Why is Russia in a hurry to create Working Groups on Climate

Sergey Kondratiev commented to the Plus-One news agency on the transition to a low-carbon economy in Russia.

Sergey Kondratiev, Deputy Head of the Economic Department of the Institute for Energy and Finance, told Plus-one.ru, that he considers the creation of climate groups a “right initiative,” and expressed confidence that Russia will have to expedite adapting the new rules of the game. “We see that the EU will start a full-fledged launch of a cross-border carbon regulation mechanism from 2026, the United States and China are considering similar mechanisms. Therefore, we may soon find ourselves in a completely different world, with a different structure of energy consumption and energy supply,” the expert said.

According to the economist, Russia, the majority of whose export earnings are formed by the supply of raw materials and petroleum products, should be extremely interested in being able to rebuild its economy in time. “The initiative to create 'climate' groups is extremely timely. Their formation and discussion of key tasks are taking place right before our eyes. Many plans have to be formed on the fly, we are noticeably lagging behind, and the first assessments should be prepared rather quickly - I think, that it is realistic to present the first adaptation scenarios by the beginning of 2022,” Sergey Kondratiev said.