Business news from Ukraine

Business news from Ukraine

Nova Posta plans to open in six more EU countries by the end of the year

Nova Posta Group plans to enter the market of six more European Union countries by the end of the year, opening its first branches there, Nova Posta co-owner Vyacheslav Klimov said at the Kiev International Economic Forum this week Vyacheslav Klimov at the Kiev International Economic Forum held this week.

“We have expansion going on. There are already eight countries. There will be six more by the end of this year,” Klimov said.

As the company’s press service specified to Interfax-Ukraine, Nova Post branches will appear in Latvia, Estonia, Hungary, Italy, France and Austria.

Klimov noted at the forum that two languages – local and Ukrainian – will be working in Nova Post branches abroad.

“We have made a firm decision that two languages will be spoken in Nova Post branches in Europe. It will be the local language and it will be the Ukrainian language,” said the co-owner of the company.

He also said at the forum that the company’s group allocates about 100 million hryvnias per month to the needs of the army. Klimov specified that 3249 employees of the company are currently in the AFU, and since the beginning of the full-scale invasion 99 colleagues have died.

As reported, Nova Post has already opened 62 branches in Poland, Lithuania, Czech Republic, Romania, Germany and Moldova.

In the network Nova Posta in Ukraine at the beginning of July 2023 included more than 10 thousand offices and more than 14 thousand post offices.

The Group includes Ukrainian and foreign companies, including Nova Posta, NP Logistics, NovaPay payment system and Nova Posta Global.

Germany to provide Ukraine with additional 200 million euros to support education and health care

Germany will provide Ukraine with an additional 200m euros to support education, the health care system and drinking water supply, as well as reconstruction of cities.

This was announced by the German government’s commissioner for Ukraine’s reconstruction, Jochen Flasbart, during his visit to Ukraine, Deutsche Welle (Deutsche Welle) reported citing DPA.

According to the Ministry of Economic Cooperation and Development in Berlin, Germany has allocated about 1.1 billion euros to support civilians since Russia’s full-scale invasion of Ukraine.

On October 20, Flasbart announced on social network X that he had arrived in Kiev together with German Federal Minister for the Environment Steffi Lemke.

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Climate office opened in Ukraine

The Climate Office, opened with the support of the European Union and the International Climate Initiative (IKI), will start operating in Ukraine, the Ministry of Environmental Protection and Natural Resources of Ukraine has announced.

According to its Facebook post on Saturday, the Climate Office was launched at the International Conference “United for Justice. United for Nature” conference held on October 20-21 in Kyiv, was opened by the head of the Ministry of Environmental Protection of Ukraine Ruslan Strilets, European Commissioner Virgijus Sinkevicius and German Federal Minister for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection Steffi Lemke.

It is noted that it will support the government of Ukraine in implementing climate policy, help regions and businesses implement decarbonization and adaptation projects, and become a tool for attracting green finance for Ukraine’s post-war recovery. In addition, it is indicated that the office will be one of the key stakeholders that will facilitate Ukraine’s cooperation under Article 6 of the Paris Agreement and accession to the international carbon market, and will develop an emissions trading system in Ukraine.

According to Strilets, this is the last link that will complete the development of climate governance in Ukraine.

“Today, a titanic work is being done to ensure that our country becomes a member of the European Union and is within the CBAM (Carbon Border Adjustment Mechanism). Next year we plan to launch a pilot national emissions trading system (ETS). We will give producers the opportunity to try to make transactions in the ETS market and understand how this market works,” explained Strelets one of the areas of the office’s work.

According to the minister, carbon certificates are to be introduced in 2025, which will allow Ukraine and its producers to sell excess CO2 that has not been emitted.

“In 2026, the emissions trading system will be fully operational in Ukraine. For now, we need to verify all the available data and show the world our potential for free allowances. We are ready to share our emissions and contribute to the global climate track. The support of our partners is important for our country, and we have really felt it from the very beginning of our struggle for justice and peace,” the head of the Ministry of Environment emphasized.

As reported, in an exclusive interview with Interfax-Ukraine in early October, Minister of Environmental Protection and Natural Resources Ruslan Strilets said that he considers it necessary to adopt a law on the national TRS next year in order to implement it in 2025 and thus avoid obstacles to Ukrainian exports related to the entry into force of the CBAM on January 1, 2026.

“If we create our own national ETS that is fully in line with the European one, including the price of CO2 emissions, or integrate our ETS with the European one, then we are not afraid of CBAM at all. Because we will already be in this CBAM within its borders. Now those who want to supply us with products will have to pay. In fact, our task is to move the CBAM border and be inside this project,” Strelets said.

The International Climate Initiative (IKI) is an instrument of the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) for international financing of climate change mitigation and biodiversity conservation.

Sweden will finance development of green transition plan for Ukraine

The Stockholm Environment Institute (SEI) is launching a project to develop a roadmap for Ukraine to achieve climate neutrality by 2050, said Bernardas Padegimas, head of the institute’s environmental policy and strategy team.

“We will start actively working on the project, discussing it at different levels. The goal is to help Ukraine achieve climate neutrality through a green transition and recovery,” Padegimas said at the United for Justice United for Nature high-level international conference in Kyiv.

According to him, the project is funded by the Swedish government.

According to his presentation, the roadmap, in particular, should be developed by June 2025.

According to Padegimas, the roadmap will be followed by “the development of a number of specific projects with the participation of specific donors,” and this process is scheduled to be completed in March 2026.

Padegimas noted that the development of a roadmap for Ukraine will be based on the principles of green transition adopted in Europe, and it will contain Ukraine’s goals and mechanisms for achieving them in the short, medium, and long term.

He added that many experts will be involved in the development of the map, particularly in the area of “green” development.

As reported, the head of the Presidential Office, Andriy Yermak, speaking at the international conference “United for justice. United for nature”, said that Ukraine’s plan to restore the environment affected by Russia’s full-scale aggression should be reflected in a resolution of the UN General Assembly.

At the same conference, the Minister of Environmental Protection and Natural Resources Ruslan Strilets noted that law enforcement agencies are investigating more than 2,500 crimes against the environment as a result of Russia’s military aggression, with total environmental damage amounting to EUR 55 billion.

KZHRK reduced sinter ore production by 29%

In January-September this year, Kryvyi Rih Iron Ore Plant (KZHRK) reduced production of commercial iron ore from underground mining by 28.5% year-on-year to 1.8 thousand tons.

According to the company, in September, Pokrovska mine produced 35 thousand tons of ore, Kryvorizka mine – 35 thousand tons, Kozatska mine – 25 thousand tons and Ternivska mine – 40 thousand tons, while the total production at the plant in September amounted to 135 thousand tons.

As reported, in 2022, KZHRK reduced production of commercial iron ore from underground mining by 32.8% year-on-year to 2.888 million tons.

KZHRK specializes in underground iron ore mining. The company has four mines: “Pokrovska (formerly Oktyabrskaya), Kryvorizka (Rodina), Kozatska (formerly Gvardeyskaya) and Ternovska (formerly Ordzhonikidze and then Lenin).

Starmill Limited owns 99.88% of the plant’s shares.

Earlier it was reported that SCM Group owns a certain share in KZHRK, while Metinvest Group has no relation to KZHRK. At the same time, SCM Group is only an investor, while Privat Group exercises operational control over the plant.

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