Russia does not have to cut emissions to satisfy Kyoto?s demands because it pollutes around a third less than its quota but companies like UES see the pact?s mechanisms as a handy way to raise cash. Plant modernization could help UES avoid power cuts such as one that blacked out much of Moscow last month.
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Russia's UES To Sign Kyoto Protocol
Russian power grid monopoly Unified Energy Systems signed Russia's first projects under the Kyoto Protocol
Russian power grid monopoly Unified Energy Systems signed Russia?s first projects under the Kyoto Protocol?s investment rules on Wednesday, in order to draw investments in Russian aging electricity sector.
The projects are themselves small as they will cost the Danish government 20 million euros ($24.25 million) for a yearly saving of 1.21 million tons of carbon dioxide, but are designed to show the potential of Russia for Kyoto investors.
Under the Protocol, which assigns countries with pollution quotas in a bid to stabilize levels of the gases that cause climate change, investors can cut emissions in another country and book the savings as their own. The so-called Joint Implementation (JI) clause is intended to allow emissions cuts to be as cheap as possible.
Russia does not have to cut emissions to satisfy Kyoto?s demands because it pollutes around a third less than its quota but companies like UES see the pact?s mechanisms as a handy way to raise cash. Plant modernization could help UES avoid power cuts such as one that blacked out much of Moscow last month.
Russia does not have to cut emissions to satisfy Kyoto?s demands because it pollutes around a third less than its quota but companies like UES see the pact?s mechanisms as a handy way to raise cash. Plant modernization could help UES avoid power cuts such as one that blacked out much of Moscow last month.
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