Anastasia Basova spoke about carbon regulation in India

On December 14, the Center’s expert Anastasia Basova took part in the round table “The Experience of Carbon Regulation in Foreign Jurisdictions”, organized by the International Chamber of Commerce  World Business Organization (ICC Russia) at the EPAM with the support of UC RUSAL.

The agenda included the issues of sustainable development regulation in APEC economies, formation and development of carbon markets in such jurisdiction as India, China, and EAEU.

Anastasia presented a detailed review of India’s carbon regulation based on the “Climate Brief” of this country prepared by the Center. She spoke about its current status and prospects for development, and about Russian-Indian cooperation.

It was noted that the most active countries in implementing ESG principles, in particular, in creating a legislative framework for ESG-ratings, formation of green instruments on exchanges, as well as compliance with non-financial reporting are Qatar, UAE, Saudi Arabia, and Malaysia.

Following the results of the COP28, the participants discussed the formation of carbon markets. It was noted that China has relaunched the CCER market, India is planning to make a regulatory framework for a national emissions trading system (ETS) by 2026, Turkey will adopt a law on ETS as part of the 2024-2026 medium-term plan, however, the timeframe for implementation of the system is not specified.

Participants also mentioned correlations between digitalization and the sustainable development, in particular the use of artificial intelligence in combating climate change. And the leader in this area, from all accounts, is China.