Formation and Development of The Russian Market of Carbon Units

Abstract

The article examines the prerequisites for the formation of the sequestration industry in Russia, in particular by the example of the carbon units market. The main factors that influenced its formation are considered, and a comparative analysis of foreign mechanisms for reducing the carbon footprint in industrial products is also carried out: the introduction of carbon taxation and the use of market mechanisms for the circulation of carbon emission quotas. Russia has followed the second path, and already in 2022 a market infrastructure for trading carbon units was formed and tested. The article presents the results of a study of the main participants of such a market, as well as the ways and mechanisms of their interaction both when making transactions and when obtaining and confirming the official status of a participant in the carbon market. The circulation of carbon units in Russia has both common, similar to international rules and regulations, and its own specific features. Despite the fact that the circulation of carbon units is carried out through open exchange trading, all activities for their release and alienation are recorded in the unified state register under strict state control on the basis of uniform principles and rules. In addition, such a register contains complete verified information about all market participants. Transactions that have not passed such verification and registration are not allowed. All these measures are aimed, first of all, at increasing the manageability of the decarbonization processes of our country's economy and, as a result, accelerating its pace. In addition, the article discusses the prospects and key trends in the development of the carbon market in our country.