Environmental outcomes of the BRICS summit
August 22-24 Johannesburg (South Africa) hosted the XV BRICS summit, an informal association of five rapidly developing countries: Brazil, Russia, India, China and South Africa. The Russian delegation at the event was headed by Foreign Minister Sergei Lavrov, and the President of the Russian Federation addressed the participants in the VKS format. One of the main topics was the discussion of the development of cooperation within the framework of the BRICS in the field of decarbonization of the economy, reducing the anthropogenic impact on nature and adapting to climate change.
In his address, Vladimir Putin noted that Russia is implementing its own national low-carbon development strategy: the country intends to achieve carbon neutrality of the economy no later than 2060. The President also stressed that a variety of technologies can contribute to the achievement of climate goals, including nuclear generation, hydropower and gas motor fuel.
Vladimir Putin, President of the Russian Federation: “We plan to achieve carbon neutrality of the Russian economy no later than 2060, including through the introduction of technological innovations, modernization of infrastructure for access to affordable and clean energy, conservation of ecosystems on land and sea” .
As part of the summit, the BRICS New Development Bank (NDB) announced plans to issue rupee-denominated bonds in the amount of $2.5 billion to finance the organization's projects, including in the field of ecology.
Olga Kalyuzhnaya, President of the Russian Forest Association: “ESG agenda remains an important topic for Russian business even in the context of reorientation to the domestic market, because it is about the social and environmental well-being of our country. In June this year, issues of carbon regulation and the climate economy were actively discussed at the St. Petersburg International Economic Forum. So, for example, the Moscow Exchange and the Russian Climate Partnership, an association of the largest Russian industrial, energy and financial companies, agreed on the development of the carbon unit market..
Recall that in 2024 Russia will chair the BRICS.