The Launch of the Carbon Units Market in Russia – Ready to Start
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On July 26, the International and Comparative Law Research Center and the operator of the Russian Registry of Carbon Units held the round table, devoted to the launch of the carbon market in Russia. The market will start working on September, 1, 2022, in framework of implementation of the Federal Law of July 2, 2021, No. 296-ФЗ “On limiting greenhouse gas emissions”.
More than a hundred specialists took part in the event. Representatives of executive authorities, accredited validation and verification bodies, operator of the Russian Registry of Carbon Units, developers and performers of climate projects, public markets and off-markets, as well as representatives of the Sakhalin region, which is preparing to implement the Carbon Neutrality Pilot Scheme, were the speakers. Natalia Tretyak, First Vice President of Gazprombank, moderated the round table.
The participants discussed the principles of the carbon market functioning, climate projects validation and verification methodologies, details of work with the Registry, possibilities and instruments of circulation carbon units on the market.
During the discussion, a wide range of proposals were given, as well as commentaries on the use of the possibilities the carbon market provides. It was decided to continue further consultations and expert discussions with all concerned parties.