Russia will adopt “climate” regulation for the first time – Hydrogen technology solutions

Russia will adopt “climate” regulation for the first time



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On February 17, 2021, the Government of the Russian Federation at a meeting supported the draft law on limiting greenhouse gas emissions prepared by the Ministry of Economic Development. The document provides for the introduction of a phased model for regulating greenhouse gas emissions without taxation and mandatory payments.

“The government, on behalf of the President of Russia, has prepared a draft law on limiting greenhouse gas emissions. This is part of our international obligations under the Paris Agreement and the new climate policy of the Russian Federation. This is the first time we have adopted such regulation, ” Prime Minister Mikhail Mishustin said at a cabinet meeting.

According to him, on the basis of this document, a system of state accounting and implementation of projects to reduce greenhouse gas emissions and increase their absorption will appear.

The concept of the bill includes two major blocks:

Introduction of mandatory carbon reporting for the largest emitters of greenhouse gas emissions (more than 150 thousand tons of carbon dioxide equivalent at the 1st stage until 2024), the collection and compilation of which will be carried out by the government-authorized authority. Other organizations will have the right to submit carbon reports on a voluntary basis.
The formation of a legal framework for the circulation of carbon units-as a tool to reduce the carbon footprint and attract investment.

The Ministry of Economic Development of the Russian Federation believes that this will create an information basis for managing greenhouse gas emissions in the economy and its industries.

“The new regulation will allow businesses to implement their own” climate projects”, and their implementation will allow them to attract” green” investments, ” Mikhail Mishustin added.

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