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Russia’s green finance market rises by 27% in 2023

Acting Chair of Russia’s Accounts Chamber Galina Izotova stated that the organization is "actively working on a cross-sectoral audit" of the biggest difficulties for the Russian economy related to the global energy transition

VIENNA, April 17. /TASS/. The volume of the green finance market in Russia shows steady growth - the figure reached 27% in 2023, Acting Chair of Russia’s Accounts Chamber Galina Izotova said on Wednesday.

She emphasized that auditing climate change is strongly linked to auditing sustainable development, so the Accounts Chamber collaborates with regional control and accounting authorities as well as relevant ministries in three key areas. "First, auditing achieving sustainable development targets in Russian regions. Second, the Accounts Chamber is working on the issue of auditing the application of sustainable financing and responsible business practices. The analysis revealed that the volume of the green finance market in Russia is steadily increasing - in 2023, it was 27%," Izotova stated.

She also stated that the organization is "actively working on a cross-sectoral audit" of the biggest difficulties for the Russian economy related to the global energy transition. According to Izotova, the impact of decarbonization is being evaluated "for the economy as a whole, as well as for individual sectors." A final report based on the results of seven audits is now being prepared.

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