Russian Prime Minister Mikhail Mishustin has approved a strategy for the country’s socioeconomic development with low greenhouse gas emissions until 2050.
The strategy was published on the Government website. The Government plans to achieve carbon neutrality by 2060.
“Promising in 2021 something you want to achieve by 2060 is a good approach as there is a minimum risk of complaints about unfulfilled promises,” comments Sergei Khestanov, economist and Associated Professor at the Russian Academy of National Economy and Public Administration (RANEPA).
“Judging from the dynamic of the European gas market (this whole lunacy in the face of a moderate shortage), the energy transition will be a bumpy ride,” the expert believes. “Their goals and methods to achieve those goals will change more than once — and unpredictably.”
The economist adds that Russia needs to go with the flow of the global carbon regulation in order to avoid paying a high carbon tax on exports. It is important to understand though that this regulation is still evolving and will also see many changes.