Russia has outlined targets to cut greenhouse gas emissions by 30% from 1990 levels by 2030 and by 80% by 2050. These benchmarks were presented at a conference reception titled National Climate Change Monitoring Network: Benefits for Business, Benefits for the State, held during COP 28 in Dubai. Ilya Torosov, the Deputy First Minister for Economic Development of the Russian Federation, highlighted these goals while discussing climate strategy on the international stage.
Torosov added that the ambition extends further, with a commitment to achieve carbon neutrality by 2060. This longer horizon underscores an emphasis on decarbonisation that balances environmental objectives with economic considerations and technological capability.
Russia has developed the Russian Climate Monitoring System (RIP GS) to support an integrated approach toward meeting these climate goals. The system functions as a multifunctional platform for forecasting climate change, monitoring greenhouse gas flows, and supporting economic modeling. Its design enables decision makers to select the most cost-effective decarbonisation and adaptation measures, optimized for emissions reductions and overall economic impact.
More than 40 scientific organizations across the country are participating in the project. The system is expected to provide access to the latest global scientific data and to validate national approaches to economic decarbonisation through rigorous expert assessments. This collaborative framework aims to align research with policy, ensuring that climate strategies are grounded in robust science and practical feasibility.
During discussions, Tatyana Zavyalova, Senior Vice President of ESG at Sberbank, spoke about the bank’s support for the state project on climate monitoring. She described the Russian Climate Monitoring System as a major breakthrough in collecting high-quality data that can underpin new economic models across the nation. The system is anticipated to empower Russia, its regions, and businesses to craft climate strategies at a more advanced level with enhanced accuracy and insight.
Zavyalova also remarked that Sberbank’s expertise and high-tech solutions, including those incorporating artificial intelligence, could contribute to Russia’s climate agenda. The collaboration aims to draw on private sector capabilities to strengthen national decarbonisation efforts while fostering innovation and resilience across industries.
The overall conversation underscored a shift in climate policy toward economic analysis and practical implementation. Preliminary assessments indicate that potential damage from climate change in Russia from 2023 to 2027 could average around 580 billion rubles per year. Such estimates reflect the broader financial implications of climate risks for national and regional economies. In the most affected regions, weather variability may lead to annual losses reaching up to 5 to 6 percent of regional gross domestic product, highlighting the urgency of proactive mitigation and adaptation measures. This context supports a strategic push for data-driven climate action that can inform budgeting, investment, and policy choices across sectors. [Source: Russian Climate Monitoring System]