Putin Says Russia Won't Repeat Others' Mistakes in Transition to Green Technologies

Russian President Vladimir Putin promised the country that it will not be part of the "hysteria and mess in the markets" of green technology during a cabinet meeting Tuesday, assuring a smooth transition, unlike Europe's, the Associated Press reported.

"See what's going in Europe—there is hysteria and mess in the markets. Why? Because nobody takes it seriously," he said. "Some speculate on the climate change issues, some underestimate certain things and some others start cutting investments in the mining industries."

Putin claimed that the current situation with soaring natural gas prices in Europe was partly rooted in a lack of investment, a mistake he said he would not repeat.

"There must be a smooth transition," he said. "We see what certain unbalanced decisions, unbalanced development and sharp twists can lead to. We can see it well today in the European energy markets."

Putin said Russia's effort to cut emissions will not be difficult as it relies mostly on fossil fuel exports, but that the country will abide by obligations from the 2015 Paris agreement to wisely handle climate change.

For more reporting from the Associated Press, see below.

Russian President Vladimir Putin
Russian President Vladimir Putin promised the country that it will not be part of the “hysteria and mess in the markets” of green technology. Above, Putin during a cabinet meeting outside Moscow on October 5, 2021. Alexei Druzhinin/Associated Press

"The tasks of reducing a negative impact on climate mustn't become a heavy burden for business and our citizens," Putin said Tuesday. "Just the other way round, the decisions we make must help spur growth and technological development of the Russian economy."

Putin argued that Russia has a strong edge in hydropower and nuclear power generation and should develop them, but noted the need to ensure a "sustainable development of the oil and gas complex."

Some in the West see Russia's climate change goals as not ambitious enough as the waste from burning fossil fuels heats the planet.

Moscow has faced demands to sign up for a future "net zero" emissions target at the United Nations-sponsored climate negotiations that open in Glasgow on October 31. The Kremlin hasn't revealed its stance on the issue yet.