Green energy transition more relevant than ever for Russia - Mishustin

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Prime Minister added that the Russian government is already actively developing a regulatory system and a financing system for launching climate projects

MOSCOW, October 18. / TASS /. The transition to renewable energy sources is more relevant than ever for Russia, said Prime Minister Mikhail Mishustin on Monday, at the meeting of the Foreign Investment Advisory Council (FIAC).

“Although Russia has taken a leading position when it comes to traditional energy, we are closely following the development of new directions. The transition to green energy for Russia is more than relevant,” Mishustin said.

He added that the Russian government is already actively developing a regulatory system and a financing system for launching climate projects, both for completely green ones like solar and wind energy, hydroelectricity, and for transitional ones related to associated petroleum gas, coal mine methane and coal, where technology is important for the preservation of the environment. He also recalled that a federal law on greenhouse gas emissions has already been adopted. “This is a foundational document for the launch of carbon regulation in Russia,” Mishustin said.

According to the Russian PM, the infrastructure for the Russian carbon market is also being formed. Currently, 17 regulations and two bills are in the works, which will make it possible to launch a system for the circulation of carbon units and climate projects. “We are restructuring entire regions and industries to a low-carbon development scenario, and in some cases we are achieving solutions to more ambitious tasks like the formation of carbon neutrality. The President set a specific target of no later than 2060. This is a great potential for the growth of new technologies and the formation of new industries. There are plans for the development of electric transport, hydrogen and nuclear energy in the works,” Mishustin said.

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