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Russia should prepare for de-carbonization, carbon tax in advance — Security Council

Dmitry Medvedev noted that it is required to develop a high-precision system for recording of greenhouse gas emission and absorption

MOSCOW, September 28. /TASS/. Russia needs early preparation for economic innovations introduced on the back of climate changes, including de-carbonization and the carbon duty, Deputy Chairman of the Security Council Dmitry Medvedev said on Tuesday.

Many countries are working now on de-carbonization of industries, transition to alternative energy sources, and launch of the greenhouse gas quotas trading system, the official said. The European Union plans to introduce a carbon duty since 2025, which may entail further huge payments to the EU budget for Russia, "taking into account a fairly large amount of trade turnover between Russia and the European Union member-countries," Medvedev noted.

"These are complex processes and we need to prepare in advance to all such economic innovations that are associated with climate changes," he added.

It is also required to develop a high-precision system for recording of greenhouse gas emission and absorption, Medvedev noted. Domestic approaches to the assessment of carbon intensity of products should be updated for their recognition at the international level, the official said.

Funding of research program on climate

Dmitry Medvedev added that financing of the Russian research and technical program on climate and environmental development could amount to almost 34 bln rubles ($468.7 mln) by 2030.

"Program funding by 2030 from the federal budget can amount to almost 34 bln rubles. One of the most important areas is to create an efficient system of climatic changes monitoring and receive as full and reliable data as possible," the official said.

"Exactly such data enable creating a multicolor picture of climate developments on the planet," Medvedev said. This is important for development of the economy at large and for provision of environmental safety, he added.