Financing emission reduction projects: UNDP accepts applications from Ukrainian businesses

Financing emission reduction projects: UNDP accepts applications from Ukrainian businesses shutterstock

Maria Semenova

Companies may participate in ITMO programs in the future and receive funds for eco-modernization

Ukrainian businesses are getting a new window of opportunity on the international carbon market. The United Nations Development Program (UNDP) has opened a call for expressions of interest (REOI) from private companies willing to invest in emissions reduction. This is the first stage of participation in the International Transferable Emissions (ITMOs) program.

This was reported by the Ministry of Economy, Environment, and Agriculture.

ITMOs make it possible to attract private funds to decarbonization projects. The program operates within the framework of Article 6.2 of the Paris Climate Agreement.

Countries that have relevant legal agreements with Switzerland can participate in ITMOs. Ukraine is one of these countries. The projects that win the competition will be implemented in 2026–2030.

Why is this important for business?

For Ukrainian companies, participation in ITMOs has not only an important environmental component, but also a financial one. It provides real access to international financing for the eco-modernization of production and reduction of emissions.

Promising areas include the development of renewable energy (RES), improving energy efficiency, and reducing methane emissions, particularly in agriculture.

Next steps

The purpose of this REOI collection stage is to determine whether the Ukrainian private sector has the potential to form high-quality climate projects.

There will be a competitive selection for participation in the ITMOs program. Companies whose projects are selected will sign payment agreements. After independent validation confirms the decarbonisation results, Ukrainian businesses will receive payment for participating in the climate program.

Contacts and consultations

Companies can inquire about the application terms and directly send their REOIs to the following email address: carbon.markets@undp.org. The final deadline for applications is January 30, 2026.

An information session for potential ITMOs participants will be held on January 14.

For more details about the program and registration for the session, please see the link.

Earlier, EcoPolitica reported that the Ukrainian Decarbonisation Fund funded the implementation of 72 projects worth UAH 1.56 billion. The total decarbonisation effect of the implemented projects is an annual emissions reduction of almost 40,000 t of CO2.

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