MOSCOW, July 15. /TASS/. Russia will work to promote a fair carbon trading system through the BRICS and Shanghai Cooperation Organization (SCO) platforms, the Russian President’s special envoy for relations with international organizations, Boris Titov, said during a business visit to Azerbaijan.
“The main task of the climate agenda is to establish a global market for trading carbon units. The global carbon market is a tool that can solve many problems associated with achieving carbon neutrality. The West has formed certain standards in this regard, but in the interests of a truly fair global exchange we need to come to standards that would cover a larger number of countries,” Titov said as quoted in a press release available to TASS.
The special envoy stressed that this topic needs to be “promoted more intensively within the framework of BRICS and the SCO.”
He proposed “forming a council for sustainable development within these organizations, especially since 2025 has just been declared by the SCO as the year of sustainable development.”
In this context, Titov drew attention to the fact that China already has a huge number of green funds, including those associated with Western investment companies.
“If they are involved in a single standardization, open borders, then this will be a huge contribution. In Russia, there is also a large group of interested companies and public institutions, there is an attempt to create a prototype of the market – there are green bonds, verifiers, validators, standards, emissions registers. The task is to integrate this experience into the international system,” the envoy said.
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