THE ROLE AND IMPORTANCE OF BIOLOGICAL ASSETS AS AN ECONOMIC RESOURCE AND A COMPONENT OF THE GREEN ECONOMY IN UZBEKISTAN
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Keywords: biological assets, green economy, sustainable development, ifrs 41, environmental accounting, natural capital, carbon sequestration, agricultural gdp, forest management, biodiversity conservation, eco-efficiency, ecosystem services##article.abstract##
This paper investigates the essence and significance of biological assets as both economic resources and core components of the green economy. Biological assets—such as forests, orchards, plantations, and livestock—are shown to possess dual value: they generate measurable economic output and provide critical ecosystem services, including carbon sequestration, biodiversity preservation, and soil regeneration. The study emphasizes that sustainable management and standardized accounting, particularly through IFRS 41 – Agriculture, are essential for capturing the true value of biological assets in national financial systems. Using case studies from countries like Uzbekistan, Kenya, Brazil, and Indonesia, the paper demonstrates how biological assets contribute to GDP, enhance rural livelihoods, and support climate mitigation goals. Furthermore, the carbon sequestration capacities of different asset types are analyzed, underscoring their environmental relevance. The paper concludes by advocating for integrated accounting, policy reforms, and institutional support to unlock the full economic and ecological potential of biological assets within the framework of the green economy.
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