Russia, US Reach Agreement To Continue Monitoring Emissions; What's Behind Kremlin's Shift in Tune on Climate Change?

On the sidelines of the UN conference in Glasgow, Russian Special Presidential Envoy for Climate Change Ruslan Edelgeriev and US Special Presidential Envoy for Climate Change John Kerry held a second bilateral meeting, agreeing to strengthen cooperation on satellite monitoring of greenhouse emissions and methane.

The US ambassador, for his part, told the news agency that his second meeting with his Russian counterpart went well. The meeting took place in Glasgow, Scotland, as part of the United Nations Climate Change Conference (COP26) for 2021, which began on October 31.

Russia, US reach agreement to combat climate change

Per RT, a top specialist in sustainable banking said Russian enterprises may avoid the "pressure" of international sanctions by investing more in climate change solutions. According to Sean Kidney, co-founder and CEO of Climate Bond Initiative (CBI), a global association that monitors green economy investments, green initiatives and climate change solutions are "a terrific method for Russia to reduce sanctions pressure."

Russia published a complete list of the sorts of environmentally sustainable projects that are eligible for preferential loans and bonds in September. Companies can apply for grants if they reduce CO2 emissions and implement green technologies in their daily operations, such as energy-saving and soil restoration.

Russia's governmental development organization created the Russian Taxonomy for Green Projects and the Russian Green Finance Guidelines.

Russia hits back at US leaders' criticism over climate change initiative

Maria Zakharova, a spokeswoman for Russia's foreign ministry, dismissed US accusations of Moscow's commitment to addressing the climate catastrophe, slamming the world's "second greatest greenhouse gas emitter." Her remarks come as Russia rebuffs allegations made by two US presidents that it is ignoring its role in combating global change.

Former President Barack Obama chastised Russia and China, the world's largest polluters, for a "dangerous lack of urgency" in reducing emissions. President Joe Biden said last week at the COP26 summit that Russia's "tundra is literally burning" and that Putin is "mum on the desire to do anything" despite his country's "severe climate challenges."

This summer Russia had its worst forest fires in recent history, according to Greenpeace. "Let's not forget that forests are burning in California," said Kremlin spokesperson Dmitry Peskov in response to Biden's remarks. Meanwhile, following Obama's statement, Zakharova jumped on board, telling reporters, "Those baseless accusations raise eyebrows, at the very least."

Critics have criticized President Vladimir Putin's absence at the climate summit, although he gave a video speech and Russia sent a large team to Glasgow. At COP26, Russia, the world's fourth-largest emitter of greenhouse gases and a country highly reliant on fossil fuel exports, declined to accept the US-led Global Methane Pledge to reduce methane emissions by 30 percent by 2030.

At COP26, however, Russia joined over 100 other nations in agreeing to eliminate deforestation by 2030. Meanwhile, Putin committed a carbon-neutral economy by 2060 in his video message, even this is ten years later than the 2050 net-zero objectives discussed by several leaders at the conference.

"After all, our country accounts for around 20% of the world's forestland, our country will rely on forest ecosystems to accomplish our climate targets," he added in his presentation, as per Newsweek via MSN. The Kremlin approved a campaign this week to make Sakhalin Island, in Russia's far east, carbon neutral by 2025.