Moscow (Russia), April 14 (ANI): Russia has urged member states of the Shanghai Cooperation Organisation (SCO) to adopt unified standards for sustainable financing, aiming to support regional investment, improve risk evaluation frameworks, and align financial flows with environmental, social, and governance (ESG) principles, TV BRICS reported.
The proposal was made by Nikita Kondratyev, Director of Multilateral Economic Cooperation and Special Projects at Russia’s Ministry of Economic Development, during the SCO working group meeting on investment held in Tianjin, China. The Ministry later published the announcement on its official website.
“Sustainable projects are impossible without exhaustive tools for attracting capital. […] Our goal is to create an effective regional architecture of sustainable finance, which will take into account the peculiarities of doing business in the SCO countries,” said Kondratyev.
Key Highlights:
- Objective: Develop regional standards to enhance investment sustainability, attract capital, and reduce non-financial risks (environmental, social, and managerial).
- Focus Areas:
- Improving the regional investment environment
- Protecting investor interests
- Making capital more accessible
- Encouraging long-term project commitments
- Long-Term Vision: Build a cohesive investment framework that reflects both global ESG benchmarks and the specific regulatory realities of SCO economies.
This initiative comes amid increasing global focus on green finance and the integration of ethical and responsible investment practices. Russia’s leadership in this domain signals a move to make the SCO a collaborative platform not only for security and economics but also for sustainable development.
If successful, the proposal could lead to cross-border ESG alignment across SCO member states, fostering greater cooperation and regional stability in financing high-impact projects.
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