KP.RU: Common Rules for the Green Revolution

The first Ecumene 2021 Congress on Sustainable Finance was held in Moscow with the support of the UN. Representatives of major Russian companies, various departments, as well as domestic and foreign banks discussed the projects dedicated to the climate agenda up to 2030 and 2050. Discussions of experts focused on new economic models aimed at achieving sustainable development goals. One of the objectives of the Congress is to include Russia's position in the global agenda on this issue.

The changes that can cope with environmental problems in the coming years will affect all areas of the economy and industry and will require huge investments. But first of all, the Congress Speakers are sure, it is necessary to work out common international rules, to agree on the assessment of harmful impact and its compensation, and to unify the methodology all over the world.

This also applies to the energy industry, where there is also no consensus on which technologies should form the basis of change. During the session ‘Energy Industry in the Age of Energy Transition’ representatives of international industrial associations and major players in this industry shared their experience in adapting to the new reality. The experts talked about how nuclear power might become more accessible in the modern world, how hydrogen fuel might be actively used in industry, and even how familiar fossil fuels might become more environmentally friendly. The participants also discussed how ready the industrial giants are for the energy transition and how they are contributing to society's desire for a carbon-free future.

‘Norilsk Nickel has become one of the beneficiaries of this process. Our metals are needed to produce electric cars, wind turbines, and hydrogen-based generators. The transition to a green economy will require even more nickel, copper, palladium, and platinum. That's why we are investing in green growth’ commented Andrey Bougrov, Senior Vice President for Sustainable Development at PJSC 'MMC 'Norilsk Nickel'. - By 2025, we will cumulatively reduce our CO2 emissions by 350 thousand tonnes and sulphur dioxide emissions by 90%.

Such achievements are possible thanks to the company's systematic work on closing obsolete production facilities and modernizing assets. The company is developing its own fuel and energy complex. The share of energy consumed by production facilities in the Norilsk industrial region from renewable sources is now 55%. Due to the modernization of our hydroelectric power plants, we have reduced our CO2 emissions by 47 thousand tons over the last two years, as confirmed by an independent auditor. This allowed us to produce our first batch of carbon-neutral nickel in the amount of 5 thousand tons. Digital stock exchange instruments backed by this metal are already available for purchase on the Vienna Stock Exchange. The company is making a huge effort to supply the metals needed for the Green Revolution. And to promote the energy transition.

International Congress on Sustainable Finance: ECUMENE 2021 is supported by the United Nations. The general partner of the event is Gazprombank JSC.

Additional information is available at the following link.