Sequestration Industry in the Climate Innovation Development Framework: A Cluster Approach

The chapter focuses on the issues of the sequestration industry’s development. The authors consider the prerequisites for the formation of this industry within the framework of the international environmental and economic agenda, including the study of the impact of the carbon tax on the export policy of Russia and the EU member countries. The chapter proposes the fundamental mechanisms and tools to reduce the negative impact of carbon-intensive industries on environmental systems and the financial losses of market participants from the introduction of additional environmental taxes and fees. Based on the analysis of the best practices of foreign countries, the authors propose a concept for the formation and development of the sequestration industry in Russia, determine the timing of the implementation of the main activities, and indicate the economic effects of the introduction of new green approaches to the scientific and technical policy of Russia. © 2023 by World Scientific Publishing Co. Pte. Ltd. All rights reserved.