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Regulators would do well to develop a climate strategy with more ambitious climate targets and a comprehensive strategy to reduce GHG emissions in the oil and gas sector (including a strategy to reduce methane emissions). It may include a variety of regulatory mechanisms standards, targets, requirements for monitoring, reporting and pricing of GHG emissions, rules for certification and verification of projects to reduce emissions, etc. It is also important to approve public funding for R&D and pilot projects to reduce GHG emissions, especially in areas of deep decarbonization. It is necessary to further analyze the competitive advantages of Russia in the field of decarbonization, and then promote them both domestically and on the world market. Corporations should include decarbonization in their overall business strategy and investment plans, rather than limiting it to health, safety, environment and investor relations departments. To implement an effective decarbonization strategy for any company, it is necessary to review the strategy and corporate governance as a whole.