RusAg: ESG as a point of agribusiness growth and a stimulus to export to developed markets

ESG compliance could become a competitive advantage for Russian agricultural exporters, said Anna Kuznecova, a Deputy Chairman of RusAg’s Board, speaking at the Innovative Practices: Science Plus Business congress.

Financial institutions and large businesses participating in a session titled ESG in Agro: Green or Carbon discussed the impact of global agriculture on the environment and national economic development.

According to global research, agriculture’s contribution to carbon emissions ranges from 20 to 30%, coming from livestock production and land use. Although Russian agriculture is contributing only 7% to total greenhouse emissions (Rosstat), agricultural holdings in Russia are very keen on the green agenda and Russia’s ESG ranking includes producers of fertilisers and animal products.

RusAg is implementing multiple initiatives for sustainable development. It has established Ecology Fund to support the sustainable development of agribusiness. It helps clients source finance for environmental projects; communicates the best agricultural practices and ESG to clients from agribusiness at its Farmer’s School; develops rural areas, helps create jobs and implements a programme for agro tourism + Svoe.Fermerstvo and Svoe.Rodnoe (A World of My Own. Farming; A World of My Own).

‘In our efforts to develop a line of green and adaptive finance products we will be guided by the Taxonomy approved this September by the Russian Government, and this will help us deliver on our ESG projects,’ added Anna Kuznecova.