State Development Corporation VEB.RF’s principal objective is to be a driver of economic growth in Russia and to improve quality of life of the Russian people. We are convinced that this objective is unattainable without considering environmental aspects of each and every business project. The environment is the common heritage of the humankind. Today, the spotlight is on the green economy, which may become a growth driver and create hundreds of thousands of jobs.
VEB.RF is developing the national green finance system in collaboration with ministries, the Bank of Russia, and the expert and business communities. The system will enable Russian companies to obtain loans for the implementation of green projects on favorable terms.
The system will be based on the Russian Green Finance Guidelines (see Methodology section). The guidelines are aligned with the national priorities, including the Environmental Protection national project. The guidelines will take account of the relevant experience of major international organizations (CBI, ICMA, and IDFC) and China, the first country to develop and implement such guidelines.
The guidelines working group would like to highlight that the guidelines are available as a consultative draft which will be improved to incorporate comments and recommendations of all the stakeholders. Please send your comments and recommendations to firstname.lastname@example.org.
The draft Russian Green Finance Guidelines (the ‘Guidelines’) aim at stimulating investments in the Russian Federation and attracting private investment to green finance projects contributing towards the national development goals of the Russian Federation, the UN Sustainable Development Goals, and the Paris Agreement. The Guidelines are compliant with the OECD sustainable development standards and the OECD Guidelines for Multinational Enterprises.
The Guidelines outline:
- Russian National Green Projects Taxonomy (Annex 1 to the Guidelines).
- Procedure for assessing compliance of financial instruments with the Guidelines, including:
- Criteria of compliance of financial instruments with the Guidelines;
- Procedure for assessing compliance of financial instruments with the Guidelines;
- Procedure on how to become a verifier.
The Guidelines do not cover government financial instruments support measures which are governed by respective guidelines and are within the remit of the executive authorities.
Please send your proposals and comments to email@example.com