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Prospects for Creating BRICS Carbon Trading Market

Author

Listed:
  • 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)

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.

Suggested Citation

  • Diana Eduardovna KUCHEROVA & Maria Georgievna GIRICH & Antonina Davidovna LEVASHENKO, 2024. "Prospects for Creating BRICS Carbon Trading Market," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 9, pages 60-76, September.
    • Handle: RePEc:alq:rufejo:rfej_2024_09_60-76
    DOI: 10.24412/2072-8042-2024-9-60-76
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    More about this item

    Keywords

    BRICS; carbon market; carbon offsets; carbon credits; climate project; emission quotas; carbon project validation; carbon credit certifi cation;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General

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