Ukraine to help Europe achieve climate neutrality goals, – Mykola Kolisnyk

Deputy Minister of Energy of Ukraine Mykola Kolisnyk addressed the participants of the Budapest Climate Summit. The event was also attended by Clara De La Torre, Head of the Directorate-General for Climate Action of the European Commission, representatives of the Ministry of Energy of Hungary, energy companies (TESCO, Linde Gas, Shell International, ExxonMobil, MET Group, Boston Consulting Group (BCG), E.ON Hungaria Zrt.), international financial organizations (Erste Investment, United Nations Environment Programme Finance Initiative (UNEP FI), EIB, World Bank and the European Climate Foundation).

In his online speech, Mykola Kolisnyk stressed that Ukraine, as an integral part of Europe, is ready to share with European partners the responsibility for our common future, in particular, to achieve the goals of climate neutrality.

In its recovery plans, Ukraine lays down the criteria for a climate-neutral economy by increasing renewable energy, renewable gases and advanced technological solutions.

The Deputy Minister noted that by joining the Paris Climate Agreement, Ukraine was able to increase the share of renewable energy sources in its energy mix to almost 14% by 2021, while 10 years ago it was about 4%.

“This figure could be even higher, if not for the war unleashed by russia against our country in 2014. Due to the war, 90% of wind energy capacities and 40% of solar energy capacities in Ukraine were put out of operation. Today, everyone is aware that this barbaric country – russia – has done and continues to do everything to hold the whole world hostage, including in the context of energy transition,” he stressed.

Mykola Kolisnyk stressed that “clean” nuclear energy accounts for about 50% of Ukrainian generation. And it is also an important component for achieving the European climate goals, he noted.

The Deputy Minister stressed that Ukraine has significant deposits of rare earth minerals, which are necessary for the development of renewable energy sources and energy infrastructure, in particular, lithium, titanium, uranium, zirconium, nickel, cobalt, beryllium, graphite.

“Ukraine is a potential exporter of natural gas. Our reserves are about 1.3 trillion cubic meters. This is enough to cover both domestic needs and export. There are significant prospects for the development of biomethane. In this area, we are already working with partners to harmonize standards and liberalize the requirements for the quality of natural gas in the EU countries,” Mykola Kolisnyk added.

“Ukraine has something to offer the world. Including in terms of climate neutrality. We have the capabilities. The only thing we lack is peace. And how quickly we achieve it depends on our joint efforts,” the Deputy Minister stressed.