The Russian and Global Carbon Unit Market: Problems and Prospects

As part of decarbonization and the national energy transition, climate legislation has been active in recent years. Key regulatory acts aimed at reducing greenhouse gas emissions have been adopted, a necessary regulatory framework established to regulate the release of carbon units from climate projects, and a system of emission quotas launched within the framework of the Sakhalin experiment. In 2023, a registry was created for climate projects and carbon units issued into circulation and for use in transactions and regulations introduced into legislation to develop relations in the production and consumption of electricity generated by low-carbon generating facilities alongside new decarbonization instruments for generation attributes and certificates of origin. However, for the market to function properly here and abroad, a number of important issues remain to be resolved to determine the nature of the relations governing the issue and turnover of carbon units (quotas) and applicable legislation, the legal qualification of carbon units (quotas), generation attributes and certificates of origin, rules governing such instruments, and issues around liability and forefeiture.