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The government has taken the first step towards launching a quota market in Ukraine

24/ 09/ 2020

Yesterday, September 23, the Government adopted three resolutions that are necessary for launching a system for measurement, reporting, and verification of greenhouse gas emissions (MRV), namely:

  • Procedure for measuring and reporting greenhouse gas emissions;
  • Procedure for verification of the operator’s report on greenhouse gas emissions;
  • List of activities subject to measurement, reporting, and verification of greenhouse gas emissions.

In recent months, the EBA experts have appealed to the representatives of the Ministry of Environmental Protection to facilitate the adoption of these documents. After all, the full launch of the system of measurement, reporting, and verification of greenhouse gas emissions is the first stage in the implementation of Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading to gradually reduce greenhouse gas emissions by enterprises. The next stage is the development and implementation of the quota market itself.

This issue is gaining special importance in the context of Ukraine’s desire to participate in the European Green Deal and support the EU’s climate ambitions. Besides, the legislative regulation of carbon prices will facilitate the start of a dialogue with the EU on the differentiated application of a probable carbon Carbon Border Adjustment Mechanism to Ukraine. Thus, Ukrainian exports to the EU will be exempted from paying additional carbon taxes, precisely because the state will take specific measures to combat climate change.

The business community welcomes the approval of the Government’s resolutions and will unveil a detailed analysis of these documents in the near future. We hope for further cooperation in this matter!

 

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