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Bank of Russia developing stress tests on influence of decarbonization on economy

"We will have two variants - by 2030 and by 2050," First Deputy Chief Ksenia Yudaeva noted

SOCHI, September 16. /TASS/. Russia’s Central Bank is developing long-term stress tests on the influence of decarbonization on the country’s economy by 2030 and 2050, First Deputy Chief Ksenia Yudaeva told a forum on Thursday.

"We are currently developing long stress tests for the Russian economy. We will have two variants - by 2030 and by 2050. We will look at macroeconomic consequences, our work will be a supplement to what the Finance Ministry is doing. We want to consider how it will influence the structure of the Russian economy," she said.

The Central Bank’s Chief Elvira Nabiullina said earlier that decarbonization would affect the monetary policy and all economic processes as it would require huge investment. She also noted that the regulator would regularly stress test the stability of exporting companies amid the introduction of carbon regulation.