“The creation of the Fund is a signal to international partners that our country is developing according to European principles. This includes the reduction of harmful CO2 emissions and investments in energy efficiency. Such steps will provide an opportunity for the recovery of the Ukrainian economy and the development of communities,” the Minister of Reconstruction, Oleksandr Kubrakov, is convinced.
As a result, Ukraine will have a reliable, legally protected source of funds for implementing energy efficiency programs, reducing CO2 emissions, and support for alternative energy sources.
The fund will be financed with an environmental tax on CO2 emissions, according to the “polluter pays” principle. Large industrial enterprises will primarily pay the tax. The fund also plans to attract international loans and grants.