Photo from: Russian Environmental Operator
In Russia’s regulation of greenhouse gas emissions, restrictive measures can be avoided if market mechanisms are properly organised and the country develops a carbon market.
Over the last three years, it is not regulators who incentivise businesses to reduce their carbon footprint, but businesses who incentivise regulators to create favourable conditions for decarbonisation in their industries.
At the moment, Russian business itself is sufficiently motivated to limit greenhouse gas emissions. And its motivators are not quotas and taxes, but consumer behaviour. They have been following the agenda for a long time and are opting for environmentally friendly brands.
Another business motivator is investors who see decarbonisation as a guarantee of business sustainability and a return on their own investment.
Therefore, the first priority now is to create favourable conditions for business initiatives. Only after this stage is fully implemented is it advisable to move on to any restrictive measures.
Cover photo: Russian Environmental Operator
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