Page 16 - RusRPTDec21

2.5 Russia aims for carbon neutral by 2060
Climate change issues have received much more attention in the Russian economic policy debate recently. The discussion has focused mainly on the risks to Russia posed by other countries' efforts to combat climate change. The effects of actual climate change have received less attention.
In October, President Vladimir Putin announced that Russia would aim for carbon neutrality by 2060. To support this goal, Russia has recently adopted a so-called 2050 a strategy for low-emission economic growth.
The aim of the strategy is to secure Russia's international competitiveness and stable economic development in the midst of a global energy revolution. According to the strategy, the Russian economy will grow by 3% per year between 2031 and 2050 at the same time as greenhouse gas emissions are declining. According to most estimates, Russia's long-term potential GDP growth is estimated at around 1.5% per year.
According to the strategy, Russia's greenhouse gas emissions will increase slightly until 2030, but in 2050 net emissions are expected to be 60% lower than in 2019. Most of the net reduction is planned to be covered by increasing carbon sinks in forests. The carbon sequestration capacity of forests is expected to double from the 2019 level by 2050. According to statistics from the UN UNFCCC, Russia's capacity has declined over the past decade.
The actual emissions in the strategy are planned to be about 14% lower in 2050 than in 2019. Emissions are planned to be reduced e.g. increasing the use of nuclear, hydropower and renewable energy sources in electricity
16 RUSSIA Country Report December 2021 www.intellinews.com