On November 18th, the Russian government has officially designated VEB.RF, Russia's development corporation, as the national methodological center for green finance.
This status places special obligations on the corporation, including development of green finance market and promotion of responsible business practices in Russia. So far, the concept of green finance is still very new to our country and it is much less developed than in Europe, the United States or East Asia. Business, government and the investor community have a large role to play in expanding this market, but the role of the latter is especially prominent: investors' massive demand for green financial instruments creates a so-called "greenium", or a discount to normal cost of borrowing for issuers, which further drives the growth of this market.
VEB.RF invited Robert Scharfe, Head of Luxembourg Stock Exchange, and Yuri Denisov, Head of Moscow Stock Exchange, to share their views on developing the green finance sector and making green financial instruments more attractive to investors. Our esteemed guests are also going to discuss how VEB.RF can best utilize its function as Russia's official "green methodological center" in order to stimulate the development of ESG banking in Russia.
How the new role of VEB.RF will change the green finance market in Russia
Chairman of VEB.RF
VEB.RF CRO, Head of Green Finance
VEB.RF Vice-Chairman, Head of Project Finance
Head of Sustainable Development Department at International Comparative Law Research Center
Green finance market development in Russia
CEO of the Luxembourg Exchange
CEO of the Moscow Exchange
Moderator: Dmitry Aksakov Vice-President, VEB.RF Business Block
Representatives of big Russian and foreign companies and businesses