Deputy Prime Minister Viktoria Abramchenko has approved the conditions for conducting an experiment on trading quotas for greenhouse gas emissions on Sakhalin. Europe’s emissions trading system, the largest in the world, is valued at more than € 51.4 billion per year.

On behalf of Deputy Prime Minister Victoria Abramchenko (in charge of ecology in the government), an experiment should be conducted on the trade of carbon units (greenhouse gas emissions) in the Sakhalin region, her press service reported.

RBC has a copy of the corresponding ‘road map’, which was approved by Abramchenko. This document was prepared by the Ministry of Economic Development together with the government of the Sakhalin region. As a result, it is planned for the first time in Russia to create a ‘carbon unit’ trading system and ensure that the region is carbon neutral by 2025.

According to Abramchenko, a regional inventory of emissions and absorption of greenhouse gases will be carried out on the example of Sakhalin, and the necessary infrastructure for supporting climate projects will be created. She added that the most important outcome of the experiment should be the formation of a regional system of trading with greenhouse gas emissions and its integration with international trading systems with the assistance of the Ministry of Foreign Affairs. “This project is for the future and for export,” added the Minister of Economic Development Maxim Reshetnikov (his words were reported by the Ministry's press service).

Sakhalin will become a pilot region, and provided successful results of the experiment, it is planned to expand it to other territories, follows from the message by Abramchenko’s press service. It is planned that as early as in July 2021 a bill on conducting an experiment to establish a special regulation of greenhouse gas emissions in the Sakhalin region for the period until 2025 will be submitted to the State Duma. “We expect that participation in the experiment will be of interest to investors in green projects and to companies that plan to increase the ambition of their climate action,” Reshetnikov said.

https://www.rbc.ru/business/19/01/2021/6006b13e9a79471535e92a12

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