KYIV. April 25 (Interfax-Ukraine) – The Ecology and Natural Resources Ministry of Ukraine with the support of the World Bank is actively working on implementing an efficient monitoring, reporting and verification system for greenhouse gases emissions in Ukraine, Ecology Minister Ostap Semerak has said.
Semerak said this during a working meeting dedicated to Ukraine’s compliance with its international obligations on climate change and the introduction of market mechanisms in line with Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading, the Ecology Ministry’s press service reported on Monday.
The minister noted that to begin with, a quality system of monitoring, reporting and verification of greenhouse gases emission should be created in Ukraine that will allow determining the real volumes of greenhouse gas emissions and should become the foundation for the formation of a national system for trading greenhouse gas emission quotas.
“The national system of trade in greenhouse gas emissions quotas will be an absolutely new instrument for Ukraine to implement the state policy in the field of climate change, therefore, international support and the experience of other countries in implementing the national market for trading in greenhouse gas emission quotas is important for us,”, Semerak explained.
At the same time, he stressed that without a proper monitoring system for greenhouse gases emission in Ukraine, a real national market for trading in quotas is unlikely to be created.
“By the end of 2017 we are planning to submit to the government and parliament the law of Ukraine on the system for monitoring, reporting and verifying greenhouse gases emission,” Semerak said.
He suggested that it would take no more than three years for Ukraine to create and implement a system for monitoring, reporting and verifying greenhouse gas emissions, and then it would be possible to talk about the creation of a national greenhouse gas trading system.
“These measures will enable Ukraine not only to fulfill important international obligations, but also to stimulate the modernization and increase of energy efficiency of industries, attract investment and will allow entering the regional and world markets for trading greenhouse gas emission quotas,” the minister concluded.
