Putin orders Russian government to try to meet Paris climate goals

Published 11/05/2020, 11:50 AM
© Reuters. Russian President Putin delivers a speech for the opening day of the World Climate Change Conference 2015 (COP21) at Le Bourget, near Paris

By Andrew Osborn

MOSCOW (Reuters) - President Vladimir Putin has signed a decree ordering the Russian government to try to meet the 2015 Paris Agreement to fight climate change, but stressed that any action must be balanced with the need to ensure strong economic development.

Russia, the world's fourth largest emitter of greenhouse gases, has previously signalled its acceptance of the accord even as environmentalists have criticised Moscow for shunning compulsory emissions targets for companies backed with fines.

In a decree published on Wednesday, a public holiday in Russia, Putin formally ordered the government to work towards a cut in greenhouse gas emissions of up to 70% against 1990 levels by 2030.

That, said Putin, would also mean harnessing the capability of forests and other eco-systems to absorb such gases.

Putin's order came with a big caveat however. He said any action to cut emissions must take account of the need to ensure steady and balanced socio-economic development, and ordered the government to draw up and ratify a socio-economic strategy up to 2050 that factored in lower emissions.

A previous draft of such a strategy has drawn criticism from green groups for allowing emissions to rise before falling.

Climate change poses a serious challenge for Russia, whose economy relies heavily on oil and gas production, as well as mining. Some of that infrastructure is built on permafrost, which is vulnerable to rising temperatures.

Putin, who has questioned whether human activity is the sole driver of warming climate cycles, has cast himself as a defender of the environment.

© Reuters. Russian President Putin delivers a speech for the opening day of the World Climate Change Conference 2015 (COP21) at Le Bourget, near Paris

He has praised the Paris pact in the past, while saying it would require countries to modernise industry, something likely to cost big business billions of dollars and incur job losses, an eventuality he said had to be properly planned for.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.