The State Agency on Energy Efficiency and EBRD discussed prospects for cooperation in the development of the green bonds market

Acting Chairman of the State Agency on Energy Efficiency Committee Kostiantyn Hura held an online meeting with Deputy Chairman of the EBRD in Ukraine Iryna Kravchenko and discussed the prospects for cooperation in the development of the green bond market in Ukraine, the press service reports.

Kostiantyn Hura told in detail about the initiative of the State Agency on Energy Efficiency, which began several years ago, on the introduction of a market for green bonds, and the significant legislative work carried out jointly with central government bodies and international partners. It resulted in the relevant law adopted and signed by the President of Ukraine, which entered into force on July 1, 2021. This means that green bonds have gained legal force in Ukraine.

“On July 1, the Law came into force, which introduces green bonds and establishes rules for market participants. Now, together with the Ministry of Ecology and other interested parties, we are working on secondary legislation, namely, on the procedure for selecting environmental projects that are financed from the state and local budgets,” Kostiantyn Hura said.

Also, the State Energy Efficiency has developed a Concept for the introduction and development of the market for "green" bonds, which has already passed the approval procedure with all interested public authorities and is ready for re-introduction by the government.

The State Agency on Energy Efficiency is also considering the possibility of implementing several pilot projects to issue green bonds with the support of international development banks.

“Today we started work on the selection of potential green projects that could receive funding through the issuance of green bonds. Municipalities have projects in the areas of alternative energy, water supply, wastewater treatment and energy waste disposal. The budgets of potential investment projects range from 7 million to more than 1 billion hryvnias,” Kostiantyn Hura said.

To recap, Ukrenergo told about plans to issue green bonds.

As reported, the Verkhovna Rada supported the bill on the compulsory use of liquid biofuels in the transport industry.

Tags: EBRD, legislation, electricity, feed-in tariff, renewables, The Verkhovna Rada, investments, the State Agency on Energy Efficiency, ecology,

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