Russia to roll out national green finance standards

Photo: Maksim Stulov / Vedomosti / TASS

Russia is on course to receive national rules and standards for green financial instrument verification. This follows from the Concept of Building a Methodological Framework in Russia to Advance Green Financial Instruments and the Responsible Financing Projects, drafted by the Expert Council for the Long-term Investment Market attached to the Bank of Russia.

Globally, green finance has been in particular focus of late. Unlike other initiatives, environment- and climate-friendly projects involve an independent check for compliance with green finance principles and standards. Furthermore, there are special requirements for information disclosure and cash flow segregation. To realise its national green finance agenda, Russia currently has to adopt the terms elaborated by other countries.

According to the Guidelines for the Development of the Russian Financial Market in 2019–2021, Russia shall have to fit into global processes and work through the issues related to creating national financial instruments and establishing a methodological and verification system for domestic financing instruments.

14 October 2019

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