The Ministry of Economic Development is to be given a new function. It is proposed that the agency will coordinate the development of investment activities and attraction of extra-budgetary funds for sustainable projects, including green development.

Thus, the Ministry will approve objectives and areas of green development, develop criteria for such projects and requirements for project verification system. In addition, it will submit to the Government a "road map" for incentive measures implementation. A draft of such order has been submitted to the government.

The Ministry will create and coordinate a special interdepartmental working group, which will include representatives of the authorities, the Central Bank, development institutes, business and the expert community.

Elements of the sustainable development system, including "green" development, which will be approved by the group, will be further sent to the Government.

Such coordination is critical, since the concept of "green development" worldwide consists of such areas, as the environment and environmental management, infrastructure and transport, construction and industry, energy and energy saving, low-carbon development and adaptation to climate change.

At present, these areas in the country are regulated by the relevant agencies, so in addition to the Ministry of Economic Development, the new group will include the Ministries of Nature, Transport, Construction and others.

As the deputy head of the Ministry Ilya Torosov stated, now in the world there is a "boom" of the sustainable development, namely the approach, which takes into account such factors as the environment, social and administrative factors. The total ESG bond market volume is expected to approach 1 trillion by the end of this year.

He stressed that the agency regularly supports such projects in Russia, but now these projects are based on international standards, as the country lacks its own approaches.

Earlier it was reported that Japan had developed plastic bags that can dissolve in sea water. They are made of the material which contains sugar cane in its composition. To the touch these bags do not differ from the usual plastic bags.

Made in Russia // Made in Russia

Author: Ksenia Gustova