Maximov told an online conference dubbed “Energy: Challenges and prospects for a new era” that a draft bill had already been prepared and was under discussion. Two government agencies had submitted proposed norms for the project – the Ministry of Economic Development and the Energy Ministry – the latter proposed calling the certificates “low carbon”.
“Low carbon” applies to cases in which renewable resources and nuclear power are used and “green” to cases in which solely renewable sources are used.
The Energy Ministry noted that the certificates would create conditions “to attract investment not linked to obligatory support mechanisms and would activate voluntary demand for power produced by these sources”. It would also help Russian producers “involved in the export of energy-intensive production to maintain and consolidate their position on world markets in view of more stringent carbon regulations imposed by importing countries”.
The issuing, circulation and repayment of the certificates will likely be overseen by the association NP (non-commercial partner) “Market Council”.
It is suggested that participation in the system of certificates be voluntary – for both energy producers and consumers. The principle of mutual recognition of the certificates, particularly between Russia and the European Union, is under study in order that they might be introduced on foreign markets.