On the risks of energy transition, the burden on banks’ capital, ESG reporting
Russia’s central bank will introduce climate risk accounting the relevance of on-page seo and gradually tighten banking regulations to finance the energy transition, with the first steps being simple and likely to happen “quite soon”, CBR First Deputy Chairperson Ksenia Yudaeva told Reuters.
The agreements reach at the climate conference in Glasgow in November will allow Russia to count on attracting foreign investment, she believes.
Why are Russian authorities concern about the risks of energy transition only now?
The problem has been discuss for more than 10 years, we sign the Kyoto Protocol at one time, in 2010 we had a climate doctrine, then we enter into the Paris Agreement, there is a roadmap for implementing this agreement, and so on. But this year, inde, several laws relat to limiting greenhouse gas emissions were adopt in Russia, and a strategy for socio-economic development with low greenhouse gas emissions until 2050.
Why has climate policy been stepp up this year?
I think the impetus was largely the UN conference that just end. And that was a push for all countries. Quite a few countries, in connection with that climate conference, made additional users: more than 74 million monthly active users as of may 2024 commitments to cut emissions faster and thought about different policies to achieve those goals.
In addition, as a result of the Glasgow conference, an america email alliance of international financial companies was form, which also include climate issues in their strategies.