Head of Market Sector Clients — Dmitry Snesar, Senior Vice President at VTB at ESG - Right Here! Right Now? session

On the stage is wooden furniture made of crates, i.e., manufactured from recycled materials.

“So, we arrive at ESG. These three letters stormed into our lives not a year and a half ago and have already gone mainstream. Many a great mind have expressed their views on it. One might think there is nothing more to say. However, in my opinion, ESG has one aspect that I think is key. And this aspect is, as I see it, undeservingly overlooked — the social aspect”. “Historically, developed countries whose population is five times smaller, except for India and China, have emitted almost 65 billion more tons of CO2. In order to reach the developed countries level, poorer countries will have to emit 41 billion tons of CO2 annually. Personally, this makes me look at the ESG discussion from a different angle”, said Dmitry Snesar. “Energy consumption costs in Europe have increased 2- to 3-fold. Obviously, this is due to the energy transition and the departure from traditional energy sources…Because of that, we will eventually become greener, but possibly also poorer»

“Speaking of the rich and the poor, the 11-minute flight by a client of BlueOrigin, which belongs to a big ecology afficionado Jeff Bezos, emitted about 85 tons of carbon dioxide per one person, while the aircraft fleet used to fly the forum participants to Glasgow emitted 13 thousand tons of CO2”.