Russia agrees to Kyoto Protocol projects

Russia has agreed to 15 green projects in an attempt to earn credits under the Kyoto Protocol.

Yesterday (July 26th), a senior official with the Russian ministry of economy revealed that Russia has approved the clean energy initiatives, which has the potential to generate 30 million carbon offsets.

These projects were granted carbon finance by the Kyoto Protocol Joint Implementation, Point Carbon News reported Oleg Pluzhnikov as saying.

By committing itself to energy schemes, Russia is able to gain credits under the environmental legislation scheme that binds member states to green targets.

Chair of the UN's Joint Implementation Supervisory Committee Benoit Leguet said: "This is a major hurdle. The main obstacle so far has been approval by host countries."

Earlier this month, the Kyoto Protocol hit headlines after Reuters reported that uncertainty over the future of the pact could encourage organisations to put off environmental projects, if they are no longer obliged to meet targets after it comes to an end in 2012.

Posted by Lauren Steadman