International Council for Capital Formation
January 30, 2004
By Andrei Illarionov
"I do see clear losses if Russia did ratify," Dr. Andrei
Illarionov, Pres. Vladimir Putin's chief economic adviser, said
at an ICCF forum on January 30, 2004 at the National Press Club
in Washington D.C.
During his remarks, Dr. Illarionov addressed the misconception
that ratification suits Russia because the country would be a net
seller of emissions credits.
"Simply not true," Dr. Illarionov said, explaining that
given Russia's recent history (6.5% annual economic growth over
the last five years), the country would be a seller of credits for
just a short time. Russia would become a buyer of credits shortly
after entering the Protocol's 2nd commitment period. The second
commitment period requires Russia to reduce its emissions by 58%
by 2050, roughly 3% a year.
Russia would have an economy the size of Estonia," Dr. Illarionov
the Full Presentation (PPT)
Andrei Illarionov's more recent presentation from October 1, 2004 (PPT)