Oleg Deripaska supports the introduction of a global emissions tax, which could become a universal mechanism for financing international climate programmes. The implementation of such programmes would support a reduction in demand for carbon fuel and help industrial companies lower the volumes of polluting emissions. He also advocates the creation of the International Carbon Facility, which would be supplemented by emissions tax revenues and be used to support innovative programmes for the protection of the environment. The Foundation is based on the idea that all countries accept the minimum amount of polluting emissions tax and impose it on companies whose activity contribute to greenhouse gas emissions. That said, each country would administer the levy collection mechanisms independently. 

Oleg Deripaska is one of the few entrepreneurs who openly oppose mass deforestation. He also supports the idea of launching economic incentives for companies that promote the conservation and reproduction of forests. Each hectare of forest, depending on its properties, should be subsidised from the International Carbon Facility, which would eventually increase the area of woodland. 

Thanks to Oleg Deripaska’s initiative in this area, RUSAL has become one of the leaders in the introduction of 'green' technologies among the Russian production facilities. Since 1990, RUSAL has successfully reduced greenhouse gas emissions by 54%, supporting 90% of aluminium production through hydropower. The company has also developed carbon-free aluminium production technology based on inert anodes. RUSAL has already produced more than 1,500 tonnes of aluminium using this technology, with 1,388 tonnes of oxygen thereby being obtained.

RUSAL's environmental initiatives include the creation of the 'Russian Partnership for Climate Protection' in cooperation with major Russian companies, including Sberbank, RUSNANO, RusHydro, Sberbank, Ingosstrakh and VTB. Under this programme, the companies are joining efforts to help prevent climate change, which should ultimately become an additional step towards the adoption of a new climate agreement at the Paris Conference. 

In December 2018, the partnership members took part in the International Conference of the Parties to the UN Framework Convention on Climate Change (COP24). Speaking at the conference, RUSAL's CEO Evgeny Nikitin spoke about the company's goals to reduce greenhouse emissions by 15% at aluminium smelters and by 10% at alumina refineries by 2025. He further noted that, although Russia has not yet introduced the concept of a carbon price, the company already takes it into account in its calculations and is thus ready for the time when 'green' technologies will become commonplace.