YUZHNO-SAKHALINSK, August 1. /TASS/. Russia is currently experiencing explosive growth in climate regulation processes, according to Vladimir Lukin, an expert in greenhouse gas emissions regulation and author of several scientific works on fundamental ecology and environmental protection. He noted, however, that the issue of carbon pricing on the domestic carbon market remains unresolved.
"What is happening in Russia can be described as a successful, explosive growth in climate regulation. The infrastructure has truly been established, and essentially, the systemic application of market-based tools for decarbonization is now in place. That is, a carbon market has been created. And if you look at the quantitative indicators, they are quite impressive. In fact, they exceed those of many national emissions trading systems," Lukin stated.
Nevertheless, he pointed out that among the current challenges facing the carbon market is a lack of exchange-based trading in carbon units. This, the expert explained, stems from the fact that Russia has not yet developed or implemented a functioning carbon pricing mechanism.
"This is a very important issue, because without a reliable pricing tool, it is impossible to integrate this mechanism into the broader framework of socioeconomic development, including the implementation of the national strategy for low greenhouse gas emissions," the scientist said.
The Sakhalin Region is the first in Russia to conduct a climate experiment aimed at establishing a balance between greenhouse gas emissions and absorption, in accordance with an initiative ordered by Russian President Vladimir Putin. One of the key objectives of this experiment is for the region to achieve carbon neutrality by the end of 2025, whereby all atmospheric emissions will be fully offset by absorption.