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The National Strategy for Financing the Energy Transition: Assessing Opportunities and Finding Solutions

Author

Listed:
  • Igor A. Yakovlev

    (Financial Research Institute, Moscow 127006, Russian Federation)

  • Lyudmila S. Kabir

    (Financial Research Institute, Moscow 127006, Russian Federation)

  • Svetlana I. Nikulina

    (Financial Research Institute, Moscow 127006, Russian Federation)

Abstract

This article examines the current trends and the state of development of the energy transition in the Russian Federation. This process presents many challenges and requires a country to develop a strategy for success. At the same time, the successful implementation of the energy transition requires a balanced solution for its organization and implementation and a clear economic calculation. The main purpose of the study was to systematize information on the organization and instruments of for financing the energy transition in the Russian Federation. Presented among the results of the planned modernization transformations of the economy, the energy transition must be considered in the system of existing relations to determine its role and place in this process. The article analyzes government decisions on the energy transition organization, describes key aspects of the modern energy agenda, and summarizes information on the main instruments of energy transition financing. The author concludes that Russia is shaping its energy transition agenda on the basis of competitive advantages and socio-economic development priorities. Regarding energy transition, the country currently adheres to the Paris Agreement, adapting cross-border carbon regulations. The system of organization of relations within the energy transition framework is only being formed in Russia today, while with regard to the funding mechanism there is some experience and groundwork formed in the organization of the financing process of the green economy. Financial flows are reoriented to sectors of the economy which ensure energy security, technological sovereignty and sustainable economic development of Russia.

Suggested Citation

  • Igor A. Yakovlev & Lyudmila S. Kabir & Svetlana I. Nikulina, 2022. "The National Strategy for Financing the Energy Transition: Assessing Opportunities and Finding Solutions," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 9-24, October.
    • Handle: RePEc:fru:finjrn:220501:p:9-24
    DOI: 10.31107/2075-1990-2022-5-9-24
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    References listed on IDEAS

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    1. B. N. Porfiriev, 2022. "Decarbonization vs. Adaptation of the Economy to Climate Change within the Sustainable Development Strategy," Studies on Russian Economic Development, Springer, vol. 33(4), pages 385-391, August.
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    Cited by:

    1. Svetlana I. Chuzhmarova & Andrei I. Chuzhmarov, 2024. "Tax Incentives for Transition to Rational Consumption and Production Patterns," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 98-113, June.
    2. Svetlana I. Chuzhmarova & Andrei I. Chuzhmarov, 2023. "Tax Incentives for Investments in Green Technologies: Experience of Selected Countries," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 74-89, April.

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    More about this item

    Keywords

    energy transition; organization of energy transition; financing of energy transition; cost of energy transition; government regulation; strategy; sustainable development;
    All these keywords.

    JEL classification:

    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources

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