Reshetnikov called for coordination of SCO countries' measures in the field of sustainable development

On November 17, Russian Minister of Economic Development Maxim Reshetnikov initiated the creation of the Council for Sustainable Development of the Shanghai Cooperation Organization (SCO) and the formation of a common financial infrastructure to coordinate environmental projects.

"The next step is to create a common financial infrastructure so that there are unified approaches to reporting, risk management, and green rating markets. And to coordinate these measures and joint projects, we propose to create the SCO Council for Sustainable Development," he said in a video message to the participants of the SCO Forum on Sustainable Development.

In his address, the Minister noted Russia's success in achieving the Sustainable Development Goals, including record reductions in unemployment and poverty, the growth of the agro-industrial sector and the development of green finance. He stressed that more than half of large Russian companies already submit emission reports, and a monitoring system for climate-active substances is being formed in the country.

Reshetnikov said that in September, a collection of the best technological solutions of Russian companies for sustainable development was presented, which they are ready to implement in the SCO space. According to the minister, the creation of a coordinating council and a common financial infrastructure will allow the participating countries to join forces in implementing environmental initiatives and improving the quality of life of citizens.

Eastern Links: Arab countries want to work more with the SCO

Why is this a signal to the United States and what Russia will benefit from it?

On October 2, Russian President Vladimir Putin spoke about the growing authority of the SCO in the world. He also called the BRICS member countries natural partners united by a common idea of "building relationships to find mutually acceptable solutions."

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