Regulating ecosystem service ‘Regulation of greenhouse gas flows’: Current status and regulatory Promotion in Russia

Abstract

Ecosystem services are an integral part of a country's natural capital, and they require economic valuation. However, in Russia, there is no legislative methodological basis for the economic assessment of many ecosystem services in Russia, particularly the regulation of greenhouse gas flows. The Global climate change, the urgent need in transition to a low-carbon economy, the fall in global oil demand and the dissimilation of the alternative energy sources, the need to reduce the carbon footprint emphasize the strong demand for the creation of the system of payment for ecosystem services and considering service "regulation of greenhouse gas flows" as a category of marketable goods. "Low carbon" is a significant competitive advantage in the markets. The article considers the Russian experience of the ecosystem services of terrestrial ecosystems assessment snd provides an overview of crucial Russian regulations in the field of regulating greenhouse gas emissions. We established that the rhetoric of the key legislation items in the field of greenhouse gas regulation goes along with the world agenda. The main problem today is the need to launch an economic mechanism for regulating greenhouse gas emissions.