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Nurgul Aitbaeva, Deputy Director of the Eurasian Economic Commission's Trade Policy Department, took part in the “BRICS Climate Agenda in Modern Conditions” forum, where she reported on the potential contribution of the voluntary carbon market to achieving the Paris Agreement objectives and the need to create favourable conditions for the transboundary use of carbon units.

“Unequal and non-transparent conditions of the voluntary market will fail to attract bona fide participants and will offset the multiplier effect of cooperation to reduce emissions,” she emphasized, speaking during the session “Potential and Opportunities of the BRICS Common Voluntary Carbon Market”.

It was also noted that developing clear-cut and easy-to-understand rules of the voluntary market, including the development of project methodologies, international and regional standards, can help stabilize the carbon price.

Nurgul Aitbaeva paid a special focus on implementing the climate agenda in the Eurasian Economic Union. The relevant work is based on the instruction of the Heads of Government of the EAEU countries dated June 4, 2024. The document defines five priority areas of activity: creating conditions for implementing cooperative low-carbon projects, including through the development of interstate standards; forming coordinated approaches to the accreditation of validation and verification bodies in the field of carbon regulation; generating proposals on tariff-fiscal incentive measures; preparing proposals to prevent trade and economic barriers caused by national climate regulation; and developing proposals to converge the EAEU Member States' positions as part of climate change adaptation.