The authors study the current problems of formalizing the mechanisms of nature management. A key issue is the development of the system of sustainable development indicators. This problem is recognized as relevant both internationally and nationally. The special attention is paid to the problem of taking into account the territorial specifics in the formalization of mechanisms for environmental and economic regulation. The indicators of sustainable development should, on the one hand, be comparable for different territories (but close in nature and climatic characteristics), and on the other hand, take into account the territorial specifics. Among the elements of the formalization of mechanisms for environmental and economic regulation, the authors identify the economic capacity of the territory and the "feedback" effect between the natural complexes and the socioeconomic system of the territory. The effect of this feedback is suggested by the authors to be called 'ecosystem reflection'. Ecosystemic reflection characterizes a complex of negative (depressing) and positive (stimulating) effects, manifested in the mechanism and socioeconomic parameters of the ecosystem response to anthropogenic impact. The authors' research is based on historical experience, both large-scale precedents and local manifestations of ecosystem reflection. As a large-scale example, the authors give an analysis of the socioeconomic consequences of plowing steppe ecosystems (High Plains, USA). The results of this analysis show the mechanisms of ecosystem reflection and the characteristics of the economic capacity of the territory. As a local example, the authors give an analysis of changes in the high-mountain ecosystem (Kosh-Agachsky District, Altai Republic, Russia). These changes were caused by deforestation. As a result of anthropogenic impact, the natural and climatic conditions have changed. This led, respectively, to changes in the system and nature of environmental management. The authors propose a set of indicators for sustainable development as a tool for environmental and economic regulation. The authors use elements of matrix analysis to formalize separate mechanisms for regulating environmental and economic activity in the studied area.

This study examines the usefulness of forest climate projects as a vehicle for investment in the domestic carbon market. The main objective is to identify the prerequisites for establishing a Russian carbon market, which would set the stage for sustainable reduction of greenhouse gas emissions. The article begins by analyzing the global climate agenda in detail, highlighting the functions and significance of forest climate projects in regulated carbon markets, and describing the market dynamics for carbon units. Since 2021 the Paris Agreement’s provisions have been implemented, the EU Green Deal has been initiated, forestry and land use regulation have became part of the EU emissions trading system, and the CORSIA compensation mechanism for emissions from international air travel has been launched. The article assesses the potential for a Russian carbon market in forestry units. The Siberian regions and Far Eastern federal districts offer the greatest opportunity for carrying out forest climate projects. That opportunity depends upon improving crucial components of forest management in Russia’s state forest holdings in order to increase the carbon stock and reduce greenhouse gas emissions; this would entail reforestation of clearcut areas (with additional measures that enhance carbon storage and prevent emissions from unfavorable factors) as well as planting new forests. The article then elaborates a method for estimating and developing the carbon market potential of forestry units in Russia in order to evaluate the prospects for implementing such projects (a carbon budget). A calculator for carbon credits has been prepared for use by potential Far East investors, and services are available for them to select a forest site via online auctions and execute transactions online.

The UN Paris Climate Agreement requires unprecedented efforts to prevent global warming above 1,5-2°C. Despite geopolitical, economic and other disruptions, cooperation in climate sphere is one of the key directions of international interaction among the world leading economies. Many countries adopted decarbonization strategies and carbon neutrality targets by 2050-2070. The economic analysis the decarbonization scenarios showed that zero-carbon technologies in energy, industries and other sectors can play a crucial role in reduction of carbon emissions worldwide. Achievement of Paris Agreement goals can be more efficient if the mechanisms of international climate cooperation, carbon pricing and regulation would be broadly applied.

The implementation of the Paris Climate Agreement, ratified by 184 countries, requires the formation of economic mechanisms related to the regulation of greenhouse gas emissions. The Russian Federation is also planning to ratify the Paris Agreement, which will require the creation of adequate economic and legal instruments. The article discusses the economic mechanism that allows domestic producers to offset greenhouse gas emissions from forest takeovers and transfer the absorbed tons from the Russian forest sector to other sectors of the economy, which will increase the competitiveness of domestic producers on the world market and leave funds domestically. This creates an opportunity to increase expenses for the rational use and preservation of the national ecosystem.

The problem of climate change is a global challenge of the XXI century for all mankind. However, despite the adoption of the Paris climate agreement, which is designed to synchronize the actions of various countries, individual countries or groups of countries are taking the path of obtaining unilateral preferences under the pretext of fulfilling the obligations stipulated in the agreement. The article analyzes the challenges and risks that Russia may face in the absence of its own greenhouse gas regulation systems against the background of the declared and implemented in a number of countries policy of achieving zero greenhouse gas emissions. Ways to fully utilize the potential absorption capacity of Russian forests and other ecosystems in relation to the goals of the Paris climate agreement are considered. We are talking about potential effects for the Russian economy in the form of domestic investment in forest projects to absorb CO2, while increasing the competitiveness of Russian export products in the context of the introduction of protectionist measures by individual countries under the pretext of fighting for “climate neutrality”.