Ukraine has submitted to the European Commission a Plan for the €50 billion Ukraine Facility financial support program, which includes six reforms as part of the green transition.
The plan also takes into account overcoming the consequences of Russian aggression, which has damaged or destroyed a significant number of Ukrainian industrial facilities, the Ministry of Environmental Protection and Natural Resources reports on Facebook.
The press service said that the green transition reforms include:
- counteracting industrial pollution;
- a course towards climate neutrality;
- a market for emission quotas;
- combating illegal deforestation;
- Waste management and transition away from the resource-based economy;
- environmental impact assessment and strategic environmental assessment.
The Ministry of Environment explained that these reforms are in line with the UN Sustainable Development Goals to combat climate change and its consequences, and are aimed at developing Ukraine in line with European standards.
"By implementing these reforms, Ukraine can become a European leader in decarbonization," the press service emphasized.
It is noted that the Plan provides for the restoration of destroyed industrial facilities using the best available technologies and provides funding for
- modernization of the Ukrainian economy;
- increasing its resource intensity and competitiveness.
This will contribute to the achievement of Ukraine's climate goals by 2035.
It is noted that the Plan provides for almost 70 areas of reform, including structural reforms in the public sector, a number of economic reforms aimed at developing the business climate and entrepreneurship, etc.
"More than 100 quarterly indicators correspond to the reforms. By fulfilling them, Ukraine will be able to receive about €16 billion this year. One of the most important components of the program is the green transition and environmental protection," the statement emphasized.
According to Prime Minister Denys Shmyhal, this is an important step for the implementation of reforms and financial stability on Ukraine's path to the EU.
As EcoPolitic previously reported, on March 18, the Cabinet of Ministers approved the Reform Plan for the €50 billion Ukraine Facility, one of the cross-cutting areas of which is the green transition.
