The expansive geographical landscape of Russia plays a pivotal role in shaping its economic endeavors, boasting an estimated share exceeding 30% of the world’s natural resources. With its copious resource endowment, Russia holds the distinction of possessing the globe’s largest reservoirs of natural gas, second-largest deposits of coal, and eighth-largest reserves of oil. This establishes Russia as a substantial contender within the global energy sphere. Nevertheless, its dedication to sustainable and ecologically sound progress remains resolute.
Commencing from its endorsement of the Kyoto Protocol in 2009, the nation has progressively cultivated its eco-conscious policies and instruments for green finance. While Russia’s adoption of green financial initiatives might have lagged behind certain European and Asian counterparts, a discernible and burgeoning emphasis on sustainable development objectives and the ecological agenda is now evident within the country. This is evident through the introduction of distinctive mechanisms tailored to foster green and sustainable advancement.