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LEGAL MECHANISM OF KYOTO PROTOCOL REALIZATION TO BE APPROVED WITHIN SIX MONTHS?

MOSCOW, March 10 (RIA Novosti) - Within 3 to 6 months Russia may approve the entire legal base for realization of the Kyoto Protocol, RIA Novosti quotes vice-president of the Carbonic Fund Yekaterina Runova of Russia's UES (United Energy Systems) foreign relations board as saying on Thursday.

"Hopefully, within 3 to 6 months the entire mechanism, legal base linked to the realization of the Kyoto Protocol will be approved in Russia", Mrs. Runova said.

According to her, Russia may reserve up to 50 percent of the world's carbon dioxide emission quota.

"I hope that the draft law fixing the basic principles of ecology payments on the basis of compensations will be adopted by July 4", Mrs. Runova stressed. The UES may cut noxious emission "by 50 million tonnes of carbon dioxide".

The Carbonic Fund is UES's subsidiary. Mrs. Yekaterina Runova represents the UES interests in the E-7 international authority, founded in 1991 and uniting the biggest energy companies in the G7 countries. Members of the E-7 are their presidents or chairmen of the board. The E-7 forum is made up of nine biggest electric energy companies from seven member countries of the G7 (Great Britain, Germany, Italy, Canada, France, the United States, Japan). They are - EDF (France), Enel (Italy), RWE (Germany), Scottish Power (UK), Hydro-Quebec (Canada), Ontario Power Generation (Canada), American Electric Power (the United States), TEPCO (Japan), KANSAI (Japan).

E-7 membership is invited. Alongside membership, partnership exists. Companies from across the world can be invited as partners but their number is limited to two biggest companies from one country.

The basic goals set by the E-7 Forum to its members is the elaboration of a common policy of sustainable electric power development, organization of large-scale debate on environmental management, globalization, social policy, exchange of experience in the production and use of electric energy, development of electric power markets, help to developing countries.

In 2004 the UES concluded an agreement with the E-7 on associated partnership, entitling the UES to participate in E-7 work up to Russia's becoming a permanent member of the G7. After that, the UES can become a permanent member of the E-7.