6 Jul 2023 09:58

Giving foreign cos access to Russian carbon units market to require changes to federal law - Ministry

MOSCOW. July 6 (Interfax) - Russian government resolutions are insufficient to resolve the issue of granting foreign companies access to the carbon units market, the Finance Ministry said in its review of such a draft document, a source familiar with discussions on the initiative told Interfax.

It was reported earlier that the Economic Development Ministry drafted a government resolution to open up access to the carbon units market to foreign companies that do not have representative offices in Russia. The document would allow access to Russian carbon units through international electronic document flow systems, without the use of an enhanced qualified digital signature.

The Finance Ministry refused to support this draft resolution, noting that it contradicts current provisions of the federal law On Restriction of Green House Gas Emissions (No. 296, dated July 2, 2021) that require the use of enhanced qualified digital signatures. This law must first be amended and the Finance Ministry is prepared to consider such amendments, the source said.

However, the Finance Ministry advised the Economic Development Ministry to draft these provisions taking into account the federal law on electronic signatures, and to clear the proposed changes to the law with the Federal Security Service and Digital Development Ministry.