On March 17, 2015, the Working Group of the Ministry of Economic Development and the all-Russian public organization ‘Business Russia’ are meeting with representatives of the World Bank Group to discuss climate and carbon finance initiatives.

This meeting is part of an on-going dialogue on climate change mitigation and adaptation between the Russian Federation and the World Bank Group.

The meeting is an opportunity to share information on the objectives and structures of two initiatives managed by the World Bank Group: the Partnership for Market Readiness and the Pilot Auction Facility.

The meeting will include presentations by World Bank Group representatives on the existing plans in countries such as China, South Africa and Kazakhstan to pursue an emissions trading scheme or carbon tax. It will also cover the recently launched Pilot Auction Facility, an innovative climate finance initiative which is planning its first auction to support methane reduction projects in developing countries by mid-year, as well as presentations by ‘Business Russia’ on the potential of reducing methane emissions across various sectors in the Russian Federation.