Serhii Savchuk, Head of the State Agency for Energy Efficiency and Energy Saving of Ukraine, and Serena Vento, Head of Partnerships & Commercial Relationships, Climate Bonds Initiative and representatives of the United Nations Development Program, discussed cooperation opportunities for the launch of the green bond (GB) market in Ukraine.
According to Serena Vento, the GB market is growing annually, as there is a huge demand for investment in green projects all over the world. That is why Climate Bond Initiative is always ready to back countries that shape their roadmaps to raise funds through the issuance of such bonds.
The introduction of GB in Ukraine will allow raising the necessary financial resources in the field of renewable energy and energy efficiency.
Therefore, the introduction of GB is already stipulated by the Action Plan for the implementation of the Energy Strategy of Ukraine until 2030.
"Currently, the State Agency for Energy Efficiency and Energy Saving, together with the GIZ project "Advising companies on energy efficiency" has developed proposals of legislative changes to form the legal basis for the GB issuance in Ukraine", said Serhii Savchuk.
Among further important tasks is the development of a Roadmap for the establishment of the GB market and the preparation of relevant by-laws.
Collaboration with the Climate Bond Initiative and UNDP in this area will enable integration of the best global practices into the Ukrainian market of green bonds and be a positive signal for investors.
Consequently, the parties agreed to work out the possibilities for:
- joint development of the Roadmap for the build-up of the Green Bond Market in Ukraine;
- launch of pilot projects in this area.