Issuing carbon units

Issuing carbon units

The issuance of carbon units is carried out by the carbon unit registry operator, whose functions, according to the Order of the Government of the Russian Federation dated March 01, 2022, No. 367-r, are entrusted to the Joint Stock Company “Contour.”

The procedure for issuing carbon units is provided for in the Rules for the creation and maintenance of the carbon unit registry, as well as for conducting operations with carbon units in the carbon unit registry, approved by the Resolution of the Government of the Russian Federation dated April 30, 2022, No. 790.

According to the aforementioned Rules, the following procedure is followed for issuing carbon units:

  1. The executor of the climate project prepares an application for the issuance of carbon units with an attached report on the implementation of the climate project. The report must be verified and contain a positive conclusion. The documents are signed by the head of the climate project executor or another authorized person using an enhanced qualified electronic signature and are sent to the operator using the federal state information system “Unified Portal of State and Municipal Services (Functions).”
  2. Within 5 business days from the date of receiving the application for the issuance of carbon units and the accompanying documents, the operator makes one of the following decisions:
    • If the submitted documents meet the criteria of completeness and correctness, comply with the conditions of the standard agreement concluded with the executor, do not contradict the legislation of the Russian Federation, then within 5 business days from the completion of the verification of these documents, the operator notifies the applicant of the issuance of carbon units.
    • In other cases, the operator refuses to issue carbon units, informing the executor of the climate project by sending a reasoned notification within 5 business days from the completion of the verification of the submitted documents.
  3. After receiving the notification of the issuance of carbon units, the executor of the climate project sends to the operator an order for the crediting of carbon units to their account in the registry, certified by an enhanced qualified electronic signature.
  4. No later than the day following the receipt of the climate project executor’s order, the operator makes a corresponding entry in the registry account. From this moment, the carbon units are considered issued into circulation. Each unit is assigned a unique unchanged number as indicated in the verified report on the implementation of the climate project.
  5. Within 5 business days from the date of crediting the carbon units to the account, the registry operator notifies the executor of the climate project by sending a report on the account.

The fee for issuing carbon units is determined by the registry operator within the limits set by the Resolution of the Government of the Russian Federation dated March 30, 2022, No. 518. Current rates are available on the official website at the provided link.