Main points of Russia’s climate policy, the prospect of $50 billion in annual revenue
Annual revenue in Russia’s new climate sector could exceed $50 billion in the near future, President Vladimir Putin told the St. Petersburg International Economic Form. Russia, he said, had first to create conditions to attract both Russian and foreign investment.

Creating this climate sector must proceed along the following lines:

  1. The sum total of greenhouse gas emissions in Russia by 2050 must be lower than in Europe. By 1stOctober, the government is to present to the president a detailed plan of action on how to achieve this.
  2. A legal base is to be created within a year (by July 2022) to complete climate projects, both in terms of federal laws and by-laws or secondary legislation and methodology within institutions.
  3. CO2 energy emissions are to be lowered by virtual of construction of nuclear and hydropower stations and hydrogen. In particular, infrastructure is to be created to produce hydrogen from energy generated by nuclear power stations to be used as a raw material, fuel or energy sour
  4. CO2 energy emissions are to be lowered by virtue of construction of nuclear and hydropower stations and hydrogen. In particular, infrastructure is to be created to produce hydrogen from energy generated by nuclear power stations to be used as a raw material, fuel or energy source-uses to include the steel industry, cement production and transport. Work is to be continued on the disposal of associated petroleum gas. At the same time a deep modernisation is to be undertaken of thermal energy, the electrification of the gas transport network infrastructure, improving energy efficiency in housing and in heat delivery systems, transferring the operations of public transport to gas and electricity, hybrid engines, reducing the volume of materials in construction. 

4. State subsidised “green bonds” are to be issued. For this, criteria are to be established to assess the results of environmental projects (green taxonomy or classifications).

5. Development and introduction of technologies for capturing, storing and useful applications for carbon dioxide gas from all sources.

6. Trade in carbon units is to be developed. Work is to be pursued on improving the use of forests and land, raising their capacity to absorb. In particular, this will include boosting the area of forest restoration, containing forest fires, expanding the area of untouched nature and introducing new restored soils through agro-technology.

7. Full-fledged monitoring systems for emissions and absorption of greenhouse gases are to be created, based on observation from space, digital technology and methodologies of artificial intelligence.

8. A network of carbon testing sites is to be introduced, where checks on emissions and absorption of carbon dioxide are to be conducted in real time to provide assessments of the state of nature systems, water quality and other parameters. The first such site is to be created on Sakhalin.

9.  A system of mutual recognition of emission and absorption counts is to be created and agreed. A transparent system of climate statistics will be needed as well as mutual understanding between countries and, naturally, joint scientific research.


Share on facebook
Share on telegram
Share on email
Share on twitter
Share on vk
Share on odnoklassniki
Share on reddit

Add comments

Your email address will not be published. Required fields are marked *

China and India continue to increase coal production

China will retain its leadership in the coming years in production of steam coal used as a raw material for power plants. According to the Global Energy Monitor, by July 2022, China’s steam coal mining projects at the pre-investment stage had a capacity of 368 million tons of coal per year, with a further 19 million tons coming from the projects where mining of steam and coking coal will be shared.

read more ...

Malaysia approves world’s largest offshore CCUS project

Company Petronas has made a final investment decision on the CO2 capture, storage and utilisation (CCUS) project in the Kasawari gas field, 200 km off the coast of the Bintulu region, northern Malaysia. The project capacity is up to 3.3 million tons of CO2 equivalent per year, which makes it the largest CCUS initiative undertaken in the offshore oil and gas production.

read more ...


June 2021