Russian business needs to improve its corporate governance system, introduce more environmentally friendly processes, reduce carbon dioxide emissions, carbon intensity of goods and business, and develop cooperation with BRICS countries in this area. This opinion was expressed by Sberbank’s Senior Vice President for ESG Tatyana Zavyalova at the business session “Climate Agenda for Business: Risks and Opportunities” during the forum “BRICS Climate Agenda in Modern Conditions”.
According to the volume manager of Sber, today the domestic market is influenced by many factors, including the process of continuous infrastructure creation, the process of tightening of regulations in the field of climate and ecology, the continued focus on new markets in trade and economic cooperation, primarily with the BRICS countries.
Tatyana Zavyalova noted that the world is completely reconsidering the values and structure of sustainable development and ESG.
“From our perspective, we see two main ways to explain why we do this. The first way is ESG risks. The climate is changing, and this leads to serious financial losses. For about three years now, we have been developing systems for assessing physical and climate risks and actively using these models at Sberbank,” Zavyalova said.
He explained that when a company effectively manages risk, it reduces costs.
“We are also interested in the growth and development of the business. That is why we help our partners implement and use our AI systems to assess climate risks and potential impacts, allowing them to adjust their tactical and strategic plans,” he added.
Zavyalova called adaptation the second direction.
“Sber understands that working with climate change adaptation and mitigation requires new technological solutions; this is the growing Green Technology market worldwide, currently estimated at €5 trillion and growing at 20-30% annually. It is predicted that by 2030 this figure will approach €12 trillion,” he said.
Zavyalova also reported that the volume of green projects in the field of high-tech industry in Russia is estimated at 7-13 trillion rubles by 2030.
Also, Sberbank’s senior vice president for ESG recalled that colleagues from the BRICS countries supported the bank’s proposal to create a single business platform for exchanging solutions in the field of GreenTech.
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Source: Gazeta
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