This law defines the basis for the legal regulation of relations in the field of economic and other activities that are accompanied by greenhouse gas emissions and are carried out in Russia. The purpose of this Federal Law is to create conditions for sustainable and balanced development of Russia while reducing the level of greenhouse gas emissions.

The document notably sets the legal framework for 1) mandatory carbon reporting that is due to start in 2023 for the most polluting companies and 2) carbon offsetting schemes.