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QUALITATIVE ASSESSMENT OF CLIMATE RISKS FOR COMPANIES IN THE RUSSIAN FUEL AND ENERGY COMPLEX

https://doi.org/10.17747/2618-947X-2024-3-252-259

Abstract

This paper presents the existing methodological recommendations for assessing the climate change risks of fuel and energy companies. The classification of climate risks is presented in accordance with the most authoritative methodological recommendations for assessing climate risks - the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD). Climate risks are divided into two categories: risks associated with the effects of climate change (physical risks) and risks associated with the transition to a low greenhouse gas economy (transition risks). Physical and transition risks are described, as well as the possible consequences associated with the occurrence of the risk. Climate risks of three Russian companies representing the Fuel and Energy Complex (FEC) are considered. For each company, a description is given of the risks, both physical and transient, identified by the companies as a result of climate change and the mitigation or adaptation measures developed by the companies. Conclusions are drawn on the need to assess climate risks and take them into account when implementing the business process of managing greenhouse gas emissions in order to reduce future costs arising from the onset of climate change. 

About the Authors

I. A. Nagaitsev
Siberian State Industrial University (Novokuznetsk, Russia)
Russian Federation

Postgraduate student, Siberian State Industrial University (Novokuznetsk, Russia). ORCID: 0009-0004-0777-0857.  

Research interests: industrial economics, environmental economics, climate change economics, greenhouse gas emissions management. 



T. V. Petrova
Siberian State Industrial University (Novokuznetsk, Russia)
Russian Federation

Doctor of economic sciences, professor at the Department of Management and Sectoral Economics, Siberian State Industrial University (Novokuznetsk, Russia). ORCID: 0000-0002-5399-9060.  

Research interests: regional and sectoral economics, production management, business economics and organisation. 



A. A. Komendant
Center for Energy Research (Moscow, Russia)
Russian Federation

Head of the Department of Sustainable Development, Center for Energy Research (Moscow, Rissia).  

Research interests: management of greenhouse gas emissions, adaptation to climate change, modern climate policy. 



References

1. Nagaytsev I.A. (2022). Organizational mechanisms for reducing greenhouse gas emissions. Economics in Theory and in Practice: Сurrent Issues and Modern Aspects, 60-65. https://naukaip.ru/wp-content/uploads/2022/10/МК-1520.pdf. (In Russ.)

2. Sitnik A.A. (2022). Green finance: Concept and system. Actual Problems of Russian Law, 17(2): 63-80. DOI: 10.17803/1994-1471.2022.135.2.063-080. (In Russ.)


Review

For citations:


Nagaitsev I.A., Petrova T.V., Komendant A.A. QUALITATIVE ASSESSMENT OF CLIMATE RISKS FOR COMPANIES IN THE RUSSIAN FUEL AND ENERGY COMPLEX. Strategic decisions and risk management. 2024;15(3):252-259. https://doi.org/10.17747/2618-947X-2024-3-252-259

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ISSN 2618-947X (Print)
ISSN 2618-9984 (Online)