BAKU, Azerbaijan, November 6. Today's green transition is run by ideological and political aims rather than economics, President of the Institute of World Economy and International Relations (IMEMO) named after E.M. Primakov, Academician of the Russian Academy of Sciences Alexander Dynkin said, Trend reports.
He made the remark during the panel session themed "Habitat: everyone has their own, everyone has the same" at the 21st Annual Meeting of the Valdai International Discussion Club in Sochi today.
"Today, the focus is on completely eliminating CO2 emissions, meaning a shift away from fossil energy sources. In my view, this is creating a growing bubble in the pursuit of sustainable development goals, as the focus on nature conservation is increasingly turning into an overly optimistic and irrational frenzy.
This is reflected in unrealistic plans for an accelerated transition to renewable sources, inflated investments in renewable energy, and, in my opinion, the unjustified capitalization of so-called ESG (environmental, social and governance) companies," the expert also said
Dynkin threw a spotlight on the hiccups in German automotive manufacturing, hinting that there's no need to jump the gun.
"In this regard, I would like to present a hypothesis that the 'green' transition today is driven more by ideological and political goals than by economics. It seems to me that the West harbors certain hopes that the 'green' transition will become the foundation for a new social contract, meant to replace the old one based on universal prosperity.
As for developing countries, I believe the situation is even more unacceptable, as under the guise of the 'green' transition, a form of 'green' neocolonialism is being implemented. This is especially apparent when we consider that the 2030 sustainable development goals will largely remain unmet, and this is already being openly acknowledged," he added.
To note, the 21st Annual Meeting of the Valdai International Discussion Club commenced in Russia’s Sochi on November 4.
This year's theme is "Lasting Peace On What Basis? Common Security and Equal Opportunities for Development in the 21st Century."
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