Sequestration Industry in the Climate Innovation Development Framework: A Cluster Approach

Sergey G. Tyaglov, Margarita A. Skvortsova, Tatyana V. Miroshnichenko and Pavel A. Degtyarev

Chapter 3 in Climate-Smart Innovation:Social Entrepreneurship and Sustainable Development in the Environmental Economy, 2023, pp 35-57 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The chapter focuses on the issues of the sequestration industry’s development. The authors consider the prerequisites for the formation of this industry within the framework of the international environmental and economic agenda, including the study of the impact of the carbon tax on the export policy of Russia and the EU member countries. The chapter proposes the fundamental mechanisms and tools to reduce the negative impact of carbon-intensive industries on environmental systems and the financial losses of market participants from the introduction of additional environmental taxes and fees. Based on the analysis of the best practices of foreign countries, the authors propose a concept for the formation and development of the sequestration industry in Russia, determine the timing of the implementation of the main activities, and indicate the economic effects of the introduction of new green approaches to the scientific and technical policy of Russia.

Keywords: Climate-smart Innovation; Social Entrepreneurship; Sustainable Development; Environmental Economy; Green Economy; Environmental Marketing; Green Entrepreneurship Practices; COVID-19; Regional Economy; Natural Territory (search for similar items in EconPapers)
JEL-codes: L26 L31 Q01 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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