Modern Emissions Trading and Carbon Credits System

Abstract

This research focuses on an environmental regulatory tool known as the emissions trading system. Based on a review of emissions trading systems in the EU and China, it is demonstrated that this mechanism has seen tremendous progress in international practice in the past few decades. The emissions trading system serves a specific function within the scope of the EU border carbon adjustment mechanism, which impacts Russian enterprises that supply products to the EU. It should be noted that the ability of countries with varying levels of economic development to implement green strategies varies due to differences in the structure of their economies, and the establishment of foreign economic relations with regard to the climate agenda should be carried out with regard to objective economic goals.