Moscow wants a smooth transition to low-carbon development without socio-economic shocks, a Russian minister has told the St Petersburg International Economic Forum (SPIEF).
Russian First Deputy Minister of Economic Development Ilya Torosov warned that discrimination against trade and the investment and technological agenda within the framework of climate discussions was unacceptable.
“What is important for us is a just transition to low-carbon development without socio-economic shocks — smooth, normal," Torosov told a seminar on 'Transitional Financing: Opening up opportunities for the energy transition in BRICS' at SPIEF. "Inadmissibility of discrimination against trade, investment and technology agendas within the framework of the climate, sanctions, this agenda is very important for us.”
Torosov added that a working group has already been formed within the framework of Russia's chairmanship in BRICS to resolve issues of a common register of carbon units, a common space for climate projects and capital movements.