Business programme

New Directions and Sources of Financing for the Green Agenda

03 Jun , 09:00–10:15
Joining Forces to Advance Development
Congress Centre, conference hall D2 (VEB Space)
In partnership with En+ Group

The COVID-19 pandemic has forced the entire world to rethink the concept of sustainable development, and most developed countries, particularly in the European Union, are basing economic recovery efforts on ESG principles with the objective of making the world a greener place. Under its Green Deal, the EU aims to achieve net-zero greenhouse gas emissions by 2050, and the called-for transition to renewables will cause a decline in demand for Russian energy resources. Indeed, under the baseline scenario, the EU’s carbon tax is expected to negatively impact the Russian economy to the tune of more than EUR 33 billion between 2025 and 2030. And despite a number of successful initial green finance bond launches by Russian issuers, Russia is only just beginning to implement ESG approaches. By 2023, green technologies could grow to become a RUB 3-trillion industry in Russia. However, sustainability projects, let alone climate-protection projects, are costly, and presently only offer low returns. It is therefore essential for Russia to establish a green finance system. With a national taxonomy in place, it would be possible to verify projects and attract finance from Russian and foreign investors.

Yermolai Solzhenitsyn, Senior Partner, McKinsey & Company

Lord Barker, Executive Chairman of the Board of Directors, En+ Group (online)
Elena Borisenko, Deputy Chairman of the Management Board, Gazprombank
Maxim Lapin, Chief Financial Officer, Member of the Executive Board, Moscow Exchange
Alexey Miroshnichenko, First Deputy Chairman, Member of the Board, VEB.RF
Oleg Mukhamedshin, Director for Strategy and Investor Relations, RUSAL
Ilya Torosov, Deputy Minister of Economic Development of the Russian Federation
Ksenia Yudaeva, First Deputy Governor, The Central Bank of the Russian Federation (Bank of Russia)

Front row participant
Maria Bagreeva, Deputy Chief of Staff of the Mayor of Moscow