VEB.RF Accedes to Zero Waste Charter

State Development Corporation VEB.RF has become a member of the Zero Waste Charter (hartia.ru) aimed at developing an efficient waste management sector in Russia. A respective announcement was made during the ESG-day event organised by VEB.RF.

Cooperation of major public and private companies is an important step towards introducing a circular economy and zero dumping in Russia.

The Charter agreement was previously signed by Business Russia, Russian Environmental Operator and RT-Invest. Ten companies are now involved in joint work focused on complying with sustainability principles and improving quality of life in Russia.

“We welcome the fact that VEB.RF acceded to the Charter designed to develop an efficient waste management sector and ESG-principles in Russia. Sustainable development basically means a long-term trend materially affecting all types of companies. Businesses are well aware of investor attention to, and a growing consumer interest in sustainability, and are under great pressure from supervisors, regulators and intergovernmental institutions. The Environmental Protection national project provides for 100 percent waste sorting and a two-fold landfill decrease by 2030. Together with its partners, Business Russia hopes to efficiently achieve the ambitious goals of the national project. We are ready to consolidate our efforts to attain the goals set. As far as we know, RT-Invest is consistently developing a comprehensive MSW management system. High level competencies of the Charter participants will enable Russia to accelerate the creation of a comprehensive waste management system and generate steady demand for the use of recyclable materials to produce new goods. We will introduce circular economy principles in cooperation with all stakeholders (manufacturers, processors and consumers),” Business Russia’s Vice-President and Head of the Executive Committee Nonna Kagramanian said.

The Zero Waste Charter participants are keen on creating in Russia a comprehensive waste management system and generating demand for the use of recyclable materials to produce new goods. Manufacturers, processors and consumers will be actively involved in introducing the circular economy principles including separate collection, recycling and reuse, composting of organic waste and construction of energy-from-waste facilities. Thus, all types of waste will be recycled and reincluded in the economic turnover.

Nikolay Tsekhomsky, First Deputy Chairman and Member of the Management Board, VEB.RF:

“Environmental agenda is extremely important for VEB.RF as a financial partner in a whole range of waste management projects. VEB.RF is currently considering projects for separate collection, sorting and disposal of municipal solid waste. These projects will help to improve the environment, encourage additional investment in Russia’s industrial sector and create high-technology jobs in the regions. We are also planning to attract commercial banks, financial institutions and private investors to these projects, including through public-private partnerships and green bonds.

VEB.RF believes that in order to achieve economic and social development goals and improve quality of life in Russia, the Charter participants should prioritise ESG projects and be guided by global best practices in sustainable development. That is why VEB.RF offered to include these provisions in the text of the Charter.”

The efforts of the Charter participants intended to develop the circular economy include creating and developing the system of bottle/can recycling kiosks, introducing separate collection of waste, constructing waste recycling and disposal facilities and energy-from-waste facilities, and landfill reclamation and full rejection.

“We are pleased that VEB.RF has a clear strategic view of the sector needs. As a financial development institution, VEB.RF is developing a national practice for operating with green socially responsible capital. The company supports projects aimed at achieving the goals of zero dumping. RT-Invest has offered a programme for developing an efficient comprehensive waste treatment system designed to recycle each kilogram of waste into new goods and energy. Our goal is to close by 2035 and to prevent opening of 200 new landfills across the country,” RT-Invest General Director Andrey Shipelov said.

All these measures will help to eliminate landfills altogether at first in resort clusters and cities with population over one million, and then across Russia. The Charter will be another important step towards zero dumping in Russia.