Key tactical objectives of the Working Group on Sustainable Development Financing
| No. | Actions | Timeline |
|---|---|---|
| Development of tools and infrastructure of the sustainable finance market and creation of conditions and opportunities for companies for ESG-transformation of business in response to requests from investors and other stakeholders as well as external challenges |
||
| 1. | Participation in the development of sustainable taxonomies (for green, adaptation, and social projects) | |
| 2. | Development of existing and introduction of new instruments for financing sustainable development on the Russian financial market (green, social, climate-transition, and SDG-linked instruments as well as green project finance and green mortgage) | |
| 3. | Improvement of corporate governance and information disclosure to promote sustainable development (consideration of ESG-factors and sustainable development issues in corporate governance, development of recommendations and, in the longer run, — introduction of requirements for disclosure of information on considering ESG-factors and sustainable development issues in corporates’ activities) | |
| Integration of ESG-factors in the financial market regulation to adapt the market to new risks | ||
| 4. | Stress testing of the potential impact of climate-related transition risks on major Russian exporters and the financial sector | On a regular basis |
| 5. | Development of proposals, initiatives, and approaches in the field of prudential regulation and supervision for assessment and consideration of ESG-risks by financial institutions, including the development of recommendations for financial intermediaries on the importance of integrating climate-related risks considerations into investment activities | |
| 6. | Creation of a database on the occurrence and impact of natural disasters (the risk-office) for the purpose of enhancing insurance of climate-related risks | 2023 |
| Implementation of sustainable development principles into the operational activities of the Bank of Russia | ||
| 7. | Establishment of own corporate sustainable development policy (reducing resource consumption, increasing energy efficiency, implementing programs for employees in line with social UN SDGs etc.) as well as the development of an in-house methodology for calculating greenhouse gas emissions | |
| Creation of a comprehensive framework for accounting of and trading of carbon emissions units within an organized trading infrastructure | ||
| 8. | Identification and elimination of barriers to issuing and trading of carbon emissions units within the national framework for carbon regulation | |
| 9. | Assessment of the possibility for using the infrastructure of the Russian financial market for issuing and trading in carbon units | |
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Last updated on: 03.11.2021