Launching its own ETS to facilitate process of implementing SVAM for Ukrainian businesses – Minister of Economy
Ukraine is looking for a systemic solution to facilitate the process of implementing the carbon border adjustment mechanism (CBAM) for Ukrainian businesses, said Minister of Economy, Environment and Agriculture of Ukraine Oleksiy Sobolev.
"Ukraine is focusing on a systemic solution rather than one-off exceptions. We are preparing to launch our own emissions trading system (ETS), compatible with the European one. It will provide businesses with clear rules for accounting and reporting emissions and will allow us to move toward EU integration without chaotic ‘firefighting’ measures," he said in response to a question from Interfax-Ukraine.
The minister also noted that Ukraine is negotiating with the European Commission on a temporary easing of the CBAM for Ukrainian exports under Article 30(7) of the EU Regulation.
"War conditions require a solution that reduces additional burdens on businesses while maintaining incentives for decarbonization. The transition must occur without shocks to business, so the technical framework needs to be completed within tight deadlines," he emphasized.
According to him, the priorities include a full MRV system (monitoring, reporting, verification), capable institutions and IT solutions for administration, preparation of verifiers, sectoral modernization roadmaps, and tools to support investment in emissions reduction.