The President of Ukraine, Volodymyr Zelenskyi, in an address to the participants of the Bloomberg New Economy Forum, said that after the war, Ukraine will be able to replace dirty fossil fuels from Russia with green energy.
The country has huge potential in low-carbon energy and is capable of becoming a key partner of the EU on the path to decarbonization, the website of the President of Ukraine reports.
He noted that due to Russian aggression, the world is not paying maximum attention to the green transformation, but is looking for cheaper supplies of oil, gas, and coal in order to lower energy prices.
"It is the price of energy, not the purity of energy, that is the number one issue for many," said Zelenskyi, emphasizing that the Russian Federation uses energy resources as a weapon.
He also emphasized that Russian aggression created an artificial threat of starvation for tens of millions of people.
Zelensky noted that the world needs real long-term peace, and not mitigation of crises, which may worsen over time.
"When we restore territorial integrity and guarantee reliable peace, Ukraine will become a powerful source of new global development. And it's not just about the economy, it's about the modern economy," said the President of Ukraine.
He noted that under such conditions, Ukraine will be able to:
- supply the EU with green energy, because it has a huge potential in low-carbon energy;
- to become one of the main suppliers of green hydrogen, ammonia and electricity in the EU;
- to produce green electricity at a very competitive cost, thanks to climatic conditions, free areas, wind, solar and bioenergy resources.
Zelenskyi also said that one of the largest Australian private investment groups has committed to invest the first $500 million specifically in the initiative for the green growth of Ukraine as part of the creation of the $25 billion Recovery Fund.
He also emphasized that the country has a significant potential for extracting resources, in particular critical raw materials necessary for the green transition.
"The modern economy needs lithium, graphite and other rare earth metals. For some of these resources, we have the largest reserves in Europe. These are already colossal possibilities. Plus production and transport capabilities, plus our potential in mechanical engineering, our work culture and access to the world's leading markets - this is the basis for the economic growth that everyone so desperately needs," Zelenskyi said.
Earlier, EcoPoliic wrote, that the President of Ukraine Volodymyr Zelenskyi during his speech at COP27 said that there can be no effective climate policy without peace.
As EcoPolitic previously reported, the head of the State Geology and Subsoil Service of Ukraine and the vice president of the European Bank for Reconstruction and Development signed a Memorandum on digitization of raw materials critical for the green transition.
