4 September 2024
Environmental and energy issues are becoming
cornerstones for entrepreneurs who are concerned about the planet’s future.
Businesses are working to reduce emissions by developing green technologies and
sustainable financing systems. New initiatives aimed at adapting to changing
climate conditions are emerging. These steps not only help protect the
environment, but also open up new horizons for economic growth and sustainable
development. That was the conclusion reached at a session entitled Adaptation
to Climate Change: Challenges and Opportunities for Business, which took place
as part of the Eastern Economic Forum.
KEY CONCLUSIONS
Climate change is a key issue for all of humanity
“Regardless of where we live or which
resource- or tourist-based economy we work in, climate change affects us all in
one way or another. That’s the crucial aspect. And only when the last animal or
fish disappears will we truly realize that we can’t eat money. That’s why it’s
essential to address this today,” Sergey Machekhin, Deputy General Director for
Project Engineering, Sustainable Development and International Cooperation,
RusHydro.
“We need to find solutions that will help us
tackle the challenges we face in the moment. There is an entire market for
these solutions, called greentech. The global greentech market is currently
worth around USD 4.5 trillion, and is growing by close to 30% annually. It is
forecast to reach nearly USD 10 trillion by 2030,” Tatiana Zavyalova, Senior
Vice President for ESG, Sberbank.
“There are not only risks for businesses,
but also opportunities that can be leveraged and capitalized upon,” Sergey
Zhuravlev, Vice President of Government Relations, Polyus.
Russia is addressing the need to adapt its economy in
the face of climate change
“We offer products that at worst slow down
climate change, and at best prevent it completely. That is because nuclear
energy is the cleanest form of energy available to humanity today. Suffice to
say, Russia’s current nuclear power plants prevent around 100 million tonnes of
CO2 emissions into the atmosphere each year. This is comparable to
the entire output of the country’s metallurgical industry. We are naturally
proud of these results. That said, we need to think more about CO2,”
Kirill Komarov, First Deputy General Director, Director of the Development and
International Business Unit, ROSATOM State Atomic Energy Corporation.
“Norilsk Nickel is no less of a green brand
than Sberbank, because our basket includes metals (platinum, palladium) which
make a future green economy possible. This includes hydrogen power, electric
vehicles, and charging infrastructure. We won’t be able to create a cleaner
world as a whole without these metals,” Dmitry Pristanskov, State Secretary –
Vice President, Norilsk Nickel.
PROBLEMS
Climate change has had a significant impact on the
Russian and global economies
“According to data extrapolated from long-term
observations by the Federal Service for Hydrometeorology and Environmental
Monitoring, the average annual surface air temperature in Russian territory has
been increasing by about 0.5 degrees every ten years since the mid-1970s. The
temperature increase has accelerated by 0.04 degrees since 2019, which is 2.8
times faster than the global average. What’s more, in the Russian Arctic, the
increase in average annual air temperature is 3.9 times the global average,”
Marina Kim, Deputy of the State Duma of the Federal Assembly of the Russian
Federation; TV presenter, journalist.
“The change in temperature – at least in
Russia – has led to an increase in adverse climate events from 150 to 400–450
per year, all of which have specific negative economic consequences.
<...> By 2030, losses [from these events – ed.] in Russia alone
will amount to at least RUB 12 trillion – that’s a fairly significant figure.
And things are no better elsewhere in the world,” Tatiana Zavyalova, Senior
Vice President for ESG, Sberbank.
“Today, the world is indeed changing, and we
are witnessing not only changes to the climate across the globe, but also
shifts in how we respond to them. <...> We are having to change our
operational models and corporate behaviour models, including within the ESG
framework,” Sergey Machekhin, Deputy General Director for Project Engineering,
Sustainable Development and International Cooperation, RusHydro.
An increasing strain on ecological equilibrium due to
the rising global population
“The global population stood at around 6
billion at the turn of the century. Now it’s about 8 billion, and by 2050, it’s
expected to reach around 10 billion. Urbanization is also growing – more than
half the world’s population now live in cities, and by 2050, this figure will
increase to about 70%,” Marina Slutskaya, Director of the Sustainable
Development and International Cooperation Unit, DOM.RF.
“Today, unfortunately, the scientific
potential of the last century is virtually exhausted. First of all, technology
has changed drastically. Secondly, the global climate has indeed changed, and
this is due to both human activities and natural changes,” Sergey Machekhin,
Deputy General Director for Project Engineering, Sustainable Development and
International Cooperation, RusHydro.
“When we talk about climate risks, we need to proceed
from at least a 10-year horizon. <...> We need data, and right now we are
basically missing standardized data on things concerning, say, risk factors
which could be linked to specific territories. This data must be uniform,” Igor
Korotetskiy, Head of the Group for the Provision of Services in the Field of
Operational Risks and Sustainable Development, Kept.
SOLUTIONS
Ensuring Russia pursues its own sovereign path in
addressing climate challenges while taking into account global trends
“The climate doctrine, both across the globe
and in Russia (where it has already been adopted at the legislative level) is
of course not about making money. But it’s important not to lose money either.
<...> We should keep pace with global trends, but not lose sight of the
fact that we are traversing our own sovereign path of development. This
concerns the structure of the fuel and energy sector, the research and design
complex, and the industrial cluster. <...> We do have our own sovereign
path, and it is very important to understand that. Abandoning traditional
methods of generation in our country – whether coal or mixed generation – is a
path to nowhere. At the same time, it is crucial to understand which tools and
mechanisms should help make various kinds of generation cleaner,” Sergey
Machekhin, Deputy General Director for Project Engineering, Sustainable
Development and International Cooperation, RusHydro.
“We already have an approved climate change
policy and an updated corporate strategy concerning the environment and climate
change. <...> Adapting to climate change is of course primarily about
identifying and minimizing risks and having a capable monitoring system,
particularly when it comes to industrial sites,” Dmitry Pristanskov, State
Secretary – Vice President, Norilsk Nickel.
“A decision was made by President Vladimir
Putin and the government that the share of nuclear energy in our country, which
currently stands at 20%, should increase to 25% by 2045. We are set to build
several dozen new nuclear reactors… For the first time, we will look East of
the Ural Mountains, and we will begin constructing nuclear reactors in the Far
East as well, since economic growth is contingent on more energy. Our main
contribution to this area is nuclear power itself,” Kirill Komarov, First
Deputy General Director, Director of the Development and International Business
Unit, ROSATOM State Atomic Energy Corporation.
Improving regulatory mechanisms and ensuring that
efforts to manage climate change remain free from political influence
“As we see it, there is a lack of certain regulatory
and incentive mechanisms – with an emphasis on the second part – aimed at
ensuring that the corporate sector begins to systematically address climate
risk management and develop adaptation plans accordingly. Probably the most
appropriate, straightforward, and market-driven mechanism would be
incorporating climate risks into the banking system. The Bank of Russia is
already moving in this direction. The second mechanism consists of making the
corporate sector report on climate risks. In this respect, I believe that
aligning with international standards is the right course of action,” Igor
Korotetskiy, Head of the Group for the Provision of Services in the Field of
Operational Risks and Sustainable Development, Kept.
Countries in the Western economic alliance –
let’s call it that – invariably try to politicize this issue. <...>
Aspects as vital as climate change management should be free from political
influence. That is the first point. And secondly, they should serve as an
economic instrument, or at least an economic bridge to develop partnerships,”
Sergey Machekhin, Deputy General Director for Project Engineering, Sustainable
Development and International Cooperation, RusHydro.
“This endeavour is an objective necessity
for us – and the numbers are there to prove it. Last year alone, we invested
around RUB 339 billion in projects related to the United Nations’ sustainable
development goals. That’s a colossal sum.” Dmitry Pristanskov, State Secretary
– Vice President, Norilsk Nickel.
* This is a translation of material that was
originally generated in Russian using artificial intelligence.
For more information, visit the Roscongress
Foundation’s Information and Analytical System at roscongress.org/en