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Green Financing of Green Energy as a Green Economy Sector: A Brief Overview of the Status of Scientific and Legal Support
 
Код статьиS0021433-6-1
DOI10.18572/2312-4350-2022-2-71-79
Тип публикации Статья
Статус публикации Опубликовано
Авторы
Клеандров Михаил Иванович 
Аффилиация:
Institute of State and Law, RAS
Musin Research Center for the Development of Energy Law and Modern Legal Science
Адрес: Russian Federation, Moscow
Название журналаПравовой энергетический форум
ВыпускВыпуск № 2
Страницы71-79
Аннотация

The current status of scientific and legal support for the green financing of green energy as a green economy sector is summarized. The author points out that the man-caused impact of human civilization on global warming is insignificant compared to nature cycle impact, which does not mean that there is no need for a variety of measures to mitigate the harmful man-caused effects on nature. One of such ways to mitigate and minimize the impact is to improve the efficiency of green financing of the energy sector of economy. This approach requires in-depth scientific and legal research of the problem, which is particularly relevant in the context of modern turbulence in international economic relations.

Ключевые словаenergy law, green economy, green energy, green financing
Получено09.08.2022
Дата публикации09.08.2022
Кол-во символов28501
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1 Since February 24, 2022, our country has been experiencing severe turbulence in international, primarily economic, relations.
2 All kinds of sanctions that sever wellestablished international ties and give rise to problems with foreign investments are being imposed on us. A number of foreign companies located in Russia stopped working. There are problems with international payments, freezing of our assets abroad, and so on. We were prepared for this a little bit after the 2008 financial crisis, the 2014 Crimean Spring, and the coronavirus pandemic that began in 2020. But the bacchanalia that began after the start of the special operation in Ukraine, inter alia, by trampling the rules of international law, multilateral and bilateral treaties and agreements, is very serious and requires an adequate response, so to say, on all fronts.
3 Without getting into specifics, it should be said that we have to put our economy on a mobilization track. Speaking at the Federation Council on April 13, 2022, First Deputy Prime Minister A. Belousov even said that “in fact, an attempt has been made to organize a global blockade of Russia that schematically consists of four strongholds: the financial, trade, transport, and humanitarian ones.” However, he noted that this would not work with the sixth largest economy in the world, and the events of the past month and a half proved his point.
4 Therefore, there can be no talk of a “blockade” economy. Besides, we have been down that road before in the early 1920s, and we survived. But today we can and should discuss a mobilization economy realizing that we will “survive” it, too.
5 It means that the legal regulation of the mobilization economy should also be put on this track, and the role of science in this process is great. The meeting of the Presidium of the Russian Academy of Sciences that was held at the beginning of this month and was dedicated to this issue noted that there was an urgent need for laws and, most importantly, mechanisms for their application to support national manufacturers and make it possible to produce world-class equipment.
6 As we know, the Government of the Russian Federation formed the Commission on Enhancing Economic Resilience to Sanctions. At the recent meeting of the Presidium of this Commission in April 2022, the Chairman of the Government of the Russian Federation M.V. Mishustin noted that they had already developed 200 proposals to transform the economy, catalyze economic processes, reduce the impact of Western sanctions, and take long-term measures.
7 But all proposals are different. For example, the Russian Union of Industrialists and Entrepreneurs has submitted over 40 initiatives to the Government of the Russian Federation to liberalize a number of environmental regulations for business in view of the sanctions and industrial ecology requirements to reduce financial and administrative risks associated with both current standards and those not yet in force.
8 And this is a direct “attack” on green economy and its important sector, green energy with its important component, green financing.
9 How justified, and even appropriate, are these initiatives of the business community, even in present-day mobilization economy?
10 After all, an urgent need for green energy, both globally and in Russia, is still there.
11 At present, as is widely known, there is a legitimate concern, inter alia, in public and social sciences, both internationally and in most national states, including Russia, about global climate and biota changes with consequent environmental, political, social and, other problems.
12 At the same time, it is obvious that a) the climate change (warming) is mainly driven by natural processes: periodic increases in solar activity, greenhouse gases, primarily methane, emissions, volcanic activity, etc., on which the current level of human civilization development can have no impact; b) this (dominant) effect greatly exceeds the negative impact on climate warming on Earth which the joint activities of human civilization have today; c) paleoclimatic studies show that the climate “warmings” similar to the one we experience now took place a very long time ago, inter alia, from the 8th to the 11th century BC and from the 1st century BC to the 2nd century AD. Respectively there were global climate cooling events, also periodic. In general, there were four major glacial cycles over the last half a million years and during all of the cold glaciations the Earth’s atmosphere had low concentrations of CO2 and methane.
13 Does this mean that we should not take meaningful steps to prevent the coming, albeit in a limited temporal segment, climate warming with all its negative consequences both regionally and globally? Not at all. First of all, because the warming will continue, probably intensively, for decades to come, and the economy, including its major sector, the energy sector, is very sensitive to this process. Speaking at the meeting of the Presidential Council on Science and Education on February 8, 2022, the agenda of which included the main innovative projects, the President of the Russian Federation V.V. Putin said: “We have set specific goals here: accumulated net greenhouse gas emissions in Russia should be less than in the European Union over the next three decades, and Russia should become carbon neutral by 2060, this is our common decision, this is the groundwork of the Government... The entire national economy should be adapted to climate challenges”. He, however, pointed out: “In order to take into account possible risks and plan our actions correctly we should not only rely on someone else’s calculations, but determine the carbon balance in the atmosphere objectively and precisely...” Calling for a scientific system of high-precision emissions monitoring, V.V. Putin mentioned: “We see what is being done in other countries of the world, how they arrange work in all these areas. And we should certainly not let them impose on us unacceptable approaches to these extremely important issues.” And to avoid this, Russia should be the leader in these areas. We will reduce the negative impact of the national industry, transport, and other branches on the climate of the planet based on accurate and verified data. However, according to him, it is too early to give up oil and gas. “We will extensively use all of this for twenty, thirty, or maybe fifty years. Especially our gas capacity... But it is still important to understand where all mankind and the entire planet are heading — and stay ahead.” [1]

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30. It was on October 8, 1883, when French Balloonist Gaston Tissandier Took His First Flight in Airship La France Using Werner von Siemens’ Electric Engine Powered by a 435-Kilogram Battery.
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33. See, in particular: Romanova V.V. Energy Law. Textbook for Training Highly Qualified Specialists. Moscow : Yurist Publishing Group, 2021. 288 p.

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