Abstract

Today, the greenhouse gas emissions trading system is seen as one of the most promising ways to combat climate problems. Nevertheless, the regulatory function of this mechanism is not as straightforward as it may initially seem. The creation, operation, and dissemination of such a system at the global level face many obstacles. Climate projects can be used as an additional tool to reduce emissions and achieve decarbonisation by preventing the generation or absorption of greenhouse gases from the atmosphere. The features of global carbon markets have been uncovered and opportunities for their functioning have been shown. The greenhouse gas emissions trading system is seen as a promising tool in the fight against climate change. However, the regulatory role of this mechanism is not as unambiguous as it is presented by international organizations, and there are many obstacles to its creation, operation and dissemination on a global scale. Russia needs to develop its own forest-climatic standards, as there are different climatic conditions for different forest types on its area. Forest-climatic projects have enormous potential to solve the problem of increasing greenhouse gas absorption and could become a key tool for decarbonization in Russia, as well as provide monetization opportunities for businesses. Three types of projects can be implemented in Russia: voluntary forest conservation by tenants, sustainable forest management, and protective afforestation programmes.

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