First deal to sell Russian carbon units abroad completed
Chairman of Equity International General Trading, Salem Humaid Saif Almzaini, said that the company views the transaction as the first step to integration of the BRICS countries’ carbon markets.
Gazprombank has carried out the first transaction on sale of Russian carbon units abroad, which involved the transfer of carbon units issued from a climate project to protect forests from wildfires implemented by JSC Rusal Krasnoyarsk to the United Arab Emirates’ (UAE) Equity International General Trading investment fund, the press service of the Russian bank reported following the BRICS Business Forum.
"The successful transaction on sale of Russian carbon units to a foreign buyer demonstrates the readiness of the infrastructure of the Russian Carbon Units Registry for international trade. We work systematically on creating a high-quality carbon units market in Russia with a particular focus on developing the methodological framework, increasing confidence in Russian climate projects and building long-term partnerships with foreign players," First Vice President of Gazprombank Ekaterina Salugina-Sorokovaya said.
Chairman of Equity International General Trading, Salem Humaid Saif Almzaini, said that the company views the transaction as the first step to integration of the BRICS countries’ carbon markets, which may be followed by the creation of a common carbon trading platform by Russia and the UAE. "This platform could be located in Dubai and serve as a prototype carbon facility to be open for all of the potential carbon market participants from BRICS countries," he said.
Commitment to carbon neutrality is a global economic trend, Director of Sustainable Development at Rusal Elena Myakotnikova said, adding that countries can join efforts in the field of low-carbon economy within BRICS. "We are pleased that our forest climate project implemented in full compliance with current quality criteria for such projects, has become the initial case of the transaction with Russian carbon units at the international level," she noted.
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Gazprombank has carried out the first transaction on sale of Russian carbon units abroad, which involved the transfer of carbon units issued from a climate project to protect forests from wildfires implemented by JSC Rusal Krasnoyarsk to the United Arab Emirates’ (UAE) Equity International General Trading investment fund, the press service of the Russian bank reported following the BRICS Business Forum.
"The successful transaction on sale of Russian carbon units to a foreign buyer demonstrates the readiness of the infrastructure of the Russian Carbon Units Registry for international trade. We work systematically on creating a high-quality carbon units market in Russia with a particular focus on developing the methodological framework, increasing confidence in Russian climate projects and building long-term partnerships with foreign players," First Vice President of Gazprombank Ekaterina Salugina-Sorokovaya said.
Chairman of Equity International General Trading, Salem Humaid Saif Almzaini, said that the company views the transaction as the first step to integration of the BRICS countries’ carbon markets, which may be followed by the creation of a common carbon trading platform by Russia and the UAE. "This platform could be located in Dubai and serve as a prototype carbon facility to be open for all of the potential carbon market participants from BRICS countries," he said.
Commitment to carbon neutrality is a global economic trend, Director of Sustainable Development at Rusal Elena Myakotnikova said, adding that countries can join efforts in the field of low-carbon economy within BRICS. "We are pleased that our forest climate project implemented in full compliance with current quality criteria for such projects, has become the initial case of the transaction with Russian carbon units at the international level," she noted.
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