On 24 March 2026, the AEB Sustainability Committee and the AEB Health, Safety, Environment & Security Committee held a joint open meeting at the AEB Conference Centre in Moscow to discuss how businesses operating in Russia may use renewable and other low-carbon “energy attributes” and certificates (guarantees) of power origin.

Roman Ishmukhametov, chairman of the AEB Sustainability Committee and senior associate at Melling, Voitishkin & Partners, moderated the meeting. In his opening remarks, Roman noted that, contrary to some beliefs, the energy transition is continuing both globally and in Russia. Investment and the commissioning of new capacities are growing. International companies are maintaining their decarbonization and renewable energy transition goals, including in Russia.

Keynote presentation was made by general director of "Energy Certification Center" LLC - operator of Russia’s national registry of “energy attributes”, which underpin certificates (guarantees) of power origin.

The speakers and participants of the discussion agreed that deals entailing purchase of certificates must incentivize construction of new, or at least modernization of existing, power facilities (by generating an additional cash flow), rather than simply allowing companies to meet their carbon and other non-financial reporting targets. In that regard, it was discussed during the meeting that:

1. generating companies are considering to commit in their corporate policies to reinvest the proceeds from selling the certificates to finance their renewable power-related programs;

2. corporates willing “to go green” in terms of their power purchase (buyers of the certificates) may be interested in including such an obligation for power producers companies (sellers of the certificates) in certificates purchase agreements. Such agreements would create a greater "investment stimulus" and increase "bankability" of renewable power project, if such agreements are: 

(a) long-term in nature and involve regular sale and purchase of certificates over an extended period at a fixed price or based on a formula, as this would allow generating companies to generate a stable cash flow;

(b) made during the planning stage of new power generation construction and provide for the purchase of future certificates, also on a regular and long-term basis;

(c) made into with multiple buyers (a consortium). There are many examples in international practice where companies from the same industry (e.g., pharmaceuticals) or from several industries have formed such consortia. consortia can also be formed by suppliers of the companies keen to decarbonize their supply chain. A plurality of buyers can multiply the generator's cash flows from sales, allowing it to recoup a more substantial portion of the generation construction costs.