The Sverdlovsk Regional Union of Industrialists and Entrepreneurs held a meeting on sustainable development and the ESG agenda
March 28, 2023
At the end of March, a meeting of the Commission of the Sverdlovsk Regional Union of Industrialists and Entrepreneurs on Sustainable Development and the ESG Agenda was held in Yekaterinburg. Director of the UNIDO CIIC Sergey Korotkov took part in the meeting online. The event was also attended by Alexander Nuikin, Deputy Chairman of the Ural Bank of Sberbank, Igor Korotetsky, Deputy Head of the Kept Consulting Department, Vsevolod Gavrilov, Managing Director of the Center for Digital GR Initiatives of Sberbank, and others.
The experts discussed issues related to shift in implementing sustainable development and ESG-ratings for domestic companies within the framework of business interests in the Asia-Pacific region.
Deputy Chairman of the Ural Bank Sberbank Alexander Nuikin emphasized that this step carries both risks and opportunities. „A certain infrastructure for sustainable development in the Asia-Pacific region has already been built. At the national level, the largest Asian countries importing Russian goods have already set goals to achieve carbon neutrality. Most of them focus on 2050-2070 and set intermediate goals by 2030, including reaching the peak of emissions, reducing fossil fuels, increasing the forest fund,“ said Alexander Nuikin.
According to Igor Korotetsky, Deputy Head of the Consulting Department at Kept, the largest companies in the East are now actively developing the ESG agenda and adopting international best practices, studying the experience of companies from America and Europe. For example, the largest oil and gas companies in the East are now making high demands on their suppliers. For example, companies take into account the impact of the supplier on the climate, its compliance with human rights requirements, impose requirements for compliance with environmental and social standards, etc.
He also noted the relevance of the topic of carbon regulation. “Setting goals to achieve carbon neutrality and integration into international commodity markets forces the countries of Asia and the East to develop carbon regulation,” emphasized Igor Korotetsky.
Vsevolod Gavrilov, Managing Director of the Center for Digital GR Initiatives at Sberbank, agreed with the thesis that the influence of the ESG will increase and therefore participants in foreign economic activity with China will have to take them into account in their activities. The expert also noted that with a high degree of probability, reporting on the „carbon footprint“ of supplied goods and services will be introduced.
„Russian companies doing business with China should closely monitor the development of the voluntary carbon market as an opportunity to supply China with a new product,“ Vsevolod Gavrilov added.