Table 2. World primary energy demand by fuel type

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Table 2.
World primary energy demand by fuel type
Year
Energy carrier
2020
2040
2020-2040
Milliontoe
%
Milliontoe
%
%
Oil
4336
32,6
4836
26,9
11,5
Coal
3732
28,2
3762
20,9
1
Gas
3204
24,2
4707
26,2
46,9
NPP
592
4,4
912
5,1
54,1
HPS
910
6,8
1241
6,9
36,4
Other RES
502
3,8
2527
14
503,4
World
13 276
100
17 985
100
35,4
Although trends show that the energy industry is moving away from traditional fossil fuel
sources to renewable energy sources, some questions still remain regarding the scale and timing of
this transition.
Today, the share of energy sector enterprises leading innovative developments and actively
implementing them is about 10%. In developed countries of Europe, the USA and Japan, this
percentage is much higher - about 80%, which guarantees them clear competitive advantages in the
market. This explains the high share of the USA (39%), Japan (30%) and Germany (16%) in the total
volume of exports of knowledge-intensive products. In this regard, the state has a critical role to play
in increasing the innovative activity of domestic enterprises, which requires huge and regular
investments.
In the modern energy sector around the world, large companies and transnational corporations
are introducing the principles of green development into their activities. They share the Sustainable
Development Goals and adhere to its principles. In turn, countries that have chosen the path of green
growth attract the attention of international organizations and the business community, as well as
foreign investors and creditors. Uzbekistan's transition to a green economy is an important signal to
the world community.
Green investment systems are particularly popular in economies around the world. Despite
this, the concept of “green projects” is considered without any specific features. At the same time,
the development of a classification of green projects, called “taxonomy,” is increasingly on the
economic news agenda.
The “green” taxonomy is a classification of projects that qualify for investment in the form of
“green” bonds and loans, developed by authorized bodies.
The main purpose of the Green Taxonomy is to serve as a nationally tailored classification of
activities for use in green finance, in particular the process of issuing green bonds and issuing green
loans. The taxonomy takes into account multi-dimensional environmental benefits as a defining
standard, and when defining a project as "green", special attention must be paid to environmental
benefits in terms of greenhouse gas emissions reduction, pollution reduction, resource conservation
and environmental protection.
A real breakthrough in the implementation of green technologies is observed in connection
with the use of a rapidly spreading rating system in three areas of the so-called ESG (Environment,

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Social, Governance). The quantification of their individual elements and the resulting ESG ratings
are considered by many to be an extension and even the next level of sustainability assessment. Banks
and investment funds are increasingly taking ESG criteria into account when making decisions on
project financing, and leading companies are switching production to environmentally friendly
technologies.
Research and analytics in ESG (environmental, social, governance), which is the most time-
consuming requirement of industry expertise, is required as well as the latest industry expertise to
create a taxonomy. In addition, taxonomies should first of all take into account all national
characteristics and direct innovation policy towards green investment.

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