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The business will offer the concept of the trading market for CO2 emissions quotas in Ukraine

12/ 05/ 2023
  The Industrial Ecology and Sustainable Development Committee of the European Business Association reports the start of work on studying the international experience of carbon pricing and the possibility of its implementation in Ukraine. The research will recommend implementing a greenhouse gas emissions trading system in Ukraine. The analytical company GMK Center, which won the corresponding tender held by the Association in April, will be the performer of the study. As part of the research, the following tasks are planned: Conduct a review of existing CO2 pricing mechanisms in different countries. Identify the advantages and disadvantages of the primary carbon pricing mechanisms, with justification for the best solution for Ukraine. Describe the EU Emissions Trading System (EU ETS), including the evolution of its parameters, current operating scheme, distribution of responsibilities between the European Commission and member states, comparison with the CO2 emissions tax in Ukraine, the use of revenue from quota sales, and the operation of funds within the EU ETS. Identify the conditions necessary for Ukraine to implement its own emissions trading system. Svitlana Mykhailovska. Deputy Director of the European Business Association. The war, security risks, and political and economic instability have not affected the relevance of the green agenda for the business community. Specifically, there is still a sustainable focus on developing low-carbon development strategies, technological solutions, and decarbonizing the economy as a whole. At the same time, the Carbon Border Adjustment Mechanism (CBAM) in the EU and Ukraine’s candidacy for EU membership requires accelerated integration into the European Emissions Trading System (EU ETS) within the framework of Euro integration. Therefore, we plan to propose a business-driven concept of a CO2 emissions trading market for Ukraine within the next few months for decarbonizing the economy. So that these proposals can be taken into account in the process of rebuilding an even more progressive Ukraine.

The Industrial Ecology and Sustainable Development Committee of the European Business Association reports the start of work on studying the international experience of carbon pricing and the possibility of its implementation in Ukraine. The research will recommend implementing a greenhouse gas emissions trading system in Ukraine.

The analytical company GMK Center, which won the corresponding tender held by the Association in April, will be the performer of the study.

As part of the research, the following tasks are planned:

  1. Conduct a review of existing CO2 pricing mechanisms in different countries.
  2. Identify the advantages and disadvantages of the primary carbon pricing mechanisms, with justification for the best solution for Ukraine.
  3. Describe the EU Emissions Trading System (EU ETS), including the evolution of its parameters, current operating scheme, distribution of responsibilities between the European Commission and member states, comparison with the CO2 emissions tax in Ukraine, the use of revenue from quota sales, and the operation of funds within the EU ETS.
  4. Identify the conditions necessary for Ukraine to implement its own emissions trading system.
Svitlana Mykhailovska Deputy Director of the European Business Association
The war, security risks, and political and economic instability have not affected the relevance of the green agenda for the business community. Specifically, there is still a sustainable focus on developing low-carbon development strategies, technological solutions, and decarbonizing the economy as a whole. At the same time, the Carbon Border Adjustment Mechanism (CBAM) in the EU and Ukraine’s candidacy for EU membership requires accelerated integration into the European Emissions Trading System (EU ETS) within the framework of Euro integration. Therefore, we plan to propose a business-driven concept of a CO2 emissions trading market for Ukraine within the next few months for decarbonizing the economy. So that these proposals can be taken into account in the process of rebuilding an even more progressive Ukraine.

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