Russia to continue decarbonization efforts

Russia to continue decarbonization efforts

Transformation of the Russian economy towards carbon neutrality is still relevant, as well as key priorities in the climate sphere, Russian Economic Development Maxim Reshetnikov told the Sustainable Development Expert Council.

The Minister of Economic Development and Russian businessmen discussed their plans for a sustainable development and low-carbon goals for 2023. Particular attention was paid to the results of the 27th Conference of the Parties of the UNFCCC (COP 27) in Egypt, as well as plans for the next conference.

"The global trend towards a low-carbon economy continues," Reshetnikov stated. Russia has shifted its focus from Western to Eastern markets, but continues its decarbonization course, he noted. According to the minister, the key partners of the Russian Federation are actively following the climate agenda, as well as increasing the requirements for business. The Minister of Economic Development is confident that the development of domestic "green" technologies is now more relevant than ever.

All Russia's key climate priorities remain relevant. In two years, Reshetnikov said, the country has achieved some success: strategic documents have been adopted, basic legislation has been approved, infrastructure has been built for the implementation of climate projects, a register of carbon units and organizations involved in confirming the quality of projects have been created.

Russian business is also moving  towards a "green" direction, two climate projects have been organized in the country, as well as the carbon units market register has started functioning in Russia.