The Government is actively engaged in the process of introduction of new tools designed to stimulate greenhouse gas emission reductions and to step up modernization of production. This was stated by Minister of Ecology and Natural Resources of Ukraine Ostap Semerak, while delivering a report during the parliamentary hearings on fulfillment  of international obligations on prevention of human-induced climate change undertaken by Ukraine Ukraine.

The Ministry of Ecology and Natural Resources is currently shaping a package of legal and technical decisions necessary for the implementation and operation of the monitoring and reporting system of greenhouse gases in accordance with the requirements of the European legislation.

"This step will allow to obtain a reliable and objective data on emissions of greenhouse gases, as well as to create economic instruments for the regulation of greenhouse gas emissions in Ukraine. In particular, to set a national emissions trading market", the Minister explained.

To this end, a key draft law in the sphere of the Monitoring Reporting and Verification of greenhouse gas emissions “On the Basic Elements of Monitoring, Reporting and Verification of Greenhouse Gas Emissions” was elaborated. It is being harmonized with the line authorities, after its approval  the bill will be submitted to the Cabinet of Ministers of Ukraine for consideration.

 "I count on the support by the Government and the Parliament. The adoption of the bill will demonstrate that Ukraine fulfills its international obligations to confront climate change and will bring our legislation  in line with the EU legislation and European principles of implementation of the climate policy", Ostap Semerak underscored.