The possibilities for reducing the financial burden within the framework of the EU CBAM mechanism (in Russian)
These include the Regulation of the European Parliament and of the Council establishing a carbon border adjustment mechanism that includes the basic rules of the so-called Сarbon Border Adjustment Mechanism (CBAM), or, as it is often called, "cross-border carbon regulation". The document, among other things, clarifies the purpose of the mechanism, defines the "carbon price".
In this Note, we analyze the possibilities for reducing the financial burden on exporters of the regulated carbon-intensive products and compare the elements of the "carbon price" with Russian regulation.
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Mr. Sitnikov has specialized in supporting climate projects, consulting on carbon markets, carbon trading and ESG since 2004. Sergey was actively involved in the work on the Russian federal and regional carbon regulations. In 2022 he participated in the work of the Article 6.4 Supervisory Body (COP27, Sharm El-Sheikh). Mr. Sitnikov advised, among other things, major Russian and international companies on the implementation of climate projects in Russia and abroad, as well as the regulator on various issues of climate regulation. Since 2014 Sergey Sitnikov has been annually recognized by independent international and Russian legal ratings as a leading lawyer in the "Environmental Law" field. Since 2008 till 2019 Mr. Sitnikov acted as a Visiting Professor at Moscow State Institute of International Relationship (MGIMO), International Institute of Energy Policy and Diplomacy, with his course of lectures related to various energy and carbon regulation issues. Sergey Sitnikov is the author and co-author of a number of scientific researches and books, including: - The Oxford Handbook of International Climate Change Law. Oxford, Oxford University Press, 2016; - Civil Law Regulation of Oil Transportation by Pipelines: Acute Issues, YusticInform, Moscow, 2012; - Climate Change Liability. Transnational Law and Practice, Cambridge University Press, UK, 2012; - Energy Law in Russia and Germany. Comparative Law Research, Yurist publishing group, Moscow, 2011; - Trading In Air: Mitigating Climate Change Through the Carbon Markets, Infotropic Media, Moscow, 2010 and of numerous practice-oriented articles on carbon regulation and ESG, including: - “Implementation of climate projects in the field of waste management”, TBO. Waste Management Scientific Journal, April, 2023; - “Road map of the ESG-strategy. How to start a company transformation”, Corporate Lawyer Journal, February, 2023; - “Carbon regulation in Russia: origins and peculiarities.”, The Eurasian Scientific Journal, 14(6): 44ECVN622. Available at: https://esj.today/PDF/44ECVN622.pdf; - “Carbon Border Adjustment Mechanism”, Industry Ecology Journal, November, 2021; - “20 Steps on the Way to ESG-Transformation”, Industry Ecology Journal, December, 2021; - “Emission trading scheme as an alternative to the modern system of normatives”, Industry Ecology Journal, August 2016; - “New Procedure for Joint Implementation Projects in Russia”, Thomson Reuters Russia/Eurasia Executive Guide, December 2011; - “Money Out of Thin Air”, RBCC Bulletin, Issue 2, March 2010; - “Russia's new JI rules could break logjam”, “Point Carbon”, November 2009; - “Who Owes Whom? Legal Schemes of JI Projects' Implementation in Russia: Analysis and Recommendations”, Mirovaya Energetika No.1, 2008; - “Investors Get the Green Light”, Mirovaya Energetika, No.8, 2007; - “The potential for generating and selling Voluntary Emission Reductions in associated oil gas projects”, Oil, Gas & Law, No.6, 2007; - “Keys to the Carbon Transactions”, Delovoi Ekologicheski Journal, No.2, 2007; - “Agreement for Transportation of Oil by Pipeline: Theories and Practice of Drafting and Usage”, Oil, Gas & Law, No.4, 2007; - “Pledge of Oil, Transported through System of Pipelines”, Pravo I Ekonomika, #3, 2007; - “Pledge of Oil Transported by Pipelines,” The Oil, Gas and Law Journal, 2005, No.1; - “Civil Law Aspects of the Transportation of Oil Using Pipelines,” The Oil, Gas and Law Journal, 2004, No.4.