Russia can create exchange for CO2 emission quotas trading

TASS Russian News Agency | Feb 16, 2021 at 4:57 PM

MOSCOW, February 16. /TASS/. Russia plans to create an exchange for trading of greenhouse gas emission quotas, Deputy Energy Minister Pavel Sorokin says on Tuesday at the 8th Conference on strategic cooperation between Russia and Germany.

Russia should act in line with counterpart global initiatives for transition to the more ‘clean' energy in the issue of establishing a specialized trading platform, Sorokin said.

"Owing to approved laws, we are considering now a pilot project to establish a platform for registration and exchange of emission trading quotas in Sakhalin. This is like the first experiment and this issue is under deliberation now," the official said.

Russia is also working on issuing ‘green' certificates for clean energy producers, Sorokin said. "This energy will be marked by special certificates that can be used further by equipment or product manufacturers to demonstrate cleanliness of their produce," he added.

Russia can capture good positions in the global hydrogen production sphere because of huge gas resources, mature infrastructure and surpluses in the energy system of certain Russian regions, the deputy minister said.

"Therefore, we definitely set high and ambitious tasks in this area for ourselves, so that to have sound positions when the hydrogen trading market indeed appears," Sorokin said. Proactive cooperation in hydrogen production, transportation and storage is currently considered in particular with Germany, Japan and South Korea, he added.