Russian Minister of Economy stresses the importance of an impartial carbon footprint calculation – Business & Economy
MOSCOW, August 24. / TASS /. The carbon footprint of Russian companies must be calculated impartially when determining the value of the carbon tax in order to avoid unjustified advantages to manufacturers in the European Union or other countries, said the Minister of Development economic Maxim Reshetnikov at TASS in the interview.
“In recent years, many companies have improved their production and the carbon footprint of Russian companies is competitive. It is crucial to ensure that it is calculated impartially and that manufacturers in the EU or other countries do not receive unfounded advantages. CBAM [Carbon Border Adjustment Mechanism — TASS] project offers no answer to the questions of which projects companies will be able to count and which means of interaction for third countries [our] European partners can offer, ”Reshetnikov said.
“If the real objective of the CBAM is not the creation of new trade barriers, but rather the fight against climate change, then the reduction in carbon per dollar invested should be the main parameter. In this regard, it is important that Russia has a mechanism that will allow companies to use the money to reduce carbon emissions inside the country. This will be the most effective solution in the fight against climate change and also for the global agenda ”, noted the Minister.
The mechanism is designed in such a way that it ties the carbon tax to the actual carbon intensity of the product in question, Reshetnikov said. “The higher the carbon dioxide emission of the industrial facility that manufactured a certain product, the more the importer will have to pay. The tax will vary from company to company, and even from facility, respectively. industrial plant to an industrial facility, even if two companies supply equal quantities of goods to the EU, ”he added.
The full text of the interview is available on the TASS website.