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Russia’s sustainable activities funding reaches $5 billion - official

Russian First Deputy Minister of Economic Development Ilya Torosov said that green bonds account for 346 billion rubles ($3.75 billion), green loans - 110 billion rubles ($1.2 billion), and adaptation loans - 5 billion rubles ($54.2 million)

DUBAI, December 10. /TASS/. Russia’s finding market in the area of sustainable activities has reached 461 billion rubles (some 5 billion US dollars) since 2021 when its Taxonomy was adopted, Russian First Deputy Minister of Economic Development Ilya Torosov said.

"Green Taxonomy has been in place in Russia since 2021 when criteria for sustainable activities projects and requirements for the verification system were developed. Over this period, the volume of funding verified under national standards has exceeded 455 billion rubles (4.9 billion US dollars)," he told the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28).

According to Torosov, green bonds account for 346 billion rubles (3.75 billion US dollars), green loans - 110 billion rubles (1.2 billion US dollars), and adaptation loans - five billion rubles (54.2 million US dollars).

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