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Arctic climate change issues require joint efforts from authorities, businesses — expert

This cooperation should be based on the public-private partnership approach, Associate Professor at the Russian Presidential Academy of National Economy and Public Administration Alexander Vorotnikov said

MOSCOW, September 24. /TASS/. The Arctic climate change issues may be resolved only by public-private partnership, said Alexander Vorotnikov, coordinator of the Expert Council of the Arctic Development Project Office, Associate Professor at the Russian Presidential Academy of National Economy and Public Administration (RANEPA).

"Climate change [in the Arctic] requires cooperation between government and businesses. The state alone will not solve this problem, as it requires huge funds. Businesses not always can understand what they need and what the state needs. Therefore, the problem may be solved only by interaction of the state and businesses," he said.

This cooperation, he continued, should be based on the public-private partnership approach. Russia has a new financial instrument for such cooperation - a PPP bond, he added, stressing projects related to the climate in the Arctic should be implemented within the framework of "green" financing.

The Russian Arctic's main climatic problems are the permafrost degradation, which poses risks to engineering and public infrastructures, as well as erosion of the shores of northern rivers and the Arctic Ocean seas, which complicates navigation along the Northern Sea Route and the operation of ports, he told TASS.