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Russia will continue decarbonization

25 January 2023

Belogoryev Alexey M. Deputy Principal Director on Energy Studies, Director of the Center for Energy strategic analysis and forecasting
Тема: Energy

Alexey Belogoryev, Deputy Principal Director on Energy Studies of the Institute for Energy and Finance, commented on the prospects for decarbonization of the Russian economy to the Bulletin of the Caucasus.

As Alexey Belogoryev noted, decarbonization is a requirement of the time, without the implementation of which Russia will be gradually squeezed out of the world market.

"This is not a question of direct economic benefits, but of adaptation to global changes. Whether we want to or not, these changes will happen, and if we are not ready for them, we will lose a lot. By decarbonizing here and now, Russia is protecting itself from losses in the future, from the loss of export markets and its positions in international trade," he said first of all.

"In addition, Russia is one of the countries most potentially affected by global warming, especially when it comes to our northern regions – there are a lot of risks associated with changes in permafrost. This applies to Yamal, Taimyr, and other regions where there are quite large industrial productions – everywhere there are risks to industrial and transport infrastructure due to warming. That is, Russia is directly interested in decarbonization to ensure the security of the economy and the population," Alexey Belogoryev stressed.

"Yes, on the one hand, decarbonization is a huge waste, but it's still wrong to talk about it only in a negative way. After all, on the other hand, these are huge opportunities. We need to find our own technological niche here, where we can not only rebuild the industry, but also become a major manufacturer of machine tools and equipment for a low-carbon economy. It can be energy, and there is a big reserve for nuclear energy. There are prospects for both renewable energy and metallurgy, where Russian companies have quite strong positions," the economist said.

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