Moscow, 25 April 2005. Non-profit Investment Environmental Organization "Energy Carbon Fund"*, jointly with RAO "UES of Russia" and the World Wildlife Fund of Russia are holding on 26-27 April 2005 a Meeting/Seminar on the theme Use of Kyoto Protocol Mechanisms in the Electricity Industry.** The Meeting/Seminar will be attended by Yakov Urinson, Deputy Chairman of the Management Board, RAO "UES of Russia", Vyacheslav Sinyugin, member of Management Board, RAO "UES of Russia" and Chairman of Management Board, OAO "HydroWGC", Vsevolod Gavrilov, Deputy Director, Department of Property and Land Relations, Economy of Nature Management at the Ministry of Economic Development and Trade of Russia, Andrey Gorkov, Director General, Energy Carbon Fund, Aleksey Kokorin, Head of Climate Programme, WWF of Russia, representatives from state authorities, research institutions, environment protection organizations, foreign investors interested in joint projects, and overseas partners.
During the Meeting/Seminar, the participants will discuss the issues relating to practical application of the Kyoto Protocol mechanisms in the electricity industry.
In particular, they will hear reports on the 2005-2006 action plant of RAO "UES of Russia" Holding Company designed to ensure regulation and reduction of the greenhouse gas emissions. Besides, the Meeting will focus on the national system for assessing greenhouse gas emissions, including those by RAO "UES of Russia" and its subsidiaries and dependent companies, the quota trading mechanism, and the matters relating to government regulation of activities on the "carbon market".
In 1998, RAO UES enterprises started to assess greenhouse gas emissions in the electricity sector. By now, they have prepared a long-term evaluation of greenhouse gas emissions until the year 2015. According to this document, in 2010-2012, Russia's electricity industry may have a "surplus" of emissions rights up to 100m tonnes annually. Part of this "reserve" may, in certain circumstances, be sold on the international market, and the proceeds may be invested in energy efficient projects. In the next few years, RAO "UES of Russia" intends to carry out over 30 projects based on the mechanisms of the Kyoto Protocol.
* Non-profit Investment Environmental Organization "Energy Carbon Fund" was established by RAO "UES of Russia" in 2001 to create the infrastructure needed for the use of the Kyoto Protocol mechanisms.
**The Kyoto Protocol to the United Nations Framework Convention on Climate Change entered into force on 16 February 2005. This became possible after the Protocol was ratified by Russia, which accounts for 17.4% of the world's greenhouse gas emissions. The Protocol demands a 5.2% cut in greenhouse gas emissions by 2010-2012 compared to 1990.