Ukraine wants to create a $6B investment fund for energy sustainability.

The State Agency for Energy Efficiency plans to create an International Green Investment Fund in Luxembourg, with an investment strategy calculated for 7-10 years and $6B, agency head Hanna Zamazeyeva announced at the second Luxembourg-Ukrainian business forum, Rapid Recovery of Ukraine.

The fund’s mission will be to reduce energy consumption and promote energy sustainability in Ukraine by financing energy-efficient measures. She also reported that, in the next two weeks, the government is expected to approve the necessary documents for the state’s Fund for Decarbonization and Effective Transformation to begin operations, financed by an emission tax.

Approximately $11.9B in investment through 2030 will be necessary. She noted that the potential for reducing household energy consumption is even higher – 50-60%, although the amount of consumption itself is inferior to industry demands – €3.6B.