Innovative Approach of Carbon Offset Projects to the Low-carbon Transition: Case of the Recycling Industry in Russia

This article examines the global problem of climate change and the creation of a carbon market in Russia in the context of the active application of innovative approaches to decarbonization, paying special attention to projects to compensate for carbon emissions in the Russian waste recycling industry. Despite the fact that the waste recycling sector is underrepresented in scientific papers related to the decarbonization of the country's economy, it has great potential to reduce emissions of carbon dioxide and other greenhouse gases and facilitate the transition to a low-carbon economy. The study examines Russia's decarbonization efforts in the context of rapid economic growth and increased waste generation, and highlights the need to transition to a closed-loop economy in order to minimize waste generation and reduce dependence on fossil raw materials. Carbon offset projects, also known as climate projects, are identified as key initiatives aimed at reducing emissions and contributing to the achievement of national climate goals, taking into account national security interests. However, the waste recycling industry faces significant obstacles to the successful implementation of climate projects, including regulatory constraints, insufficient awareness, inadequate financial incentives, technological barriers and insufficient cooperation with stakeholders. This document contains a comprehensive analysis of the viability and potential of climate waste recycling projects in Russia, based on survey data and interviews with experts. The survey and interviews with experts show the importance that companies attach to reducing their carbon footprint and the widespread recognition of the need for government support to stimulate the growth of climate waste recycling projects in the industry. However, problems related to monetization, risk management and technical barriers are also considered serious obstacles that need to be addressed. To solve these problems, targeted actions and joint efforts of politicians, industry stakeholders and researchers are needed to implement promising climate waste recycling projects that contribute to both environmental sustainability and economic growth in the region.