The entire world is facing the issue of responsibility for environmental damage and of penalties, and with increasing frequency, stimulating measures are suggested
The question begs to be asked: who will foot the bill. And here the carbon border adjustment comes into action. Will the exporter country pay, or will the European Union pay, and the countries will have a choice: either each will institute its own carbon pricing or not. Otherwise, we are going to have two systems: a WTO-based one and an alternative one — Andrei Marcu, Founder, Executive Director, The European Roundtable on Climate Change and Sustainable Transition (ERCST).
The question therefore is not only who is going to pay, but also who is going to get paid, because indeed financial markets act far quicker. […] Every government, be it Europe or Russia, will naturally introduce regulations. Today, we broach with far greater frequency the punitive measures in the good sense of the word, such as fines, taxes, etc. But I believe we will also have to think hard about stimulating measures. […] We will need to introduce some financing programmes — Aleksey Matveev, Deputy Chairman of the Board, Gazprombank.
Market effectiveness that is not always perfect, as we all know, and legislative ineffectiveness is also something for us to think about — Andrei Marcu, Founder, Executive Director, The European Roundtable on Climate Change and Sustainable Transition (ERCST).
In the next 30 years, the Russian Federation should have lower emissions than the European Union, we know that already. We are working on it. […] As of today, Russia has cut the equivalent of 41 billion tons of CO2 emissions – this is the world’s highest figure if we take data by country — Ruslan Edelgeriyev, Advisor to the President of the Russian Federation; Special Presidential Representative on Climate Issues.
We will have a huge discussion on fairness and justice of the [payments] issue between various population groups: between manufacturers and consumers, building owners and residents. I think we have to focus on it more because failure to arrive at a solution will also affect Russia–EU relations — Markus Ederer, Ambassador of the European Union to the Russian Federation.