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26.01.2023 (Обновлено: 31.01.2023 11:01)

Andrey Slepnev, "As part of the climate agenda we tackle access to technologies and funds, as well as issues in the field of equalizing incentives for industries"

Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, attended the seminar on developing coordinated approaches to issues on the climate agenda in the Eurasian space. The seminar was held on the sidelines of the EEC Council meeting.

"Economically speaking, the climate agenda is primarily about technological transformation and transitioning to a new technological platform. Therefore, the more successful this process is, the more successful the national economies will be in decades to come," noted he in his speech.

The EEC Minister in charge of Trade who heads the high-level working group (HLWG) on developing proposals on harmonizing the Member States' positions in the framework of the climate agenda drew attention to three key issues: access to technologies, access to funds, as well as incentives for industries and related problems of arising inter-country barriers.

As for access to technologies, it all depends on who and how designates a technology as green and to what extent. In this sense the Russian Federation shaped a legal institutional infrastructure for carbon regulation in three years. In Kazakhstan such system was built even earlier and today it is actively improving.

"This large area of relations covers tax and customs issues, as well as technical regulation. If our standards diverged, what cooperation could we talk about? There would be a barrier straight away. Therefore now the issue of paramount importance includes the common validation, verification and accreditation system," stressed Andrey Slepnev. The second aspect concerns creation of a single methodological framework for implementing climate projects and covers the issues of supporting company initiatives aimed at decarbonization.

In terms of access to funds, the EAEU developed a unified taxonomy of climate projects. The document gives an opportunity to project initiators from one country to obtain financing in the whole Union market if their methodology is relevant. Moreover, the EEC Minister expressed his confidence that the adopted taxonomy will enjoy a broader recognition.

"We look forward to using the model taxonomy as a methodology basis for national regulatory acts and work with the parties' exchanges to apply it directly to provide funding across the EAEU space," told Andrey Slepnev. He also reminded that the Commission launched a bank of climate technologies and digital projects that companies are ready to assist in re-implementing.

"The third issue, perhaps, the most important one, encompasses incentives and potential barriers. It is about when and what countries will start to introduce their versions of a cross-border corrective carbon mechanism. Today we see that emissions trading is being actively employed in the Republic of Korea, China and, by the way, in the Republic of Kazakhstan," highlighted the EEC Minister in charge of Trade.

According to Andrey Slepnev, the major risk for the Eurasian Economic Union is introduction of such mechanisms and corresponding cross-border compensating tools within the EAEU. In the context of these risks, there is a great challenge of levelling down the tension of decarbonization plans by industries between the Union Member States and with regard to main foreign trade partners.

"It is necessary to analyze climate regulation in our countries, synchronize our plans and offer required solutions to the Union governing bodies," summed up Andrey Slepnev.


The seminar was also attended by Members of the EEC Council Alexei Overchuk, Deputy Chairman of the Government of the Russian Federation, and Adylbek Kasymaliev, First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Mikhail Myasnikovich, Chairman of the EEC Board, Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, Vahan Kerobyan, Minister of Economy of the Republic of Armenia, Aidar Kazybaev, Director of the Center for Green Finance of the Astana International Financial Center, Elena Borisenko, Deputy Chairperson of the Board of Gazprombank, Alexei Miroshnichenko, First Deputy Chairman, Member of the Management Board, VEB.RF and others.