Greening finance in Russia for a post-COVID future

A statement by Alexey Miroshnichenko of VEB.RF detailing the development of a Russian Green Finance Standard designed to attract private investment for environmental projects, specifically to support the government's "Ecology" national project.

• The Russian government implemented the "Ecology" national project from 2018 to 2024 with goals including the liquidation of 191 illegal garbage dumps, reprocessing 60% of solid communal waste (up from 3%), reducing air pollution in big urban centers by 20%, and restoring the ecosystems of the Volga and Lake Baikal.
• The "Ecology" program has a total cost exceeding 4 trillion Rubles (approximately 50 billion Euros), with the government providing 800 billion Rubles and the remainder required from domestic and foreign private markets.
• VEB.RF is developing a Russian Green Finance Standard based on ICMA and CBI international criteria to facilitate private investment. The standard will exclude new coal projects and establish carbon emission thresholds for sectors including energy production, transport, forestry, and waste management.
• To stimulate the currently underdeveloped green bond market—which had only five registered issues totaling approximately 80 million Euro on the Moscow stock exchange as of November 2019—the national standard will introduce coupon subsidies, tax breaks, and verification process subsidies.
• VEB.RF has invested $1.7 billion in four waste-to-energy plants in the Moscow region using Hitachi Zosen Inova technology. Expected to be operational by the end of 2022, these plants aim to process 2.8 million tons of garbage annually, representing 35% of the region's waste.

APA

Miroshnichenko, A. (2020). Greening finance in Russia for a post-COVID future. Green Economy Coalition. https://www.greeneconomycoalition.org/news-and-resources/greening-finance-in-russia-for-a-post-covid-future

Chicago

Miroshnichenko, Alexey. Greening finance in Russia for a post-COVID future. Green Economy Coalition, 2020. https://www.greeneconomycoalition.org/news-and-resources/greening-finance-in-russia-for-a-post-covid-future.

Wikipedia

{{cite press release |last1=Miroshnichenko |first1=Alexey |title=Greening finance in Russia for a post-COVID future |publisher=Green Economy Coalition |date=14 April 2020 |url=https://www.greeneconomycoalition.org/news-and-resources/greening-finance-in-russia-for-a-post-covid-future |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{miroshnichenko2020greening, author = {Miroshnichenko, Alexey}, title = {{Greening finance in Russia for a post-COVID future}}, publisher = {Green Economy Coalition}, year = {2020}, month = apr, url = {https://www.greeneconomycoalition.org/news-and-resources/greening-finance-in-russia-for-a-post-covid-future}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }