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Government Decree Containing Procedure for JI Projects Adoption and Review of Their Implementation In Russia Has Been Adopted

In order to enhance participation of the Russian Federation in joint implementation (JI) projects under Article 6 of the Kyoto Protocol Russian Federal Agencies had prepared draft text of the procedure for elaboration, adoption and further realisation of such projects, which was submitted to the Government at the beginning of January 2007.

On 28 May 2007 Prime Minister of the Russian Federation Mikhail Fradkov signed the .

Ministry of Economic Development and Trade of the Russian Federation (MEDT) is designed as a national focal point responsible for adoption of investment projects under Article 6 of the Kyoto Protocol, which are aimed at greenhouse gases emission reduction by sources and/or their removals by sinks “to economically and technologically feasible and environmentally appropriate levels”. Other concerned Federal Agencies are to review project documentation and realisation of projects within their competence.

Required list of documents, which must be attached to the application for further submission to MEDT by project investors, and their approximate content are mentioned in the Statute, as well as the order for review of applications by concerned Federal Agencies.

The order for submission of project realisation reports to the designated body (Federal Agency, designed by the Russian Government for conducting a review of realisation of each project), as well as the rules for elimination of a project from the approved list are established.

Targeted efficiency criteria for the projects and their standard value for each sector, source or sink, along with the limit for traded ERUs will be additionally established by MEDT. Total amount of tradable ERUs will likely account for 10% of the assigned amount of the Russian Federation or about 300 mln t of CO2 equivalent annually.

It’s also mentioned in the Statute that a co-operation agreement on realisation of JI projects may by signed with other Party wishing to participate in implementation of such projects in the Russian Federation. Draft text of this agreement, preliminary approved by the Ministry of Foreign Affairs of Russia, must be produced by MEDT to the Government by 1 September 2007.

According to PointCarbon, documentation on 54 Russian projects with total 79 mln ERUs has already been submitted to JISC. Due to final issuance of the National Procedure for JI projects adoption and review of their implementation by the Russian Government, a number of projects may increase significantly in the nearest future.

Categories: Climate change problem | Economical mechanismes of The Kyoto Protocol | Legislation and law inforcement

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