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This was stated by the Minister in charge of Trade of the Eurasian Economic Commission when opening the session "The EAEU Climate Agenda - New Trends and Practical Solutions" at the 2nd Eurasian Economic Forum. The discussion proposed to touch on such topics as access to technology and finance, as well as business opportunities and risks.

“The roadmap for cooperation on the climate agenda adopted by the Heads of Government of the Eurasian Economic Union countries is implemented in these three main directions,” Andrey Slepnev emphasized.

The EEC Minister has noted that technological sovereignty and technological transformation are one of the main issues facing all the EAEU countries. The rapprochement of States on the climate track will not only contribute to deepening integration processes, but will also strengthen the position of the Union and each of its members individually on the world markets.

For these purposes, the EEC launched the Bank of Climate Technologies and Digital Initiatives in 2022, aimed at developing industrial cooperation within and outside the Union. At present, it includes about a hundred projects from major companies, and this number will be supplemented by the winners of the just-completed Green Eurasia International Climate Competition.

“Here it is safe to say that technology transfer and the very policy of technological neutrality are a key element for discussions at the global level. Our roadmap stipulates that we cooperate within the Union and with our partners to promote our joint interests in terms of the climate agenda at international venues, primarily the UN Framework Convention on Climate Change,” the EEC Minister in charge of Trade continued.

Touching on the issue of access to finance, Andrey Slepnev reminded that implementing climate projects across the globe required funding, which would amount to tens of trillions of dollars annually. He informed the meeting attendees about the recently approved criteria for the EAEU countries' green projects (model taxonomy). The document’s purpose is to promote and converge approaches within a systemic development of green finance instruments.

“After developing the rules for verifying the EAEU model taxonomy, the plan is to issue green financial instruments for the cooperative Eurasian project in accordance with the Union’s model taxonomy as a pilot project,” the Minister added.

Besides, according to him, while implementing the roadmap, the EAEU countries' national legislation on climate regulation was analyzed, including with a view to preventing barriers to mutual trade.

“In order to eliminate such barriers, the possibility of a common market for carbon units seems to be the most preferable. For this purpose it is required to develop and implement a common regulation on infrastructure issues, as well as to balance the tension of sector-specific decarbonization plans, which is essential for achieving the target value of the carbon unit and the real market,” Andrey Slepnev concluded.

He paid special attention to the work in the field of technical regulation, where the Russian Federation, in particular, had already submitted a draft decision on the sixth environmental class of road transport. One of the issues to be resolved is the year until which new cars with traditional combustion engines will be manufactured.