Business programme

Transition Finance: Unlocking Opportunities for Energy Transition in BRICS

06 Jun , 11:00–12:15
The Transition to a Multipolar World Economy
Congress Centre, zone E, conference hall E12
In partnership with Gazprombank

One possible option for achieving climate goals is to promote transition finance practices that help direct cash flows to projects to modernize industries and businesses with high greenhouse gas emissions. Today, BRICS countries actively support the movement to reduce emissions in traditionally carbon-intensive sectors: in September 2021, Russia adopted the Taxonomy of Adaptation (Transition) Projects, while China already has seven regional taxonomies of transition projects. The general approaches were proposed based on China’s initiative and at the G20. The development of transition financing for BRICS and the subsequent achievement of a climate effect is only possible with the trust of market participants, which can be ensured by creating uniform rules and a common system of indicators. What should the joint approaches to transition financing look like? How do existing approaches differ in individual countries? How is transition financing viewed by industrial companies, which will potentially be able to issue financial instruments based on uniform standards?

Moderator
Ekaterina Salugina-Sorokovaya, First Vice President, Gazprombank

Panellists
Alexey Vostokov, Chief Executive Officer, Polyus
Vuk Jeremic, President, Sixty-Seventh Session of the United Nations General Assembly
Alexey Kulapin, General Director, Russian Energy Agency (REA) of the Ministry of Energy of Russia
Alexey Miroshnichenko, First Deputy Chairman, VEB.RF
Ramon Pichs-Madruga, Vice-Chair, Intergovernmental Panel on Climate Change (IPCC); Director, Senior Researcher, Centre for World Economy Studies (CIEM)
Rita Roy Choudhury, Managing Partner and Chief Executive of Climate Change & Sustainability Services Business, ECube Investment Advisors (online)
Andrey Slepnev, Member of the Board, Minister in Charge of Trade, Eurasian Economic Commission
Ilya Torosov, First Deputy Minister of Economic Development of the Russian Federation
Alexander Shenderyuk-Zhidkov, Senator of the Federation Council of the Federal Assembly of the Russian Federation; Deputy Chairman of the Federation Council Committee of the Federal Assembly of the Russian Federation on Budget and Financial Markets

Broadcast