MOSCOW, May 20 (RIA Novosti) - Foreign investors will help finance the technical modernization of Russian enterprises in order to reduce dangerous emissions.
In return, they will get greenhouse gases emission quotas in the amount by which their emission will reduce as a result of modernization.
This mechanism is stipulated in the documents on joint projects within the Kyoto protocol.
"We have prepared a concept of documents that should regulate the use of the mechanism stipulated in Article 6 of the Kyoto protocol in joint projects," said Vsevolod Gavrilov, deputy director for natural and property relations and the economy of nature use at the Economic Development Ministry.
He said that dozens of such projects are underway in Europe "between Old Europe and the new EU members." Foreign investors have expressed a desire to work under such projects in Russia, in particular in the cities that are carrying on energetic reforms of the housing and utilities sector and the thermal supply system (St. Petersburg, Arkhangelsk and Kaliningrad).
Lawyers are analyzing the possibility of regulating such projects by a government decision, said the official.
"We should determine if this can be done by a government decision or we need a special law to stipulate the procedure for the approval, registration and control of implementation of joint projects," Gavrilov said.
This analysis is crucial because the Kyoto protocol is a completely new legal document for Russia, which not just determines Russia's obligations but also allows selling emission quotas to other countries, the deputy director said. "We do not have international experience in this sphere."
Speaking about the experience of other countries, the ministry spokesman said many signatories of the protocol had introduced relevant legislation, including the EU.
The Economic Development Ministry plans to hold public debates of the concept by late June. The concept will be published on the ministry's web site and discussed at roundtables jointly with scientists and businessmen.
