2 Sep 2021 18:25

U.S. companies interested in creation of emission trading system in Russia - AmCham head

VLADIVOSTOK. Sept 2 (Interfax) - American companies are interested in having an emission trading system created in Russia, American Chamber of Commerce in Russia (AmCham) President and CEO Alexis Rodzianko said.

"I believe yes. Russia has great opportunities here, and one of the options for acquiring such emission credits is the planting of forests. And as you know, there are more forests in Russia than anywhere else, and so there's huge potential here," Rodzianko said in an interview with Interfax at the Eastern Economic Forum (EEF).

One company that is an AmCham member is exploring possible locations "where woods can be planted to get credits, which can be traded," Rodzianko said. "So there's an obvious interest," he said.

U.S. companies are monitoring the launch of the carbon border adjustment mechanism (CBAM) in the European Union, Rodzianko said. "They've been concerned about environmental protection for a long time, and therefore, I believe the new EU mechanism won't take them by surprise," he said.

It is important for Russia to join efforts against climate change, Rodzianko said. "Global climate can't be influenced without Russia, that's a fact. The two countries are interested in working together, and therefore, we'll make efforts as well," he said.

It was reported in January 2021 that Russia was considering the creation of a carbon emission trading mechanism analogous to the European one.