On April 26, 2021, online round table “Turning to Nature: Russia's New Environmental Policy in the Context of the "Green" Transformation of the World Economy and Politics” organized by the National Research University Higher School of Economics was successfully held. Professor Wang Wen, Executive Dean of Chongyang Institute for Financial Studies, Renmin University of China (RDCY), and Deputy Dean of Silk Road School, Renmin University of China, was invited to deliver a speech. The guests discussed the current global climate change situation, the just-convened Leaders Summit on Climate, and Russia's new environmental policy in the context of the global "green" transition.

Screenshots of participants

The guests attending the conference included Sergei A. Karaganov, Dean of the Faculty of World Economics and International Affairs of the National Research University Higher School of Economics (HSE University), Honorary Chairman of the Presidium of the Russian Council on Foreign and Defense Policy; Igor A. Makarov, Head of the School of World Economy, Head of the Laboratory for Climate Change Economics, HSE University; Dmitry V. Suslov, Deputy Director of the Center for Comprehensive European and International Studies, HSE University; Anatol Lieven , Professor at the International Politics Department of Georgetown University’s School of Foreign Service in Qatar; Tatyana A. Romanova, Associate Professor at the Department of International Relations, HSE University, Associate Professor at the Department of European Studies, St. Petersburg State University; Georgy V. Safonov, Director of the Center for Economics of the Environment and Natural Resources, HSE University.

As the representatives of two foreign experts, Professor Anatol Lieven said that Russia needs to use its own resources to develop new technologies so as to solve the climate crisis, which is also a step for Russia to strengthen energy security. In terms of carbon tariffs, Russia’s cooperation with China and India is very important. At the same time, it is a good direction to use India’s needs to help Russia’s energy transition. Russia’s new technology development must be put on the agenda, otherwise it will bring risks. China and the European Union have seen the importance of technology development in the future, and Russia needs to explore its own industrial advantages at the same time.

Professor Wang Wen said that RDCY has been committed to green finance research since its establishment. With the issue of climate change keeps worsening, climate governance has become a new lever for countries to enhance their global influence and demonstrate their international leadership. China will act as a responsible global power and make contribution to mankind’s response to climate change, while at the same time strengthening international cooperation with major powers such as the United States and Russia. At present, about 110 countries, including China, have made major commitments to achieve carbon neutrality by the middle of the 21st century in order to control the rise in global temperature. From the perspective of global discourse, an international competition to reshape the rules of low-carbon economics has begun. The industry identification of emerging green and low-carbon industries is facing a new round of international games and negotiations process. From the perspective of international economic and trade, a restructuring of green economics and trade patterns has appeared. From the perspective of technological innovations, a research and development race around new green industries is already steaming ahead at full speed. From the perspective of fund flows, new investment and financing rules focusing on environmental information disclosure, green equity financing ratios, green supply chains, carbon financial markets, new energy technology, low-carbon legal support, as well as resource valuation, will become hot topics in financial market, such as investment, securities and insurance.

The guests at the conference agreed that nature protection and preservation should become an important component of the Russian national policy, its mission for itself and the world, and an important element of its international identity. International cooperation in nature protection should become Russia’s important positive contribution to global development and part of its international attractiveness and authority. Environmental protection and climate change occupy a prominent place in the activities of key global governance institutions, including the G20 and BRICS.

The author is professor and executive dean of Chongyang Institute for Financial Studies at Renmin University of China(RDCY).

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