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Medvedev orders government to expedite Kyoto emission reduction projects

On Monday 27 June 2011 during the meeting of commission on modernization and technological development of the economy, dedicated to the environmental aspects, the Russian President Dmitry Medvedev ordered the government to finalize within two weeks a governmental resolution on approval of greenhouse gas reduction projects in Russia in order to simplify and speed up the approval process of joint implementation projects.

 

 A proposed government regulation is expected to consolidate the status of the Sberbank as a third party on all carbon transactions and a provision that all such transactions will be under the Russian law. In addition, approval and realization of programmatic JI mechanism will be described in this document. A proposed government regulation “will oblige all companies that have got this money to re-invest in new projects to reduce emissions,” said German Gref, chief executive officer of Sberbank.

 

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