Oral presentation

What are the prospects for the organization of the carbon market in the Russian Far East?

Valentina V. Sokolenko, Yuliya K. Dyachenko & Elena A. Tyurina

Far Eastern Federal University, Vladivostok, 690090, Russia

The implementation of the climate policy strategic directions of reducing emissions in Russian Federation in accordance with adopted Decree № 752 on reducing greenhouse gas emissions sets a target of reducing emissions 25% below 1990 levels by 2020. In this regard, the development, adaptation and introduction of well-known instruments for controlling greenhouse gas emissions remains relevant for the regions of Russia. The cap-and-trade system for reducing emissions is recognized in the world economy. According to the World Bank, in 2017, the coverage of carbon pricing initiatives on global emissions has increased threefold over the past decade, translating to the equivalent of around 7 gigatons of carbon dioxide (GtCO2e), or about 13 % of global GHG emissions. The carbon market is sensitive to the political will of the governments, the uncertainty of the world economy, the willingness of society to pay for reducing the level of CO2. Looking ahead, next year could see the largest ever increase in the share of global emissions covered by carbon pricing initiatives in a single year. If the Chinese national Emissions Trading System (ETS) is implemented in 2017 as planned, it would become the largest carbon pricing initiative in the world, surpassing the EU ETS. The huge ecological potential of the Russian Far East with its forest and other ecosystems that play a planetary role in the carbon cycle and climate mitigation remains uninvolved in the market turnover. It serves the absorption of carbon dioxide on its territory and other countries, not covering the costs allocated from the budget for its protection. What are the institutional conditions and prerequisites formed in Russia for the organization of a regional carbon trading system in the Far East? What obstacles prevent the involvement of environmental potential in market relations for its protection and territory development? What is the advantage of voluntary carbon markets? All these issues related to the regulation of carbon emissions in the Russian Far East are going to be discussed.






© 2017 Organising Committee