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Russian Energy and Global Climate: Green Investment Strategies for Co-operation on Climate and Energy

The concept of a Green Investment Scheme (GIS) refers to ways of using revenues generated from trading Assigned Amount Units (AAUs), under Article 17 of the Kyoto Protocol, for environmentally-related purposes. A GIS may finance a range of activities: from capacity building in respect of developing appropriate statistical collection and reporting methods, to large scale emission reduction projects A GIS can include projects which are quantifiable - for which emission reductions can be estimated - or non-quantifiable.

Two approaches can be adopted for GIS projects: a program approach where a number of smaller projects are bundled together; and a project approach, where each project is treated individually. A programme approach would give priority to small and simple projects for which emission reductions are easy to monitor and verify such as: energy efficiency, fuel switching, renewable energy and improvement of gas and heat networks. A project approach would favour large (perhaps very large) projects which may be more complex to organise requiring longer time horizons.

FNI project leader: Arild Moe

Project period: 2001-2002


Moe, Arild, Kristian Tangen, Vladimir Berdin and Oleg Pluzhnikov, 'Emissions Trading and Green Investments in Russia'. Energy & Environment, Vol 14, No 6, 2003, pp. 841-858.

Tangen, Kristian, Anna Korppoo, Vladimir Berdin, Taishi Sugiyama, Christian Egenhofer, John Drexhage, Oleg Pluzhnikov, Michael Grubb, Thomas Legge, Arild Moe, Jonathan Stern and Kenichiro Yamaguchi, A Russian Green Investment Scheme - Securing environmental benefits from international emissions trading. Climate Strategies, 2002. 84 p.
 Related focal points of research:

   Arctic and Russia politics
   Climate change

Project funding:

   Various foreign sources through the Climate Strategies researcher network

 External cooperation partners:

   Imperial College London.
   Centre for Preparation and Implementation of International Projects on Technical Assistance/National Pollution Abatement Facility, Moscow.
   Central Research Institute of Electric Power Industry (CRIEPI), Japan.
   International Institute for Sustainable Development (IISD), Canada.
   Centre for European Policy Studies (CEPS), Brussels.
   Ministry of Energy of the Russian Federation.
   Royal Institute of International Affairs, London.
   Mitsubishi Research Institute Inc.

Fridtjof Nansen Institute
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