Russian carbon market: legal framework, problems of development and digitalization

Russia enforces climate legislation, which stipulates the emission and circulation of carbon units. This is a new economic instrument that is subject to circulation in the market and in the future can be “digitized”. This study evaluates the results of the application of this innovation, considers the prospects of digitalization of the carbon sphere in order to improve legal regulation. It is established that the emission of a significant amount of carbon units has taken place, but the market of carbon units, in particular, organized, has not formed, which does not allow to effectively use the potential of this market instrument. It is concluded that this result is due to the postponement of the introduction of restrictions on carbon emissions, and, as a consequence, low demand for carbon units. New amendments to tax and climate legislation, aimed at stimulating the market for carbon units, will not affect the situation. Facts of digitalization of the results of unregistered climate projects have been established. Taking into account foreign experience, it was concluded that in the absence of legal regulation, such activities are fraught with technological, economic and legal problems. The directions of improvement of the current legislation are outlined, which require the definition of civil legal characteristics of carbon units, as well as other results of the implementation of climate projects.