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Shift to ‘green’ technologies inevitable even with high investment, says VEB.RF

Investment payback exists there but it is rather long wait, from 10 to 15-20 years, VEB.RF Chief Economist Andrey Klepach noted

ST. PETERSBURG, June 8. /TASS/. The shift to ‘green’ projects in a number of cases requires high investment with a payback period from 10 to 20 years, VEB.RF Chief Economist Andrey Klepach told TASS on the sidelines of the St. Petersburg International Economic Forum, adding though that the shift is inevitable amid the present economic environment.

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"The range of projects (in the field of ESG, environmental, social, governance - TASS) is quite broad. One such project entails a chain of similar ‘green’ projects. For example, if we speak about electric cars or electric buses produced by Kamaz that have already hit Moscow’s roads, it is Moscow alone that can afford such an expensive project. In order to make it cheaper and more accessible to other cities, it is necessary to actually create an entire industry, including the production of lithium-ion batteries," Klepach explained.

"Investment payback exists there but it is rather long wait, from 10 to 15-20 years. It’s a technological challenge, and new technologies need funds," he noted, adding that "this is the path we will be sticking to in any case, but what is important here is the price and the economics of projects," and that "so far that is a very expensive economy."

Responsible investment is an approach that pursues including environmental, social and governance (ESG) elements.

Currently, ESG financing is quite popular in Western countries, and it has also started becoming popular in Russia recently. Particularly, the issue of ‘green’ financing has been developing separately in Russia, which envisions furnishing funds for projects on condition of environmental improvement, easing the consequences of climate change and a more effective use of resources.

The St. Petersburg International Economic Forum, organized by the Roscongress Foundation, took place on June 2-5.

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Romanian presidential candidate vows to end military aid to Ukraine

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During the night, air defenses intercepted and destroyed two Ukrainian UAVs in the skies over the Rostov and Volgograd regions

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US State Department Spokesman Matthew Miller also declined to discuss the presumed first strike on Russia with the missiles

Moscow, Minsk in constant contact on potential threats to Belarus — Kremlin

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Daniel Davis also noted that "continuing to ignore reality" would only increase "the ultimate cost of losing" the conflict for Ukraine

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Col. (Ret.) Lawrence Wilkerson confirmed to TASS that the launch of ATACMS missiles would be impossible without "US/NATO satellite feeds and/or personnel"

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Mikhail Mishustin added that "it is necessary to modernize border crossings in coming years, including introduction of practice of electronic paperwork"

Russia to address NATO’s engagement in strikes deep inside country — SVR

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Dmitry Peskov chose not to respond to a question about whether Russia has proof that UK-made Storm Shadow missiles had been used against it

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Moscow won’t allow US to silence UNSC as Washington backs Israel — Russian UN envoy

According to Vasily Nebenzya, the Security Council should "bring peace, stability and prosperity to the Middle East"

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Russian forces gain foothold in central Chasov Yar in DPR — expert

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West’s decision on missile strikes gives Russia free hand to attack NATO bases — expert

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Bitcoin price exceeds $96,000, sets new historical record — Binance platform

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Russia must be able to defend itself — Erdogan on revised nuclear doctrine

The Turkish leader reiterated that "both Russia and Ukraine are Turkey’s neighbors"

French Foreign Ministry refuses to disclose number of SCALP missiles shipped to Ukraine

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Humanitarian situation in Gorlovka harsh as Ukraine targets key infrastructure — DPR head

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US Senate refuses to block arms supplies to Israel

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Putin confirms Russia’s readiness to assist CAR with security challenges

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Soyuz rocket carrying Progress MS-29 cargo spaceship blasts off from Baikonur spaceport

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Ex-German chancellor never expected Russia to tolerate Ukraine’s NATO membership — memoir

Angela Merkel added that another fallacy was the belief that the status "would act as a deterrent," and that Moscow "would accept these developments without taking action"

Zelensky admits Ukraine can't fight its way back to 1991 borders

Vladimir Zelensky also talked about the Crimean Peninsula, stating that Kiev is ready to "bring Crimea back diplomatically"

Trump may soon start talks with Russia following Biden’s decision on ATACMS — news agency

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Trump to continue using Ukraine to contain Russia — Valdai program director

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In this role, Indonesia "will actively contribute to and participate in any initiatives of BRICS," Jose Antonio Morato Tavares emphasized

Russian diplomat accuses West of using coercive measures to punish certain countries

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The New York Times reported on November 17 that US President Joe Biden had authorized the use of US-supplied ATACMS tactical ballistic missiles for strikes inside Russia

US Congressman urges to impeach Biden for allowing strikes deep into Russia

"By authorizing long range missiles to strike inside Russia, Biden is committing an unconstitutional Act of War that endangers the lives of all US citizens," Thomas Massie said

Russian troops advance in areas north, south of Velikaya Novoselka in DPR — official

Earlier, Vladimir Rogov stated that a successful offensive by the Russian Armed Forces north of Velikaya Novoselka could allow them to encircle the settlement

Russia counts on West's responsibility in nuclear deterrence issues — Kremlin

Earlier, Russian President Vladimir Putin decreed to update the country’s nuclear doctrine, the Basic Principles of the State Policy of the Russian Federation on Nuclear Deterrence