ESG RISKS AND CORPORATE ACCOUNTABILITY: GLOBAL LESSONS AND IMPLICATIONS FOR UZBEKISTAN

This article analyses the importance of ESG risk management and corporate accountability, drawing on global
cases to identify lessons relevant for Uzbekistan. The study examines how weak ESG oversight can generate regulatory,
financial, and reputational risks, using the Volkswagen Dieselgate scandal as a key example. The topic is timely given
Uzbekistan's growing integration into global capital markets and its adoption of ESG frameworks. The methodology is
based on a review of international best practices, regulatory standards, and comparative case analysis. Findings show
that effective ESG control mechanisms-particularly independent verification and strong corporate culture-significantly
reduce risks. The author concludes that building robust ESG governance is critical for strengthening investor trust and
long-term competitiveness. The novelty lies in connecting global ESG risk failures with Uzbekistan's institutional context
and outlining mechanisms to prevent similar vulnerabilities.