Friday 1 June 2018

Ukrainian state-owned bank joins carbon pricing coalition

Ukraine's state-owned bank has become the first financial organisation from the country to join the Carbon Pricing Leadership Coalition.

Ukrgasbank hopes its new partnership will boost sustainable and environmentally-friendly economic growth and drive its position as one of the region's greenest banks - it has already financed more than 330 clean energy projects, eliminating nearly 900,000 tonnes of carbon dioxide emissions a year.

The partnership includes agreements around green finance and providing easier access to funding for companies intending to implement projects in renewable energy, energy efficiency and environmental protection.

The announcement comes ahead of the expected privitisation of Ukrgasbank before the end of 2019.

Kyrylo Shevchenko, Ukrgasbank's CEO said, "Ukrgasbank is very proud of this new relationship with the Carbon Pricing Leadership Coalition and we expect great things to come off the back of this partnership.

"Our experience in financing green projects and cooperation with regulatory authorities will contribute to the implementation of optimal carbon pricing mechanisms in Ukraine that will stimulate the development of green technologies and innovative projects on the market, driving new, low carbon economic growth."