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Премия рунета 2017


02 november 2018
The possibility of issuing green bonds was discussed in Russia for the first time. The issues of responsible financing were considered by the Bank of Russia's Expert Council for Long-Term Investments. Ecologists told about the prospects of green financing from the point of view of economy and environmental activities. It turned out that environmental investments can be pay off and bring profit.

Discussing the green economy is not new for Russia, however, it was the first environmental discussion in this way. Together with economists and businessmen WWF employees considered ecology as the area for serious long-term financial investments. The main document prepared by the ESG-finance team was the Diagnostic Memo "Green Finance: Russia's Agenda". It analyzes the global economy trends and assesses the existing market volume. Given this, businesspersons are offered ways and steps to launch the market of green bonds in Russia.

"It might seem that the meeting was just another discussion on green finance, but in fact it had at least three results. First, a list of Russian terms was made, so in future all will speak one language. This document can be used to 'teach' both the financial market and public officials. Second, it became clear that green bonds may appear without any special regulation, though the emergence of some special programs of support on the part of the government is likely to follow – these are two vectors that may well develop simultaneously. The third important result is the willingness of the participants to make a pilot launch," Mikhail Babenko, Director of Green Economy, WWF Russia, summed up.

By way of an example, experts provided figures reflecting the financial capabilities that exist in the world to develop green sectors, which do not include Russia yet.

Network renewable energy sources (RES) — $6 trillion by 2040.
Isolated RESs — $25 billion in 2025.
Green structures — $300 billion annually.
Investments in green transports will grow up to $900 billion by 2025.
Investments in the water treatment infrastructure — $13 trillion by 2030.

The Bank of Russia shares the importance of raising environmental investments and is prepared to issue environmental bonds. We cannot tell that nothing is being done in Russia – there are RES projects and the Volga purification project. However, we should understand that ecologists and economists still have a number of important tasks to address: create other prospective eco-projects to raise investments, on the one part, and show the business their profitability, on the other part. If the idea of green bonds gets widespread, we can expect not only new opportunities for raising foreign investments, but also, which is more important, the development of environmental responsibility of the Russian business supported on a state level.

Text: Mikhail Klimenko 
Photo in the announcement: (c) Yury Yurkin / WWF Russia.

For additional information please contact
Green economy programme director