How VEB.RF shapes Russia’s climate and sustainability agenda - VIDEO

In an interview with News.Az, Sergey Storchak, Senior Banker at the State Development Corporation VEB.RF, outlined the corporation’s dual role in driving Russia's climate agenda. As a key player in the country's sustainable development efforts, VEB.RF acts as both a methodological center and an investor in climate-related initiatives.

"Our primary function is to serve as a methodological center for the Russian Federation in preparing taxonomies for climate and social projects," Storchak explained. These taxonomies guide the classification and assessment of initiatives, ensuring alignment with national and global sustainability standards.

The corporation's second crucial role lies in financing environmental and climate projects. "We are deeply involved in working with our clients on ESG policies. No project is accepted onto our balance sheet without a thorough review of its climate outcomes or potential contributions to decarbonization," Storchak noted. Projects that meet these stringent criteria proceed to the credit committee for detailed evaluation, focusing on climate risks and their alignment with Russia's decarbonization strategies.

Through these efforts, VEB.RF underscores its commitment to sustainable development and plays a pivotal role in implementing Russia's climate policy, ensuring that investments align with long-term environmental goals.

News.Az