Russia and the European Union could deepen their cooperation over the issues of climate change, Frank Schauff, the chief executive officer of the Association of European Businesses (AEB) in Russia, told Sputnik on Monday, adding that European companies had advanced technologies in the area of energy efficienc
MOSCOW (Pakistan Point News / Sputnik - 10th February, 2020) Russia and the European Union could deepen their cooperation over the issues of climate change, Frank Schauff, the chief executive officer of the Association of European Businesses (AEB) in Russia, told Sputnik on Monday, adding that European companies had advanced technologies in the area of energy efficiency.
"Of course, we are monitoring what is going on in Russia. Surely, the EU and Russia can cooperate more closely on climate change issues. This can be facilitated by European companies that have advanced technology in energy efficiency. I think that the cooperation here is quite possible," Schauff said.
The AEB chief added that the introduction of certain "mechanisms of climate regulation" would benefit cooperation between Russia and European companies. This includes efforts for carbon financing a mechanism used for reducing the impact of greenhouse gases on the environment by giving a price to carbon emissions, according to Schauff.
In December, the World Bank published a report dedicated to Russia, in which the organization called on Moscow to introduce "carbon taxes or other forms of carbon pricing."
The AEB is a representative body of foreign investors in Russia, and its main goal is to boost EU-Russia business cooperation.
