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Europe’s Carbon Border Adjustment Mechanism: Prospects for Russian Suppliers, Russia’s Potential Response

Europe’s Carbon Border Adjustment Mechanism: Prospects for Russian Suppliers, Russia’s Potential Response

The European green policy is not only about some ideology but also about charging suppliers of goods for high carbon footprints.

The launch of the Carbon Border Adjustment Mechanism (CBAM) is nearing and getting more real.

In July 2021, the European Commission published framework conditions of the CBAM implementation. It poses a serious threat to Russian exports. The new carbon regulation will add serious extra costs to exports of Russian businesses to the EU.

Apart from prospects of paying extra fees, the CBAM has sharply intensified discussions in Russia about mechanisms of the climate regulation and policies in the field of carbon emissions that Russia should implement.

The new report elaborates on the following issues:

Main parameters of the CBAM

  • Reorganization of the Emissions Trading System
  • The CBAM launch schedule
  • The suggested carbon fee collection mechanism

Possible consequences of the CBAM for Russia

  • Initial estimations of potential losses
  • Main industries in the risk zone

Russia’s reaction to the CBAM

  • Formation of Russia’s negotiation position
  • Suggested variants of minimization of CBAM implications and feasibility of such measures

Potential beneficiaries of the CBAM in Russia

  • Formation of the carbon footprint reduction services sector in Russia
  • Utilizers, foresters and financiers

Main climate policy regulators in Russia

  • Key figures
  • Positions of relevant ministries and agencies

Formation of the regulatory framework of Russia’s new climate policy

  • The analysis of new decrees, laws and strategies
  • Creation of the system to monitor greenhouse gas emissions of enterprises

Prospects of introduction of carbon payments in Russia

  • A pilot project of a low-carbon cluster in the Sakhalin Region

Medium-term forecast of developments

Contents of the report:

The history of carbon border regulations/td> 5
Main parameters of CBAM 7
CBAM as instrument of discrimination 10
Consequences of CBAM for Russia 13
Formation of the legal framework of the new climate policy 18
Climate issues in Russia’s National Security Strategy 23
Development of CBAM response measures 25
Actions of Russian regulators in the CBAM context 27
Climate fighters 31
«Utilizers» 32
«Foresters» 34
«Financiers» 36
Date of release: November 8, 2021

If you are interested to obtain please contact » Elena Kim

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Analytical series “The Fuel and Energy Complex of Russia”:

Outlook for Russian LNG Industry
Russian Energy and West One Year after Ukraine Conflict Began: Are There Connections Still?
Green Agenda in Russia during Bitter Conflict with West
After February 2022 the agenda was radically rewritten. Western companies began leaving Russia en masse, economic relations with the West were drastically reduced, and the Russian economy began to be pushed violently from the global economic space, hemmed in by sweeping sanctions. All that was, to put it mildly, not the best background for talking about ESG. Especially because tasks of survival and stability under unprecedented pressure became the priority in the economy. In late 2022, however, attempts to reanimate the ESG agenda already became obvious. The message is put across insistently that it is important to Russia regardless of the foreign policy situation. While earlier the “green pivot” was seen as an opportunity to attract Western investors and their technological solutions to Russia, now Keynesian reliance on domestic manufacture is discussed.
Oil and Gas Sector Regulation in 2022 and Prospects for 2023
Gazprom at the Forefront of Economic and Political Battles with Europe
Gazprom is being actively thrown out of the market. Its annual supplies to Europe have shrunk from the previous 150 billion to 65 billion cubic metres of gas. European officials assure that they have already learnt how to live without Russian gas, so they will bring its purchases down to but nominal values in 2023. Their main hope is liquefied natural gas. Today the EU must make a crucial decision: whether it has passed the point of no return in gas business with Russia and whether it is certain that its economy will endure without supplies of Russian pipeline gas. Or, on the contrary, Europe will realise after all that the gas balance will not be achieved and the payment for so headlong a rush for LNG will be disproportionate. Assessment of the potential volume of LNG that will appear on the market before the end of the current decade will be the most important factor for making the decision.

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07

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