Russia and SCO countries discuss creation of standards for sustainable financing
On the margins of the meeting, the SCO Conference on Sustainable Industry was also held, and several cooperation agreements were signed
Russia presented the countries of the Shanghai Cooperation Organisation (SCO) with the best practices for supporting investors and proposed unifying approaches to sustainable financing: how to assess environmental, social, managerial, and non-financial risks. This was announced by Nikita Kondratyev, Director of Multilateral Economic Cooperation and Special Projects of the Ministry of Economic Development of Russia, following a meeting of the SCO working group on investment in China's Tianjin. This is reported by the official website of the Ministry of Economic Development of the Russian Federation.
"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," Nikita Kondratyev noted.
At the meeting, the parties discussed how to improve the investment climate, protect investments and attract capital to priority sectors. Particular attention was paid to mechanisms that allow launching projects on favourable terms.
Sustainable (or green) financing is an approach to investment that takes into account not only profit, but also environmental, social and governance factors (the so-called ESG principles).
Photo: iStock
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Vladimir PutinPresident of Russia"We are developing mutual trade, which is growing; it increased by over 12 per cent last year. We have a joint commission working in this sphere. Our focus is on agriculture, shipbuilding, information technology and energy, including nuclear power. We have signed a free trade agreement between the Eurasian Economic Union and Indonesia. Jakarta is our reliable and old friend within ASEAN. We are working together at all international platforms, including the UN" -
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Vladimir PutinPresident of Russia"More and more Iranian students are choosing Russian education. We are very pleased about this. A great many future doctors are studying in Russia. In the 2025–2026 academic year, the number of Iranian students in Russia approached 10,000, with 802 of them studying at the expense of the Russian state budget" -
![Xi Jinping]()
Xi JinpingPresident of the People’s Republic of China"The foundation of our bilateral relations will only grow stronger, and we will confidently move forward to a better future. […] The striving of nations on our planet for peace, development, cooperation and mutual benefit remains unchanged. The vital mission of the Shanghai Cooperation Organisation is to maintain stability and promote the development of our region" -
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Joao Paulo CapobiancoBrazilian Minister of the Environment and Climate Change"The BRICS countries have a very high level of responsibility because they share an important part of the world's biodiversity, landscapes, populations, food production and water resources. So, we have an opportunity to lead by example. We have our development bank, which can demonstrate and develop new ways of financing programmes. We can reduce the risks for private capital to invest in restoration and efforts to combat desertification"
