Ukraine will deepen its integration into the EU energy market in parallel with the country's green transformation, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine announced during a meeting of the Energy and Climate Committee of the Energy Community, which took place on 22 February.

Representatives of the Ukrainian Government, the European Commission, the member states of the Energy Community, as well as the Director of its Secretariat took part in the meeting of the Committee, co-chaired by Olha Stefanishyna.

"Ukraine is part of a pan-European policy of green transformation, and we are aware of our role in achieving climate neutrality throughout the European continent. Today, the Government of Ukraine is developing a number of strategies and plans for the medium and long term in this direction. They will allow integrating Ukrainian energy into EU markets, reducing the impact of the energy sector on the environment and climate, as well as creating incentives for modernization of enterprises and increasing their competitiveness," said the Deputy Prime Minister following the meeting.

Olha Stefanishyna thanked the international partners for the analysis provided by the Energy Community on various scenarios, the implementation of which would allow the country to reduce harmful emissions in the energy sector.

"Creating an emissions trading system is rather crucial for Ukraine, especially in the context of the EU's plans to introduce a Carbon Border Adjustment Mechanism (CBAM). The relevant system of quota trading is already being considered in Ukraine, while the earlier introduced mechanism of monitoring, reporting and verification of harmful emissions introduced in line with the European approach was an important step in this direction," Olha Stefanishyna noted.

The official also emphasized that over time, the national carbon trading system could be merged with the European emissions trading system.

On the outcomes of the meeting, Olha Stefanishyna stressed that Ukraine's early involvement in the European Green Deal and participation in the modernization of Energy Community policies would promote Ukraine's smooth integration into the European Union energy market and further development of EU-Ukraine bilateral trade.