CIS Economic Forum at WTC Moscow

This key business event of the Commonwealth countries, held since 2008, brings together representatives of government bodies and business from the CIS countries and far abroad.

The key topic of the Forum in 2022 is: «Green agenda in the CIS countries: cooperation in development». Representatives of authorities and experts will discuss the new economic policy of the Commonwealth countries in accordance with ESG standards, the comprehensive modernization of industrial enterprises in order to reduce the negative impact on the environment, the priorities of the energy policy of the CIS member states, as well as the digital development of the Commonwealth countries as the main competitive advantage in the context of the global green agenda.

The business event is held together with the meeting of the CIS Economic Council, which is attended by the vice-premiers of the Commonwealth countries, the heads of the ministries of economic development, finance, industry and trade, innovative development, representatives of authorities, chambers of commerce and industry, industry associations, banking communities, as well as entrepreneurs.

The forum is traditionally aimed at building partnerships in the business community of the CIS countries, as well as searching for new forms of cooperation with public authorities, business, civil society of the Commonwealth countries for joint initiatives in achieving sustainable development goals and economies’ decarbonizing.

Within the frames of the Forum, a plenary session «Green agenda in the CIS countries: cooperation in development» was held. The discussion was moderated by Denis Trefilov, Deputy Chairman of the Executive Committee - CIS Executive Secretary.

The agenda of the forum has been determined a long ago. Despite of the present situation the relevance of the environmental agenda remains the cornerstone for the development of the economies of the Commonwealth countries and their further cooperation.

The CIS countries account for 1/3 of the mineral fertilizer market and 1/6 of the energy market. The hydrocarbon energy transition has greatly accelerated the development of new energy-saving technologies, technologies related to new energy, and increases investment in related developments. The climate agenda has become one of the main regulators of the global economy. Therefore, in the Commonwealth countries today there are a number of new projects, the necessary conditions are being created for their promotion and implementation.

There is an active discussion between the governments and business of the CIS member states on economic incentives that help attracting investments in innovation and technological changes in accordance with the environmental requirements. The rate of changes should be associated with building a balance between the interests of ecology, environmental protection and the needs of society, between the interests of the state in the field of sustainable development and the ability of companies to meet these high long-term expectations.

As for the ESG agenda implementation in Kazakhstan, the Republic declares its intention to achieve carbon neutrality by 2060. Proposals have been developed to minimize risks, work is underway to form a long-term strategy, which will include transition stages and a list of necessary measures. It is planned to introduce high-tech systems at enterprises using coal as a fuel. The mechanisms are being developed to adapt and assess the vulnerability of sectors to climate change, especially in the agricultural sector. A comprehensive audit is being carried out at industrial enterprises in order to assess ESG sustainability in assessment of investment attractiveness.

In time of Belarus presidency in 2021, the CIS community managed to strengthen significantly internal communications and increase the level of mutual trade despite all the logistical difficulties caused by the pandemic. Today it is extremely important to preserve and protect investment projects from external influence.

The environmental agenda is extremely relevant for Uzbekistan as well, as it sets the goal of reducing greenhouse gas emissions by 35%.

Ecological, green, low-carbon agendas are interconnected. The participants of the discussion agreed that despite the difficult geopolitical situation, the attention of the Commonwealth countries should be fully focused on the implementation of the ESG agenda. The formation of long-term national and general strategies, as well as a package of joint projects on the green agenda, the gradual building of a rational production and consumption mechanism will bring positive results for each of the economies of the Commonwealth countries and the well-being of citizens living in the CIS countries.