Ministry of Economic Development: low-carbon development strategy to be reviewed subject to sanctions
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The delay in the adoption of the low-carbon development strategy plan for Russia until 2050 is due to its revision taking into account anti-Russian sanctions, Moscow expects to attract Chinese and Arab investors, declared RBC Ilya Torosov, First Deputy Minister of Economic Development of the Russian Federation.
“In the international arena, we have said that restricting access to low-carbon technologies is counterproductive. And now, together with the sectoral ministries, we are working on the inclusion of measures to limit the impact of sanctions on the domestic energy transition,” Torosov said.
The official called the task of the authorities the transition from Western investments to their own financial institutions and investments from friendly countries. According to him, we are talking about attracting Chinese and Arab investors, and issues of climate cooperation are on the agenda of intergovernmental commissions, including those with India and China.
In November 2022, experts from the Institute for Economic Forecasting (INP) of the Russian Academy of Sciences stated in their report that sanctions restricted Russia’s opportunities to reduce greenhouse gas emissions. In their opinion, Russia will not be able to implement some of the measures to decarbonize the economy due to the restrictions imposed. By 2050, CO2 emissions will decrease to 1.119 billion tons instead of 630 million tons of CO2 planned by strategic documents. Thus, Russia’s potential to reduce greenhouse gas emissions will be reduced by about half.
The introduction of sanctions will require a revision of plans to reduce emissions, since decarbonization largely depends on imported equipment and technologies, including from unfriendly countries, the supply of which to Russia is limited, the author of the study explained to Vedomosti. Dependence on imported equipment and technologies necessary for decarbonization in the oil sector is 55%, in the coal industry – 45%, in the power industry – 31%, experts estimated. The implementation plan for the low-carbon development strategy will be adjusted taking into account the sanctions and new realities, the representative of the Ministry of Economic Development noted. At the same time, the goals set by the president to achieve carbon neutrality are maintained, he added.
Analysts of the School of ManagementSkolkovo” Also came to the conclusionthat the forced change in supply chains after the introduction of anti-Russian sanctions led to an increase in greenhouse gas emissions during the delivery of goods, Vedomosti wrote in September. Experts pointed out that the closure of the airspace of a number of foreign countries for Russian airlines and the Russian airspace for aircraft from unfriendly states, as well as delays in the supply of goods and the refusal of Russian transit “make a large-scale contribution to negative climate effects” not only for Russia, but for the whole peace.
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