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Joint Implementation
Predicted to Have Significant Economic and Environmental
Impact
LONDON, UK, 20 October 2004 – On
30 September 2004, the Russian Cabinet submitted the Kyoto
Protocol to the Russian Parliament (Duma) for ratification.
The expectation is that Russia will officially ratify the
Protocol in advance of the COP-10 meeting in Buenos Aires,
Argentina, in early December 2004. After Russia’s ratification,
the Protocol will enter into force. For seven years the Protocol
has failed to secure 55 percent participation from developed
countries; therefore, with the U.S.
decision not to ratify,
the minimum participation level could only be reached with
Russian ratification.
"Our analysis finds that Russia’s decision
to join the efforts of the international community to mitigate
global warming and limit associated adverse impacts will
unleash substantial economic benefits," says Dr. Alexei
Sankovski, an ICF Consulting manager who leads the firm’s
climate change
services in Russia. ICF Consulting’s
assessment of market dynamics in Russia’s oil and gas,
coal mining, power generation, and metallurgy sectors indicates
that investments will lead to substantial reductions of greenhouse
gas (GHG) emissions. "We estimate there will be 350
million metric tonnes of carbon dioxide equivalent (CO2e)
credits per year within these and other energy- and carbon-intensive
sectors in Russia―potentially worth billions of dollars,"
says Dr. Sankovski.
"In order to attract international investments in
greenhouse gas abatement projects, Russia needs to establish
a Kyoto-compatible national GHG inventory system; GHG registry;
and nationwide infrastructure to stimulate, approve, and
support joint implementation and ‘green investment’ projects,"
says Dr. Olga Varlamova, Director of ICF Consulting’s
Moscow Office.
ICF Consulting’s staff and a team of in-country experts
are assisting Ukraine and Belarus with a three-year project
to develop capacity requirements implementation of the Protocol
to maximize economic opportunities. "Our early experience
from this innovative project suggests that Russia will benefit
both economically and environmentally from playing an active
role in the implementation of the Kyoto Protocol," says
Dr. Varlamova.
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ICF International (Nasdaq: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, environment, transportation, social programs, defense, and homeland security markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 1,800 employees serve these clients worldwide. ICF’s Web site is http://www.icfi.com.
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For Immediate Release
United Kingdom Contact: Abyd
Karmali
Tel: 44 (0) 20.7092.3005
United States Contact: Douglas
Beck
Tel: 1.703.934.3820
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