Russia Has No Plans to Introduce Carbon Tax to Achieve Net Zero Emissions - Official

MOSCOW (Pakistan Point News / Sputnik - 09th July, 2021) Russia does not plan to introduce a tax on greenhouse gas emissions to fulfill its commitment to achieve carbon neutrality, Deputy Finance Minister Alexey Sazanov said on Friday.

"We are not planning to introduce new taxes. The point is that, of course, there are importer countries and exporter countries. And while absolutely recognizing the goal of moving towards a green economy and carbon neutrality, we have completely different paths. Because, after all, Russia is a country that is rich in natural resources, we have cheap energy sources," Sazanov said at an annual oil summit.

Importer countries opt for increasing the fiscal burden to regulate greenhouse gas emissions because they do not have alternative energy resources for achieving carbon neutrality, the deputy minister noted.

The official believes that Russia's goal is to show that there are different ways of achieving net zero emissions, including planting forests.

Russia has committed to curbing greenhouse gas emissions under the 2015 Paris Agreement. On July 2, President Vladimir Putin signed the country's first law on the matter, regulating such aspects as the target levels of emission cuts, verification tools, and incentives for green projects.