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PROMOTING RECYCLING, CLEANER PRODUCTION AND GREEN INVESTMENTS IN PETROCHEMICAL INDUSTRY
Abstract
In Russia, petroleum and petrochemical sectors are closely related: most leading hydrocarbon exploration companies own installations producing organic substances and polymers for the domestic and international markets. Recent transition of Russian economy to Best Available Techniques (BAT) in 2021 is followed by the regulation of greenhouse gases (GHG) emissions. Moreover, the sector experiences pressure due to the necessity to boost recycling of plastics and, in the near future, to reduce their production. According to the legislation, all projects aimed at the development of new and reconstruction of existing installations of the petrochemical and organic chemistry sectors have to undergo Environmental Impact Assessment Procedures. Environmental performance wise, framework conditions are set by the applicable Reference Documents on Best Available Techniques (BREF) similar but not identical to BREFs adopted in the European Union. Undeniably, all these projects need significant investments, while investors need clear criteria for selecting not only economically feasible but environmentally sound projects. In 2021, VEB.RF, the national development bank contributing towards the implementation of the Russian socio-economic, industries and environmental policies, began working out Taxonomy of Green Projects. Again, the Taxonomy is similar to the European one and it has the Pollution Prevention and Control principle in the nucleus of its industry-related projects. At the same time, to select potentially green projects, it is suggested to set a special criterion consisting of three sub-criteria. First, industrial projects have to be implemented in sectors regulated by BAT-based legislation. Second, their characteristics have to be better than those established by BAT-associated environmental performance levels (BAT-AE(P)L) described in applicable BREFs and BAT Conclusions (Orders of the Ministry for Natural Resources and Environment). Third, green projects have to provide for (a) reducing GHG emissions, or (b) complying with the requirements of international agreements, (c) forming cycles of materials and energy (industrial symbioses) typical for the circular economy. The article considers opportunities for promoting recycling, cleaner production and green investments in petrochemical industry using BAT-related approaches.
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