The second meeting of the European Green Deal/Ukraine’s Green Transition Dialogue took place in Kyiv. It was co-chaired by Ukraine’s DPM for European and Euro-Atlantic integration Olga Stefanishyna and Deputy Director General NEAR and Head of the Support Group for Ukraine (SGUA) Katarína Mathernová.
Sergiy Maslichenko participated in this dialogue to advise on the scale-up and better coordination of green financing in Ukraine. Ukraine has declared its ambition to approximate its policies and legislation with the European Green Deal, committed to carbon neutrality by 2060 and set an ambitious emission reduction target by 2030 in the updated NDC. There is also ongoing discussion and preparation of the Ukraine Green Deal – a vision which will set directions for Ukraine’s green transition and related sectoral strategies and policies.
These goals will require significant financing across all economic sectors estimated in the updated NDC at the level of EUR 100 billion by 2030.
Today, Ukrainian business is already heavily investing in its own modernisation, many projects are financed by IFIs, commercial banks and donors. But much more is needed. Therefore, it was agreed to create a Platform on Sustainable Finance for Green Transition which will act as a forum for facilitating exchanges and coordinating efforts among the Governmental authorities, IFIs, donors, businesses in the area of green financing in Ukraine
Platform on Sustainable Finance for Green Transition will aim to:
- While respecting each party context, set up priorities, align initiatives and approaches by key stakeholders (Government, EC, IFIs, business), and link sources of funding with the financing needs for Ukraine’s green transition;
- Enhance coordination with the Government and between stakeholders on sustainable finance;
- Exchange and spread information to promote best practices in sustainable finance;
- Compare the different initiatives and identify barriers and opportunities for financing Ukraine’s transition to low carbon economy.
