On the territory of the Russian Federation, nature-based climate projects can be implemented through various procedures provided by both national legislation and international agreements such as the Paris Agreement, or independent voluntary standards.
Classification of Climate Projects
Under national legislation, climate projects are categorized based on the results of their implementation:
- Reduction (prevention) of greenhouse gas emissions.
- Increase in the absorption of greenhouse gases.
- Simultaneous reduction (prevention) of greenhouse gas emissions and their absorption.
More details about these types can be read in the article linked.
Conditional Division into Nature-based and Technological Projects
Climate projects are conditionally divided into nature-based and technological. The criterion for this division is the object affected by the project:
- Nature-based climate projects: Interaction with natural objects, for example, reforestation or restoration of drained peatlands.
- Technological climate projects: Production processes such as the use of renewable energy sources and reducing the carbon intensity of production.
Examples of Nature-based Climate Projects
As of the creation of this material, 09.07.2024, three out of 28 registered projects in Russia can be attributed to nature-based climate projects:
- LLC “Vektra” (18-2024-00000018): Emission reduction – change in organic carbon stocks in the soil of arable lands of LLC “Helio-Pax-Agro”. Nature-based climate project from 01.01.2018 to 31.12.2022, planned to release 56,635 units.
- JSC “RUSAL Krasnoyarsk” (04-2023-00000012): Emission prevention – aerial protection against fires in the forest area of the Lower Yenisei forestry, Symskoye district forestry, Yartsevo village, Krasnoyarsk Territory, Russia. Nature-based climate project from 19.07.2019 to 19.10.2033, planned to release 5,152,843 units.
- LLC “Vanino Forestry Center” (64-2023-00000006): Greenhouse gas absorption – increase in greenhouse gas absorption through the implementation of a climate project in the Poronaysk forestry area of the Sakhalin region. Nature-based climate project from 01.09.2038 to 01.09.2102, planned to release 1,515,282 units.
Additional Value of Carbon Units from Nature-based climate projects
Currently, it is not possible to speak about the additional value of carbon units due to associated environmental and social effects. Only JSC “Rusal” has carbon units in circulation, but no transactions have been made. If carbon units are used within quotas, their value will not matter. If other initiatives for voluntary carbon footprint offsetting are created, then the associated social and environmental effects from these projects might be of interest to potential buyers.
