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Andrei Klepach: Potential Sustainability Projects in Arctic Region May Be Certified under VEB.RF’s Green Methodology

24 september 2020 года
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Sustainability projects in the Arctic Region and other Russian Northern territories should be implemented using the green finance mechanisms. VEB.RF is ready to certify such projects under its green methodology. This was stated by VEB.RF’s Chief Economist Andrei Klepach at the forum on sustainable development of Northern territories.

“We need to involve in pilot investment projects meeting the sustainability criteria including VEB.RF’s green requirements. We have developed our own standard and our own methodology applicable for Arctic and Northern projects,” Andrei Klepach said.

He emphasised that Russian Northern territories require new approaches to financing; and green finance instruments, specifically, green bonds and credits are most relevant to the needs of Russia as a whole and the Arctic Region in particular.

According to Mr Klepach, the Arctic Region needs a model of environmentally safe development adapting to the climate challenges. This will make it possible to improve living conditions of Arctic inhabitants and serve as an example for other Arctic states.

“We should develop a model of responsible attitude to nature and people and focus not only on job creation in the Northern territories but also on environmental well-being, quality education and healthcare. We should adopt new approaches to medicine and healthcare services including those rendered in rotational camps, production sites and urban areas with high population density,” Andrei Klepach said.


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