Due to the energy transition, the Russian economy will face a large-scale transformation, comparable to the “information revolution” of recent years, said Anatoly Chubais, special representative of the President of Russia for relations with international organizations to achieve sustainable development goals. According to him, energy is the “backbone of the national economy” of the Russian Federation, and changes in it, on the one hand, will make the country extremely vulnerable, and on the other, will provide “colossal opportunities.”
“I believe that we are now one step away from the beginning of a process of exactly the same scale, only not in information, but in energy. In energy, it seems to me, at the same time – in the next 30 years – a radical revision of all basic principles will take place. And I will emphasize that this is not only about the electric power industry, which is dear to me, but about industry, transport, agriculture, construction, and everyday life. In general, we are talking about all those areas where energy appears. They will all undergo profound fundamental transformations. This will change the life of each of us, it will change almost any business, “said Mr. Chubais during the Open Innovations forum (quoted by RIA Novosti).
According to the special representative of the president, Russia is very vulnerable to these changes due to the serious role of energy in its economy. “In Russia, this is not just one of the sectors, it is the backbone of the national economy: 20% of GDP, 40% of federal budget revenues, 60% of exports. This is generally serious … On the one hand, we are extremely vulnerable, and on the other hand, we have colossal opportunities. In addition to the fact that the energy transition will change all industries of the real sector in the country, without exception, it also opens up opportunities for the creation of those industries that now do not exist at all. I counted from five to ten new industries that are not present in the country today, ”he said.
Earlier, a similar point of view was expressed by the head of Sberbank German Gref. He said that Russia, against the backdrop of the energy transition and the authorities’ policy of maintaining tough macroeconomic stability in the coming decades, will be one of the most attractive world markets in terms of risk-reward ratio.
Read more about the “green” transition and its impact on the Russian economy in the column of Renault Seligmann, Director and Resident Representative of the World Bank (WB) in Russia, for Kommersant.
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