21 february, 2019
Ecology National Project: Is there hope for private funding?
Author: Albina Dudareva, no comments
The state has promised to guarantee us a decent environment. The Ecology National Project has unprecedented targets in various respects, and the public certainly welcomes this.
The Civic Chamber helped draft these national projects. We are seeing today that the sources of funding for these projects have improved. If the state invests about a trillion rubles in this industry over several years, this will be very important and in the vital interests of people. However, the fact that 3.206 trillion rubles is supposed to come from private funding is a cause for concern. After studying waste management we fear that the industry’s investment appeal is too low and that we will only aggravate investment risks by constantly amending laws.
I think there is a problem here. Is there hope for private funding? If financiers have not invested anything in this area what are the grounds to think that they will develop a concern for the environment and put money into it? Or that business will suddenly start applying the already existing laws and switch to the best available technology at the expense of profit?
It is very good that a public nonprofit company has been established to help investors, and it will probably improve the investment climate. But it is necessary to work on this. It is important to improve environmental protection now without destroying technological progress. This is a task for all experts, the industry and the Ministry of Natural Resources and Environment.