ecosystem service assessment, and the integration of environmental indicators into economic analysis. The study also analyzes the relevance of natural capital valuation to Uzbekistan’s sustainable development priorities, particularly resource conservation, water efficiency, renewable energy development, biodiversity protection, and the transition toward a green economy. The findings indicate that systematic economic valuation of natural capital can improve the quality of public investment decisions, strengthen resource-management mechanisms, and support the transition from resource-intensive growth toward more sustainable economic development. Incorporating natural capital indicators into national planning and economic monitoring can also provide a more comprehensive assessment of development outcomes by considering not only conventional economic indicators but also changes in environmental assets and ecosystem capacity. The study concludes that the integration of natural capital valuation into Uzbekistan’s sustainable development framework can contribute to more efficient resource allocation, environmental resilience, and long-term economic sustainability.