Russia intends to achieve carbon neutrality no later than 2060, use potential in implementing ecosystem projects - president's advisor

MOSCOW. Dec 11 (Interfax) - Russia intends to achieve carbon neutrality no later than 2060, and is also contemplating voluntary allocation of a financial contribution to the Loss and Damage Fund at the expense of frozen gold reserves in international organizations, Russian presidential advisor Ruslan Edelgeriyev said.

"We [...] remain committed to the aims of the Paris Agreement. We intend to achieve carbon neutrality no later than 2060 and attain all other national goals assumed for the fulfilment of this crucial document. No one and nothing will hinder us in this," Edelgeriyev was quoted on the Kremlin's website on Saturday as voicing Russia's national declaration at the 28th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP28).

Russia continues to develop a carbon market "combining both voluntary elements, such as climate projects, and mandatory ones, an experimental emissions trading system," Edelgeriyev, who is leading the Russian delegation at the international event, said.

"We are making a special emphasis on qualitative methodological support, to which end we are constantly perfecting our normative base," he said.

Russia intends to employ maximum potential in implementing ecosystem projects, introducing nature-like technologies and other natural solutions conducive to the attainment of the UN Sustainable Development Goals, the official said. "We are making efforts for the creation and introduction of innovative ways of restoring ecosystems to raise their absorptive capacity. We want to note especially a project to develop a Pleistocene Park in the Republic of Sakha (Yakutia), everyone who wants to is invited to visit the site dedicated to it. We welcome international participation in this and other projects on our territory," Edelgeriyev said.

"Russia is considering a matter of voluntary allocation of a financial contribution to the Loss and Damage Fund at the expense of frozen national gold reserves in international organizations," he said. "This step is dictated by the urgent needs to eliminate the gap between the needs of developing countries and their capabilities," he said.

"We are counting on progress in the talks over the development of cooperation mechanisms under Article 6, the global aim of adaptation, and a new collective, quantitative aim of finance in the post-2025 period," Edelgeriyev said.

COP28 is taking place in Dubai, United Arab Emirates, on November 30 - December 12, 2023.