Russia, China can implement joint climate projects in renewable, nuclear energy - minister

MOSCOW. Oct 19 (Interfax) - Russia and China can implement joint climate projects in renewable and nuclear energy, Russian Economic Development Minister Maxim Reshetnikov said on the sidelines of the Russian-Chinese Energy Business Forum.

"Russia and China can implement climate projects based on low-emission technologies in the field of renewable and nuclear energy. Russia is ready to offer its Chinese partners a potential pool of green projects, which will take the bilateral cooperation to a fundamentally new level," the Russian Economic Development Ministry said in a statement.

Russia is interested in setting up "a permanent mechanism on the climate track" to facilitate the joint development of carbon markets and adapting to climate change and to boost scientific exchanges and green financing, it said.

Russia invites China to discuss the mutual recognition of climate project methodologies, confirmation standards, and examination results.

Chinese provinces are interested in cooperating with Russia's Sakhalin region, which is testing an emission quota system, Reshetnikov said.

"The Sakhalin region and the Guangdong province are working on a memorandum of mutual understanding in green and low-carbon development. Its signing will help establish dialogue with a major regional quota trading system in China, study Chinese carbon regulations and laws, and create prerequisites for linking regional carbon markets of Russia and China," he said.