This paper discusses the role of afforestation projects and other climate technologies in the green agenda for Russia and aims to justify the anchoring of jurisdictional carbon pricing in the cost approach to valuation, specifically, with reference to the cost economics for afforestation projects given their centrality to the agenda. Through that, and due to the inchoate state of carbon pricing in the study jurisdiction, this paper aims to advance price discovery for national carbon credits in both compliance and voluntary schemes. The cost approach framework, moderated by international market comparisons, indicates the fair price of carbon in Russian jurisdiction at the level of USD 20–25 per tonne of CO₂-eq, which is close to the global median but is more than double the amount of carbon levies set under the Sakhalin GHG quota experiment. It is argued that unless such a fair price for carbon is set in the country, the national carbon credits market will not achieve viable growth, nor will sustainable development be advanced, and funds for it be adequately collected. This represents a relevant contribution to the literature on the development of the national carbon credit markets.

ТЕОРЕТИЧЕСКИЕ ОСНОВЫ ЭКОНОМИЧЕСКИХ ИЗМЕРЕНИЙ СТОИМОСТИ В УСЛОВИЯХ ГЛОБАЛЬНЫХ ТЕХНОЛОГИЧЕСКИХ СДВИГОВ И КРИЗИСОВ. НОВЕЙШАЯ МЕТОДОЛОГИЧЕСКАЯ БАЗА (ЧАСТЬ 1)

The problems of measuring scientific and technical progress in the transition to the sixth technological mode have been considered. Nowadays scientific and technical progress is measured mainly by natural indicators. Forecasting requires a valuation of capital, taking into account fluctuations in the interest rate at the macro level; assessment of public production efficiency and new technologies. The applied methodology for such assessments has not yet been formulated. For these purposes, the methodology of the theory of economic measurements, which is also at the infancy stage and its latest concepts can serve. In relation to scientific and technical progress, the object of assessment may be the cost of capital and its depreciation in the final phase of the transition period, the effectiveness of scientific and technical progress and the money itself, considered as the main measure of value, and creating the effects of procyclical cost of capital in the conditions of technological shifts and crises.

The purpose of the study is to reveal the basic principles of the «green» economy and «green» transformation or energy transition with reference to the ongoing change in technological structures in the context of the climate agenda and decarbonization. The result of the work carried out was the substantiation of the thesis that the theory of climate change is a tool for stimulating business to modernize production, develop and use new technologies on qualitatively new types of energy carriers and is aimed at generating financial sources for the energy transition. The reason for the policy of abandoning traditional fuels promoted by Western countries, despite their high efficiency, is increased attention to the environmental factor and the transition to a new technological structure. It is shown that «green» transformation requires significant costs and is unprofitable for countries with large reserves of hydrocarbon raw materials, which dominate the consumption structure. Such countries should be prudent in the use of non-traditional energy sources so as not to reduce the efficiency of the economy. The institutional tools for decarbonization of economic development are considered. The issues of forming sources of financing for technological modernization activities have been studied.

The purpose of the study is to review available economic methods for the incorporation of urban green belts and water spaces into the city development control system. The paper aims to identify economic subjects of analysis, provide a definition of approaches, and methods for ensuring the rendering of decisions in a monetized form, and outline the main directions of work for creating the legal and methodological frameworks for the formation of urban green belts. The findings indicate that the valuation treatment of urban green water belts requires them to be split into tangible and intangible asset components, with the valuation of the former amenable under the cost approach, and the valuation of the latter requiring the application of sociological (contingent) and regression-based valuation methods. We conclude with suggestions on how valuation estimates obtainable for such assets can be used in the context of urban zoning and financial municipal administration decisions.

The methodology of economic valuation of ecosystem services of the marine environment has been considered, which implies identification and valuation of the benefits obtained by humans from using marine ecosystems. It has been found that the previous research disregarded and did not assess the assimilation potential of port water areas, which consists in the absorption and dispersion of pollution that arise in the course of port activities. A methodological approach has been proposed for its assessment as well as an algorithm for calculating the rent-based assimilation potential by the amount of saving of expenses of economic entities that they do not pay to compensate for the damage caused or do not invest in its reduction and prevention, that is, by the amount of environmental damage caused by sea-going ships and port activities. The cost of the assimilation potential for the largest ports of Russia, the European Union (EU) and China has been calculated based on the monetized metrics of environmental damage applied in the EU countries and the indicator of pollutant emissions per 1 million tons of cargo transshipments carried out in ports, as well as the costs of cleaning polluted water discharged by ships. The latter value has been calculated only for the ports of Russia.