The event was aimed at exploring the concept of ESG and the potential long-term competitive advantages and rewards that it can bring to businesses operating in Russia and discussing the topic of renewable energy development in Russia and its role in driving the clean energy and sustainable development agenda. 

 

Valery Kucherov, Chairman of the AEB SHES Committee, Partner, ERM, and Chris Mawer, Chairman of the Environment Sub-Committee, VP HSE & Engineering, BP Russia, co-chaired and moderated the panel. 

 

Alexey Zhikharev, Director at Russia Renewable Energy Development Association, and Chris Weafer, CEO at Micro Advisory, acted as guest speakers at the event.

The main conclusions of the discussion are as follows:

ESG is a relatively new concept in Russia but it is starting to gain traction. Russian companies are increasingly aware of the valuation impact of good ESG reporting. The EU's carbon tariff threat will also be a driver of investment in renewable energy. The coronavirus pandemic has accelerated scrutiny of Social policies everywhere, Russia included. Governance is still a problem in Russia. Sanctions are not helping to change that. The task of Russia is to stay in the global trend of the adopted course of transition to the prevalence of "green" technologies and a carbon-free economy.