Putin: Russias market for carbon emissions quotas is estimated at $50...

Putin: Russia's market for carbon emissions quotas is estimated at $50 billion

Putin: Russia's market for carbon emissions quotas is estimated at $50 billion


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Russian President Vladimir Putin announced that the Russian market for trading carbon emissions quotas is estimated at $50 billion, and that Russia has competitive advantages in this field.

Speaking at the 30th Congress of the Russian Federation of Industrialists and Employers, Putin said that “the Russian market for carbon quotas is estimated at about 50 billion dollars, and here is what can be worked on and thought about, knowing that we have serious competitive advantages in this field.”

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He continued, “We must strive to ensure that fair and justified decisions are taken in the international arena, that make decisions regarding the movement of goods across borders far from unfair competition. We will work on this, and we have many supporters in the World Trade Organization and outside.”

Putin noted that among Russias competitive advantages in the climate field are hydropower and atomic energy, in addition to forests.

He stressed that Russias achievement of carbon neutrality by 2060 is realistic, and this provides additional opportunities for the business community.

Source: TASS

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