The government approved the rules for maintaining the register of carbon units

From September 1, 2022, the Decree of the Government of the Russian Federation on the approval of the Rules for the creation and maintenance of the register of carbon units, as well as the conduct of transactions with carbon units in the register of carbon units, will come into force. It was approved in accordance with the Federal Law "On the Limitation of Greenhouse Gas Emissions".

This resolution determines the procedure for entering information into the register - an information system in which climate projects are registered and accounting for carbon units and operations with carbon units is kept.

According to the document, the following information about the climate project is indicated in the register:

• climate project executor and its participants (including investors)
• individual climate project number
• name and place of implementation
• start date and implementation timeframe
• information about the goals, objectives, category and industry of the project
• list of activity objects, the operation of which is accompanied by greenhouse gas emissions and their absorption
• a method for quantifying the reduction of greenhouse gas emissions and an increase in their absorption and information on the planned reduction value, etc.

When registering in the register, climate projects are assigned an individual number consisting of the subject code, the year the number was assigned, and the serial number of the climate project within the Russian Federation.

After that, on the basis of the agreement, an account is opened in the registry, which provides for such operations as crediting, debiting, offsetting carbon units, as well as crediting carbon units when they are released into circulation as a result of the implementation of the climate project. Carbon units are released into circulation based on the application of the contractor climate project.

The basis for closing the account is the termination of the contract. In this case, the carbon units in the registry are canceled and credited to the withdrawal account.

The full text of the Decree can be read here