Ukraine on the Path to Economic and Climate Miracles: Insights from COP29
At the United Nations Climate Change Conference (COP29), Ukraine showcased its vision for a green transformation, backed by comprehensive plans and tangible actions. In June 2024, the government approved the National Energy and Climate Action Plan (NECAP) — the country’s first-ever document integrating energy and climate policies. The plan outlines goals for decarbonization, increasing the share of renewable energy, improving energy efficiency, and fostering innovation in the energy sector.
Ukraine’s Deputy Minister of Environmental Protection and Natural Resources Victoria Kyreieva, emphasized that implementing NECAP is a top priority for the coming years:
“In 2024, we will focus on creating a legal framework for greenhouse gas emissions trading. We aim to adopt the corresponding legislation next year. Additionally, our low-carbon transition strategy is set to be completed by 2025.”
However, achieving these ambitious goals requires substantial financial resources. According to the Deputy Minister, it is crucial to unite efforts from the government, businesses, and international partners to attract new funding sources.
Financing these large-scale changes poses a significant challenge for Ukraine. Deputy Minister of Economy Andrii Teliupa presented an investment portfolio for NECAP implementation, comprising 260 private projects worth $50 billion and 140 public projects valued at $28 billion.
“By March 2025, we will prepare the first integrated progress report on NECAP implementation. We also aim to develop an online monitoring system to track progress in real-time using clear KPIs,” Teliupa noted.
The United States is actively supporting Ukraine’s green transformation. U.S. Assistant Secretary of State for Energy Resources Geoffrey Pyatt emphasized:
“We have already provided $825 million in assistance to Ukraine’s energy sector. But Ukraine is not just a need; it’s a tremendous opportunity. Its potential in renewable energy and nuclear technology makes it a key partner for Europe.”
A pivotal role in coordinating efforts is played by the Green Transition Office under the Ministry of Economy. Andrii Kitura, its head and Director of Development at DiXi Group, shared more details:
“To mobilize additional resources, we are working on a ‘carbon budget’ mechanism, which will help identify decarbonization potential across different economic sectors and highlight promising areas for investment.”
Special attention is being given to high-emission sectors, particularly agriculture (accounting for over 30% of total emissions) and the cement industry.
“For cement and agriculture, we are developing roadmaps for modernization and decarbonization. In 2025, we will start working on similar plans for other industries, such as steel production,” Kitura added.
A separate spotlight was on the Net Zero World initiative, implemented in collaboration with the U.S. Department of Energy. Nazar Kholod, the initiative’s coordinator, highlighted its practical outcomes:
“We have already presented the report ‘Recovery to Decarbonization in Ukraine’ and are developing roadmaps for sectors like cement, steel, and fertilizers. Together with Ukrainian partners, such as the Green Transition Office, we are also working on sectoral strategies for integration into European climate policy.”
Thus, COP29 served as a critical platform to demonstrate how Ukraine can transform the challenges of war into opportunities for systemic development. With the support of international partners, especially the U.S., and concrete actions under NECAP, Ukraine has the potential to become a model of successful green transformation even under difficult circumstances.
The discussion was organised by the Green Transition Office and DiXi Group think tank in cooperation with the Net Zero World initiative and supported by the Ministry of Economy of Ukraine, the Ministry of Energy of Ukraine and the Ministry of Environmental Protection and Natural Resources of Ukraine.
The Green Transition Office is an independent advisory body under the Ministry of Economy of Ukraine, supporting reforms in Ukraine’s green transition, energy, and climate policy. The Green Transition Office operates with financial support from the UK International Development Agency and is implemented by the NGO DiXi Group.
