"Energy efficiency, as a mandatory component of decarbonization and the EU Green Deal, must be implemented in all sectors. This is the principle we lay down in the development of legislative initiatives", said Konstyantyn Hura, acting Head of the State Agency for Energy Efficiency and Energy Saving, in his video address to the participants of ECOFORUM-2020.

Ukraine is interested and is already preparing for the planned European Green Deal. "On the one hand, the EU Green Deal is a challenge for us, and on the other - it is an opportunity to build an energy-efficient economy side by side with European partners," said Kostyantyn Hura in a video address.

Thus, the Ministry of Energy together with the State Agency for Energy Efficiency and Energy Saving and with the participation of the expert community intensified work on the legislation and prepared a number of initiatives, in particular:

the basic bill "On energy efficiency" was finalized;

draft National Action Plan on Energy Efficiency for the period up to 2030 was finalized;

draft 5-year Target Program on energy efficiency has been developed, covering various sectors of the economy;

draft laws on resumption of ESCO procurement and expansion of ESCO to heat supply, water supply facilities, and electricity networks have been developed;

draft decision on the extension of the "Warm Loans" program for 2021 was prepared and submitted to the Government for consideration;

a package of bills has been developed to stimulate investment in bioenergy sector and much more.

"Renewable energy sources play an important role in reducing energy dependence and replacing traditional energy resources. Technologies in this area are becoming cheaper in the world and help meet the energy needs of Ukrainian communities and families. Bills have already been prepared jointly with the Ministry of Energy to improve the conditions for the implementation of bioenergy projects," said Yurii Shafarenko, Deputy Head of the State Agency for Energy Efficiency and Energy Saving.

In addition, the State Agency for Energy Efficiency and Energy Saving, with the support of the EU, has launched an awareness-raising campaign among the population about the benefits of installing solar plants, solar collectors, heat pumps and other technologies.

As for energy efficiency in one of the most energy-intensive sectors - industry, a bill has been prepared on a guaranteed source of funding for energy modernization of Ukrainian enterprises. Such a mechanism is envisaged that will allow accumulating revenues from the CO2 emissions tax, which is almost UAH 1 billion a year, and reinvesting the resource in co-financing energy-efficient projects for enterprises. Tamara Burenko, Deputy Director of the Strategic Development Department of the State Agency for Energy Efficiency and Energy Saving, spoke in detail about the mechanism and benefits of energy efficiency projects for industry.

Also, cooperating with the State Agency for Energy Efficiency and Energy Saving and realizing the need for effective financial instruments, UNIDO together with Ukrgasbank created a Loan Guarantee Fund for industrial enterprises for energy efficiency. Under the terms of the program, companies can take loans without collateral for the implementation of energy management systems or modernization.

Another tool for attracting financial resources is green bonds. Their release will attract "green" financing at an affordable cost, and the implementation of investment projects - to save energy and the cost. A law has been passed to launch this market. The State Agency for Energy Efficiency and Energy Saving, the National Commission on Securities and Stock Markets and international partners (GIZ, IFC, UNIDO, UNDP, Climate Bonds Initiative) took part in its development. The priority measures that the Agency is currently working on to introduce the green bond market were outlined by Andrii Frolov, Deputy Head of the Department of Energy Efficiency Reform and Energy Saving of the State Agency for Energy Efficiency and Energy Saving.

The State Agency for Energy Efficiency is grateful to the Professional Association of Ecologists of Ukraine for organizing the All-Ukrainian ECOFORUM-2020 and raising issues of energy efficiency and environmental policy in the country relevant to business and the population.