Russia’s corporate sector is increasingly prioritizing stronger governance, greener operations, and lower carbon footprints as it seeks broader collaboration with BRICS partners on environmental initiatives. These themes were emphasized by Tatyana Zavyalova, Senior Vice President for ESG at Sberbank, during a session titled “Climate Agenda for Business: Risks and Opportunities” at the BRICS Climate Agenda in Modern Conditions forum.
Volume managers at Sber note that Russia’s domestic market faces several headwinds, including ongoing infrastructure development, tighter climate and environmental regulations, and a steady push toward new regional markets. The emphasis is especially strong on expanding trade and economic cooperation with BRICS nations, a trend that matters to investors and businesses across Canada and the United States seeking green collaboration and fresh market access.
Zavyalova highlighted a global shift in how sustainable development and ESG are understood. The core message is that the world is reassessing corporate responsibility in light of climate realities and the need for resilient business practices.
Two main drivers underpin this shift. First, ESG-related risks rise as climate change intensifies, potentially triggering financial losses. For about three years, Sberbank has been building capabilities to assess physical and climate risks and to apply these models across its operations. Effective risk management tends to reduce costs and boost resilience, a lesson that resonates with North American partners focused on risk-adjusted growth.
Second, the bank emphasizes growth and long-term value for its partners. By leveraging AI tools to evaluate climate risks and their potential impacts, Sberbank helps clients sharpen both tactical and strategic planning to stay ahead of shifts in the climate landscape. This approach is particularly relevant for companies in Canada and the United States seeking proactive risk analytics and sustainability-driven opportunity framing.
Adaptation to climate change is identified as a critical second axis. Sber recognizes that meeting climate challenges calls for new technologies. This fuels the expansion of the Green Technology sector, a market globally estimated at about €5 trillion today and growing around 20–30 percent annually. Projections point toward the market approaching €12 trillion by 2030, signaling substantial opportunities for innovation, manufacturing, and investment that cross borders into North America.
Within Russia’s high-tech sphere, the green project pipeline is forecast to reach a sizable volume, with estimates ranging from 7–13 trillion rubles by 2030. These figures reflect the scale of anticipated transformations across sectors and the demand for sustainable, tech-enabled solutions that lower environmental impact while improving efficiency and competitiveness.
During discussions, colleagues from BRICS partner banks and firms supported the idea of creating a single business platform for exchanging GreenTech solutions. The aim is to accelerate knowledge sharing, standardize best practices, and broaden access to green finance, ensuring faster deployment of climate-positive innovations across the region and opening doors for cross-border collaborations with North American markets.
Experts noted that collaboration within BRICS can accelerate the adoption of climate risk assessment tools, energy efficiency measures, and sustainable procurement practices. By combining expertise and aligning incentives, member economies can better withstand climate shocks and pursue shared prosperity through responsible growth. The forum underscored the importance of transparent governance, robust risk management, and ongoing improvement in ESG performance as foundational pillars for future success.
In summary, the movement toward stronger corporate governance, greener operations, and cross-border GreenTech partnerships is gaining momentum in Russia and among BRICS peers. With strategic use of AI-driven risk analytics and a steady stream of green investment, the region is positioning itself to meet climate targets while maintaining economic vitality. This approach aligns with broader international trends toward sustainable finance and climate-resilient development, signaling substantial opportunities for businesses, policymakers, and investors in Canada, the United States, and beyond. [Source: BRICS Climate Agenda in Modern Conditions, climate-focused forums, and Sberbank’s ESG leadership].