Tadzio Schilling: for 64% of Top Managers, the ESG Agenda is One of the Top 3 Areas of Development

On September 29, within the International Congress on Sustainable Finance: Ecumene 2021 with the support of Sber a session entitled ‘Sustainable Development and Capital Flows: Bridging Climate and Finance’ was held where CEO of AEB Tadzio Schilling made his presentation.

The discussion was moderated by Alexander Vedyakhin, First Deputy Chairman of the Executive Board of SberBank.

The speakers were: Clara De La Torre, Deputy Director-General of the European Commission, DG Climate Action; Grant Kirkman, Team Lead (Climate Finance), United Nations Framework Convention on Climate Change (UNFCCC); Andrei Marcu, Founder and Executive Director, The European Roundtable on Climate Change and Sustainable Transition (ERCST); Vladimir Kuznetsov, Director of United Nations Information Centre in Moscow, Chairman of the UN Country Team in Russia; and Tadzio Schilling, CEO of the Association of European Businesses (AEB).

During the discussion, the speakers discussed the challenges and opportunities in the context of climate change for the international and Russian economies, as well as the role of financial institutions in financing ESG-transformation and transition to sustainable development. They discussed such issues as the distribution of tasks of international organizations, governments, companies and financial institutions in the upcoming economic transformation; system and sources of climate finance; necessary actions for launching investment processes in climate projects; risks in financing green projects and others.

Tadzio Schilling emphasized in his speech that, according to the survey results, Russian business is already ready to implement sustainability initiatives: for 64% of top managers, the ESG agenda is among the top 3 directions of development.

He also spoke about the most promising green investment projects in Russia, including the hydrogen cluster project on Sakhalin Island, and urged the regulators to find approaches that would allow business to actively invest in the green economy.

The discussion was especially topical in the run-up to the November The COP 26 UN Climate Change Conference in Glasgow.

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