Decarbonisation of Ukrainian industry under the Ukraine Facility programme, European legislation for green recovery and opportunities for investors - in the focus of the second day of the EU-Ukraine Business Summit
Svitlana Grynchuk, Minister of Environmental Protection and Natural Resources of Ukraine, took part in the discussion panel "EU Accession Reforms: Business Perspective". During the panel, DG ENEST Director-General Gert Jan Koopman emphasised the increased support for the decarbonisation of Ukrainian industry. Under the Ukraine Facility programme, within the Investment Pillar (Pillar II), it is planned to finance energy-intensive enterprises subject to the CBAM as one of the criteria. Gert Jan Koopman also emphasised Ukraine's success in implementing European legislation.
"The work within the negotiation process continues, as clear and predictable legislation is the key to long-term structural investments," said Svitlana Grynchuk.
The Minister emphasised this during her remarks at the panel. Investors who come to work in Ukraine will actually work according to the norms of European law. This is a burden on Ukrainian business, and we need the support of European funds and partners. For a sustainable and resilient green recovery, businesses need transformational long-term climate finance. This will enable the introduction of climate-friendly infrastructure technologies. Access to relevant EU financial instruments and funds will allow Ukraine to decarbonise during its recovery. We are doing our best to ensure that green recovery and business development go hand in hand even in times of war.
Also on the sidelines of the summit, the participants met with representatives of Business Europe, an association of European business associations. The head of the association agrees that the issue of clear and predictable legislation in Ukraine is a key one for investors today. The case of Ukraine is also extremely important for European business because the EU is in the process of revising its environmental and energy requirements and regulatory framework.
Minister Svitlana Grynchuk discussed with DG TAXUD Director-General Thomas Gerassimos the important issue of CBAM, the technical aspects of the mechanism and the necessary assistance for Ukrainian business. Mr. Thomas Gerassimos stressed the need for further interagency coordination and availability of data at the enterprise and supply chain levels. The impact of the DCFTA requires further assessment of the impact at the economic level and an assessment of the required level of investment to achieve the company's performance in the EU. He also shared that he is planning a visit to Ukraine at the invitation of Olha Stefanishyna, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine and Minister of Justice of Ukraine.
Svitlana Grynchuk discussed opportunities for renewable energy and the use of waste as an energy source with Oliver Gierlichs, Managing Director of Bayer Ukraine. They agreed to continue the dialogue in Ukraine.
"I am grateful to our international partners, business representatives and Ukrainian government colleagues for their unity and tremendous efforts for our green future. EU-Ukraine Business Summit for the unique opportunities for new partnerships, exchange of valuable experience and development of Ukraine," summed up Svitlana Grynchuk.