Russia May Qualify Nuclear Energy as Green Source of Energy
Green Nuclear EnergyROSATOM

Russia May Qualify Nuclear Energy as Green Source of Energy

On March 16, 2021, at the site of the Russian Ministry of Economic Development, representatives of VEB.RF (state development corporation), the

On March 16, 2021, at the site of the Russian Ministry of Economic Development, representatives of VEB.RF (state development corporation), the Bank of Russia (Russian Central Bank), the Ministry of Industry and Trade, the Ministry of Natural Resources, the Ministry of Energy, and representatives of banking and business community discussed the draft national Taxonomy of green projects prepared by VEB.RF. The document was developed taking into account the EU taxonomy for sustainable activities and providing for the Russian economy features. The main goal of the document is to stimulate "green" activities and projects aimed at combating climate change and increasing the efficiency of natural resources exploitation.

The list of green activities of the Russian Taxonomy also includes nuclear power, which generates no direct CO2 emissions putting it on a par with renewable sources. Projects in ecotourism, hydrogen and gas engine transport, forest-climatic and agricultural projects, transport infrastructure projects, as well as projects that reduce carbon dioxide emissions are now also considered green in Russia.

Seven of the 17 UN Sustainable Development Goals deal with environmental protection. One of the instruments of protecting the environment is green finance (investments tied to sustainable development metrics). Today, this financial instrument is at the initial development stage in Russia. However, the 2019-2021 Russian financial market development roadmap provides for attracting investors focused on financing sustainable development projects.

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