The Cabinet of Ministers of Ukraine has approved a draft letter of the Government of Ukraine to join the Paris Agreement Article 6 Implementation Partnership on carbon markets and private investment.

This international initiative was launched by the Ministry of the Environment of Japan at the 27th UN Climate Change Conference. After the announcement of the initiative, 40 countries and 23 international institutions expressed their interest in participating.

The partnership involves the development of tools for implementing Article 6 of the Paris Agreement, exchange of experience and joint exercises and reporting trainings. In cooperation with the countries and international institutions involved in the partnership, Japan will take a leading role in the global expansion of market-based mechanisms under Article 6 of the Paris Agreement.

“Ukraine continues to take an active part in global processes even in times of war. Ukraine’s accession to the international initiative to implement Article 6 of the Paris Agreement will help achieve global greenhouse gas emission reductions and at the same time allow our country to attract additional funding for post-war green recovery,” said Ruslan Strilets, Minister of Environmental Protection and Natural Resources of Ukraine.