MOSCOW, July 2. /TASS/. Russian President Vladimir Putin has signed a bill into law that introduces carbon reporting for legal entities and individual entrepreneurs, and limits greenhouse gas emissions. The respective document was published on the official portal of legal information on Friday.

This legislation stipulates that the regulation of such emissions will be introduced gradually. The issue is particularly about the introduction of obligatory carbon reporting, the collection and integration of which will be implemented by a power structure authorized by the government.

The largest emitters of greenhouse gases equivalent to 150,000 tonnes of carbon dioxide per year or higher through January 1, 2024, will be subject to this regulation. Such companies will have to provide reports starting on January 1, 2023. Those generating 50,000 tonnes of carbon dioxide per year or higher will be subject to this regulation starting on January 1, 2024. They will have to provide reports on greenhouse gas emissions starting on January 1, 2025.

The document also introduces the concept of a "target for reducing greenhouse gas emissions". It will be set by the government all over the economy of the Russian Federation considering the absorption capacity of forests and other ecosystems, and the necessity to ensure a stable and balanced social and economic development of the country.

The law stipulates the right of legal entities and individual entrepreneurs to implement climate projects aimed at the reduction of greenhouse gas emissions and the increase of their absorption. It also envisions the creation of a register of greenhouse gas emissions for government accounting. This is going to be a state information system maintained by an authorized federal executive body. The order of creating and keeping the register will be set by the government.