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The Ministry of Energy of Ukraine initiates the creation of the Decarbonization Fund

Ukraine

The funds of the Fund are proposed to be directed exclusively to projects that lead to the reduction of CO 2 carbon dioxide emissions.

The Ministry of Energy of Ukraine initiates the creation of the Decarbonization Fund

It is assumed that the Fund will be replenished with a part of the tax on carbon dioxide emissions, and the funds from it will go exclusively to projects that reduce CO 2 emissions and have energy efficient, environmentally friendly and social effects. With such a proposal to the people's deputies was made today by the acting Minister of Energy Olga Buslavets.

The initiative to introduce the Decarbonization Fund was developed by the Ministry of Energy with the support of the Ukrainian-Danish Energy Center and the State Energy Efficiency Agency of Ukraine.

“The Decarbonization Fund will be a step towards reducing the carbon footprint of Ukrainian products, which will also provide an opportunity to get rid of an additional duty - the so-called“ carbon tariff ”, which may be introduced next year. In practice, the Fund will help Ukraine to achieve a mutually beneficial partnership with the EU countries in the field of sustainable development and the implementation of the Green Deal, to the implementation of the goals of which we strive to join, ”Olga Buslavets said during an online meeting with parliamentarians.

18 leading countries in the world use the CO tax 2 exclusively for decarbonisation measures, which already has significant energy efficiency and environmental effects.

In Ukraine today, this tax also exists and is sent to the general fund of the state budget. To increase the efficiency of its use, it is proposed to make part of this tax a source for filling the Decarbonization Fund.

“The creation of the Fund is provided without the formation of a separate legal entity. Its format is "an item in the budget", by analogy with the State Fund for Regional Development, State Road Fund ", - said the acting. minister.

With this option, the administration process will not require additional costs from the state budget and will be carried out by existing state institutions. Now it is proposed that the Fund will be administered by the State Energy Efficiency Agency, which is now in the process of reforming and will receive all the necessary administrative competencies.

The funds of the Fund will be directed exclusively to projects that lead to the reduction of carbon dioxide CO 2 . Currently, seven areas are being considered that have energy efficient, environmentally friendly and social effects, these are:

  • Projects of eco-modernization of generating enterprises;
  • Modernization of heating systems, water utilities, street lighting;
  • Reducing the cost of projects with the utilization (processing) of household waste;
  • Electric buses for public transport;
  • Promotion of the use of private electric vehicles by the population;
  • Projects of replacement of traditional fuels in the public sector;
  • Promotion of production and use of bioethanol, biogas.

According to the Ministry of Energy of Ukraine, this list is not exhaustive and may be supplemented.

Olga Buslavets called on the people's deputies to participate in the discussion. The parliamentarians who took part in the online meeting generally agreed with the idea of ​​creating a Decarbonization Fund and proposed to continue working on this initiative, taking into account the proposals of the BP Committee on Environmental Policy and Environmental Management.

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