Ecology Ministry to create Ukraine Climate Fund

The Ministry of Environmental Protection and Natural Resources has set the target of achieving climate neutrality by mid-century – to this end, the Ukrainian Climate Fund will be set up.

That's according to a government press service report citing Minister Roman Abramovsky as saying.

"The Ministry of Natural Resources is now working on establishing the Ukrainian Climate Fund. The idea is that it will receive all environmental taxes, including the one on carbon dioxide emissions. Funds received will have to be forwarded exclusively on measures to mitigate the environmental impact and towared decarbonization," the report reads.

Read alsoRadiation-contaminated water from occupied territories may get into Azov Sea – PM ShmyhalAbramovsky is positive that global climate change is one of the greatest challenges humanity is facing.

The Minister stressed that now, in order to combat climate change, the Ministry of Natural Resources, together with international partners, is promoting modernization of energy, utilities infrastructure, and industry based on new and energy-efficient technologies.

In addition, the ministry is working on developing renewables and gradually reducing the use of coal, developing electric transport, and pursuing energy efficiency.

As UNIAN reported earlier, according to the calculations by the Ministry of Environmental Protection and Natural Resources, to fulfill Ukraine's environmental obligations to the Energy Community under the Ukraine-EU Association Agreement, as well as according to the national plans and strategies adopted last year, EUR 379 billion is needed until 2030.