Ukraine will join the international development of carbon markets shutterstock

Ukraine will join the international development of carbon markets

Katerina Belousova

This will allow to attract additional financing for the post-war "green" recovery

The Cabinet of Ministers approved the draft letter on Ukraine's participation in the Partnership for the Implementation of Article 6 of the Paris Agreement on the Development of Carbon Markets and Private Investments.

The partnership involves the development of tools for the implementation of the article, the exchange of experience and the holding of joint exercises and trainings for reporting, the Ministry of Environmental Protection and Natural Resources reports on Facebook.

It is noted that this international initiative was launched by the Ministry of the Environment of Japan at the 27th UN Conference on Climate Change. 40 countries and 23 international institutions expressed interest in participation.

The message explained that as part of the partnership, Japan will take a leading role in the global expansion of market mechanisms, which is provided for by Article 6 of the Paris Agreement.

"Even in war conditions, Ukraine continues to actively participate in global processes," said the Minister of Environmental Protection and Natural Resources, Ruslan Strilets.

He added that joining the Partnership will contribute to achieving a global reduction in greenhouse gas emissions. In addition, it will allow to attract additional financing for post-war green recovery.

Earlier, EcoPolitic wrote, that on March 14, the Cabinet of Ministers of Ukraine approved the Government's Priority Action Plan for 2023. One of the key directions will be energy security, the development of renewable energy and the implementation of the principles of the European "green" course

As EcoPolitic previously reported, a study by analysts from the DiXi Group showed that only 25.7% of Ukrainians support the green reconstruction of the country.

Related
IEA announced the beginning of the end of the fossil fuel era
IEA announced the beginning of the end of the fossil fuel era

Projected decline in fossil fuel demand is insufficient to limit global warming to 1.5°C

The price of carbon emissions has fallen to a record low in the UK
The price of carbon emissions has fallen to a record low in the UK

The profit from STV is a source of financing the green transition

China launches updated carbon credit trading system
China launches updated carbon credit trading system

Buyers of carbon credits will mainly be enterprises with a high level of emissions