Ukraine will be ready to take part in the CO2 emission quotas trade and may start it already in 2024-2025, Minister of Environmental Protection and Natural Resources Ruslan Strelets told the Interfax-Ukraine news agency.
“Ukraine can already in 2024-2025 to start trading quotas. The issue is not on pause. In 2023, we have already signed an agreement with the Swiss Confederation, signed a relevant memorandum with Japan, and with many more countries we are now negotiating agreements already directly on quota trade under Article 6 of the Paris Agreement,” Strelets said.
“We already have certain steps, not just conversations,” he added.
According to him, since January 1, 2022, Ukraine is implementing a system of monitoring, reporting and verification at the installation level. “To date, the ministry has already registered more than a thousand installations, and we are already receiving reports,” Strelets said.
According to him, the process has slowed down somewhat due to the full-scale invasion of the country by the Russian Federation, but the movement continues.
In addition, in preparation for the trading of quotas, the team of the Ministry of Natural Resources is preparing a bill that will enable to build a system to verify the monitoring of greenhouse gas emissions.
At a recent joint meeting with the Ukrainian government, European Commissioner for the Environment Virginijus Sinkevičius stated that the EU-Ukraine focus dialogue on the European Green Agreement and the Green Transition has been put on pause because of the war. According to him, Brussels is ready to resume it when Ukraine is ready. Sinkevicius noted the importance for Ukraine to implement a functioning system of monitoring, reporting and verification at the installation level as a first step towards the ETS (Emissions Trading System).
