Prospects for Creating BRICS Carbon Trading Market

Diana Eduardovna Kucherova, Maria Georgievna Girich and Antonina Davidovna Levashenko
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Diana Eduardovna Kucherova: Russian Foreign Trade Academy, Moscow, Russia
Maria Georgievna Girich: Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia
Antonina Davidovna Levashenko: Russian Foreign Trade Academy, Moscow, Russia

Russian Foreign Economic Journal, 2024, issue 9, 60-76

Abstract: The development of carbon emissions trading allows to fulfill climate commitments not only for companies (under carbon taxation), but also for governments to achieve climate goals under the UN Framework Convention on Climate Change. The article considers approaches of the BRICS countries to the emission of carbon off sets, including barriers that affect cross-border trade- different approaches to the validation of climate projects and verification of carbon off sets. The authors propose options for aligning the rules of issuing and trading carbon off sets in the BRICS carbon market, including mechanisms for mutual recognition of carbon off sets, which would help attract investors to the carbon market and more effectively achieve national emission reduction targets.

Keywords: BRICS; carbon market; carbon offsets; carbon credits; climate project; emission quotas; carbon project validation; carbon credit certifi cation (search for similar items in EconPapers)
JEL-codes: F10 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2024_09_60-76

DOI: 10.24412/2072-8042-2024-9-60-76

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