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4 Jun, 2021 14:38

Putin: Russia’s climate & environment sector may see annual revenue of $50 BILLION

Putin: Russia’s climate & environment sector may see annual revenue of $50 BILLION

Russian climate-focused industries are expected to generate annual revenues of more than $50 billion, Russian President Vladimir Putin said on Friday at the St. Petersburg Economic Forum.

According to Putin, Russia can take a global leading role in the new market for carbon trading thanks to the country’s natural competitive advantages like forests, tundra, agricultural lands and swamps.

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Putin said that the projected gains make the sector attractive for investment for Russian and foreign companies. The Russian president promised to create the necessary conditions for companies interested in climate and environment projects.

He highlighted the necessity of creating a national system that would help access climate-related projects, identify proper locations for their implementation and test the results.

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