Transformation of the Green Agenda of Russian Energy Companies Under Sanctions

Abstract

Russia is following the global agenda of energy transition and achieving a zero balance of greenhouse gas emissions by 2060. The article examines the impact of economic sanctions on the institutional conditions and factors of reducing the carbon footprint of Russian energy companies. The key conclusions of the research are: 1) economic sanctions act as a limiting factor for the development of Russian raw materials companies; 2) despite high synchronization of Russian legislation with international initiatives and the implementation of large-scale ESG-based projects, under sanctions, the green agenda of Russian energy companies is being significantly transformed: the goal of reducing the carbon footprint remains a priority only for companies with a high level of state participation, but even these companies have made significant adjustments to strategic implementation plans green technologies; 3) maintaining the competitiveness of Russian energy companies in the foreseeable future correlates with the green agenda, therefore, their participation in international projects on the principles of energy transition and national green initiatives will be critically important.

Keywords

• global climate agenda
• carbon neutrality goals
• green strategies