Russia completes 1st intl. sale of carbon units

Russia’s Gazprombank has executed its first international transaction involving Russian carbon units, transferring credits from a climate project by JSC Rusal Krasnoyarsk to the UAE’s Equity International General Trading investment fund.

The deal, announced at the BRICS Business Forum, marks a significant step in Russia’s efforts to develop a global carbon market.

The carbon units were issued from a climate project aimed at protecting forests from wildfires, highlighting Russia’s commitment to sustainable development.

Ekaterina Salugina-Sorokovaya, First Vice President of Gazprombank, stated that the successful sale showcases the readiness of the infrastructure of Russia’s Carbon Units Registry for international trade and the bank’s focus on building long-term partnerships in the climate sector.

Salem Humaid Saif Almzaini, Chairman of Equity International General Trading, described the deal as the first step towards integrating BRICS countries’ carbon markets, with potential plans for a joint carbon trading platform in Dubai.

Rusal’s Director of Sustainable Development, Elena Myakotnikova, emphasised that the transaction aligns with global trends towards carbon neutrality and reflects Russia’s capability in high-quality climate initiatives.