MOSCOW, November 1. /TASS/. Russia’s government has greenlighted the Strategy for the country’s social and economic development with a low level of greenhouse gas emissions through 2050, the press service of the cabinet of ministers reported on Monday.
"Reaching carbon neutrality with sustainable economic growth are the targets announced by the new strategy for low-carbon development approved by Prime Minister Mikhail Mishustin’s decree. The document has been drafted as part of the president’s order," the report said.
Under the targeted scenario it is suggested that greenhouse gas emissions will be reduced by 60% of the 2019 level by 2050, and by 80% of the 1990 level, which is possible to achieve concurrently with economic growth. "The further implementation of this scenario will enable Russia to reach carbon neutrality by 2060," the report said.
The implementation of the targeted scenario will require investment in the reduction of greenhouse gas emissions amounting to around 1% of GDP in 2022-2030, and to 1.5-2% of GDP in 2031-2050.
The multiplier effects of investment will have additional positive influence on the economy, according to the strategy. "The additional growth of gross domestic product by 2050 in response to investment will surpass the amount of invested funds by 25%," the document said.
It is planned that the Russian Economic Development Ministry will draft a plan of action on implementing the strategy in six months.