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Russia's first forest-climate project begins in Yamal

Under the project, specialists will improve climate initiatives methods, test effective mechanisms and methods to build up liquidity and value of carbon units formed in the Arctic, as well as to stimulate their traffic on the global carbon market

MOSCOW, October 21. /TASS/. The first forest-climate project in the Russian Federation's Arctic Zone will be implemented in Yamal, press service of the Arctic Development Project Office (PORA) told TASS.

"The first forest-climate project in the Russian Arctic is being launched in Yamal. <...> The project is aimed at creating a natural and climatic range, at restoring and reproducing forest ecosystems, as well as at developing carbon monitoring. It includes forest planting, a remote forests monitoring system, soil and environmental studies, and assessing the potential for carbon accumulation," the press service said.

Under the project, specialists will improve climate initiatives methods, test effective mechanisms and methods to build up liquidity and value of carbon units formed in the Arctic, as well as to stimulate their traffic on the global carbon market. The work's partner is the Izrael Institute of Global Climate and Ecology.

"The project's key task is to emphasize methodology of climate projects for the Arctic territories and to give an impetus to liquidity of such projects on the international market. By solving this difficult task we will draw attention to the Russian market for climate projects to make it more liquid by using Arctic carbon units. Capitalization of the Arctic carbon units may provide an additional source of financing Arctic development projects," the Arctic Development Project Office's Director General Maxim Dankin said.

According to the press service, 82 climate projects have been registered in Russia. Climate projects are of two types: natural and technological. Only three climate projects are being implemented in the Arctic, and they are technological projects. Forest-climate projects are designed to increase forests' ability to absorb greenhouse gases and help Russia become carbon neutral by 2060.

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