Foreigners given no easy access to climate quotas in Russia
Foreign companies seeking to make money in Russia under the Kyoto Protocol will face hard times, as Russian authorities say they will do what they can to obstruct the climate deals. Still, in Northwest Russia, historic climate quota deals have already been made.
The state official in charge of Kyoto implementation in Russia said to Reuters Thursday that “the most correct approach is forbidding everything but allowing certain things to go forward. The worst approach is to approve everything but say certain things are forbidden”
Deputy Economic Development and Trade Minister Vsevolod Gavrilov confirmed that “we are working according to a principle of rejection”, the Moscow Times reports.
Despite the negative Russian position on the Kyoto deals, historic agreements have still been made. In Northwest Russia, Finnish energy major Fortum has agreed with Territorial Generating Company No. 1 about the purchase of approximately 5 million tonnes of emission reduction units (ERU). The deal is the largest ever trade of CO2 emission reduction units in Russia
Read more:
Historic Finnish-Russian climate quota deal signed BarentsObserver.com, 22 February 2008
