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Law on limiting greenhouse gas emissions adopted in the State Duma
In the first reading, State Duma deputies adopted a law on limiting greenhouse gas emissions. Experts call the regulatory model minimal, noting that the initiatives of the regions, in particular, Sakhalin's experiment on the creation of an exchange for trading greenhouse gases, come out on top.
According to "Merchant”, The development of the law on the regulation of greenhouse gas emissions began in 2017. According to the decree of the President of Russia, by 2030 emissions must be reduced to 70% compared to 1990 levels.
According to experts, the burden on companies will be minimal. They will be able to implement their own climate projects to reduce emissions and increase absorption of greenhouse gases. Only large enterprises with emissions of more than 150 thousand tons of carbon dioxide equivalent per year will be required to submit carbon reporting. Further, after 2024, this level will be reduced to 50 thousand tons. At the same time, mandatory verification of these reports is not required.
According to Oleg Pluzhnikov, Deputy Chairman of the Committee for Nature Management and Ecology of the Chamber of Commerce and Industry, this law will minimize the burden on business and, at the same time, will be able to provide information on greenhouse gas emissions. Other experts note that such regulation will allow Russian companies to do without carbon duties that are being introduced in the EU.
However, ecologists believe that the adopted law is the minimum of what is necessary. According to Alexei Kokorin, head of the Climate and Energy Program of WWF Russia, against the background of what other countries are doing to achieve carbon neutrality, this is a “deep minimum”. In his opinion, regional projects could have a stronger impact on the development of the carbon regulation system.
In particular, we are talking about the Sakhalin project to achieve carbon neutrality. The region has created Russia's first system for trading greenhouse gas emissions. The first deal will take place in July 2022... Until that time, they will conduct an inventory of emissions and absorption of greenhouse gases, create the necessary infrastructure. Also, an inventory will be created on Sakhalin, which will show which types of economic activities account for more than 80% of emissions.