Kept and the St. Petersburg International Commodity Exchange (SPIMEX), Russia's largest commodity exchange, have entered into an agreement on cooperation in the development of the low-carbon goods market.
The low-carbon goods market in Russia is in a phase of active development, and methodological support is required for large-scale exchange trading. The agreement stipulates the creation of a valuation and verification system in accordance with standard, transparent criteria recognized by buyers and regulators in Russia and abroad.
Verification of the carbon footprint ensures independent assessment of compliance with the established criteria for quantification of GHG emissions and removals associated with the production and use of goods.
SPIMEX plans to enter the market of goods with a low carbon footprint, for example, “green” jet fuel, and some types of “green” metals. Kept specialists contribute to the creation of a market infrastructure for the development of “green” goods exchange trading.
The agreement also provides for a joint analysis of the climate agenda in Russia promotion, international experience in the operation of carbon markets, exchange trading in goods with a low or zero carbon footprint, exchange of data and experience, and joint events. The agreement entered into force on May 21, 2024 and will be valid for three years.
