Ukraine’s green recovery requires long-term climate finance, and today’s priority is to lay the groundwork for investment in the best available technologies. This was stated by Svitlana Grynchuk, Minister of Environmental Protection and Natural Resources of Ukraine, during her speech at the preparatory event for the Business Dimension of the Ukrainian Recovery Conference “On the Road to URC 2025” in Milan. This is the first event on the way to URC 2025 with the participation of representatives of Ukrainian Government, as well as Ukrainian and Italian businesses.

In her speech, Svitlana Grynchuk stressed that despite the challenges of the war, Ukraine was already preparing the legal framework for attracting climate finance with the support of international partners.

“This year, in July, Rome will host the Ukraine Recovery Conference. Our countries already have experience of cooperation in the environmental sector at both the highest political and technical levels. Sustainable development and the European Green Deal are our common priorities. We discussed this during a joint meeting with Antonio Tajani, Deputy Prime Minister, Minister of Foreign Affairs and International Cooperation of Italy, and Yuliia Svyrydenko, First Deputy Prime Minister, Minister of Economy of Ukraine,” said Svitlana Grynchuk.

The Ukrainian Minister spoke about Ukraine’s environmental achievements under Point 8 of Volodymyr Zelenskyy’s Peace Formula, Environmental Security.

“This is not only about sustainable peace, but also about green recovery using the best available technologies. Our goal is to integrate the environmental component into all sectors of the Ukrainian economy,” the Minister said.

She informed the participants that:

• The Green Recovery Platform in cooperation with UNEP/UNECE/OECD is already working on the implementation of Point 8.
• Ukraine has approved the goal of climate neutrality by 2050.
• The draft law “On Green Recovery” is being developed in accordance with the Green Taxonomy and EU experience.
• The final stage is to determine the optimal set of carbon pricing instruments for the Ukrainian economy so that decarbonisation can contribute to a sustainable recovery and, in the future, to a transition to sustainable and green growth.

“Today, on the sidelines of the conference, we are presenting our key investment cases to the global community, such as the construction of water pipelines under the Government’s water supply programme in the frontline regions, waste management, forestry, subsoil use, and the development of alternative energy. There is a huge potential for cooperation with international partners and investors. I am grateful to Italy for its strong support to Ukraine in many areas and interest in developing joint projects,” said Svitlana Grynchuk.