09:22 21.09.2022

Chapter Zero climate management platform launched in Ukraine

5 min read
Chapter Zero climate management platform launched in Ukraine

Chapter Zero Ukraine & Caucasus is launched in Ukraine as part of the Climate Governance Initiative (CGI), which is being implemented in cooperation with the World Economic Forum (WEF) and supported by the EBRD.

As reported in a joint release, Kyiv School of Economics (KSE) becomes the host organization, Deloitte Ukraine acts as an intellectual partner.

"Confronting the climate challenge at a time of war in Ukraine and regional turbulence in Armenia and Georgia might seem a tall order - but the alternative is worse. Getting this right now is critical both to the success of Ukraine's reconstruction, and to the development of a competitive and resilient economy in Armenia and Georgia," Karina Litvack, Chairman of the Climate Governance Initiative, said.

Board members and executives of financial and non-financial corporations from Ukraine, Georgia, and Armenia can from today join new chapter of a global network promoting the understanding and adoption of effective climate governance.

The CGI’s global network of more than 20 national and regional chapters established in 2019 promotes the adoption of the Principles for Effective Climate Governance published by the WEF.

"Chapter Zero Ukraine & Caucasus is a vital resource to enable directors to acquire the competencies they need to place the climate transition at the heart of board strategy, culture and routine decision-making. By joining, they will access an instant fellowship of like-minded directors, as well as experts in key areas of strategy, risk management, audit, remuneration and reporting. We are delighted to welcome our new colleagues, and to work together to build a stable and prosperous Ukraine, Armenia and Georgia," Litvack said.

Chapter Zero Ukraine & Caucasus structure comprises the Advisory and Supervisory Boards responsible for the Chapter's strategic development, while the Secretariat is responsible for implementing the strategy.

The Advisory Board members are Ksenia Brockmann, Head of Green Financial Systems, Caucasus, Central Asia and Turkey, Climate Strategy and Delivery at EBRD and Aliona Stratan, First Deputy Chairwoman of the Management Board of maib, a Member of the Supervisory Board of Armenian Institute of Directors.

The members of the Supervisory Board are Oksana Volchko, a Member of the Supervisory Boards of Ukrgasbank and Ukrposhta, Maria Luisa Cicognani, Chairman of Mobius Investment Trust, Non-Executive Chairman of Arafa Holding, Yegor Grygorenko, Partner, Head of Consulting and Risk Advisory at Deloitte Ukraine, Natalia Shapoval, Head of KSE Institute, Hayk Shekyan, Founder and CEO at Shtigen LLC and Olena Rybak, Managing Director of iC consulenten in Ukraine.

Board members and executives of financial and non-financial corporations from Ukraine, Georgia, and Armenia, who seek to pursue climate risk management, integration of climate considerations into their company’s strategy and governance and are ready to be drivers of change, are invited to become Members of Chapter Zero Ukraine & Caucasus.

Ukrainian, Georgian, and Armenian companies that are able to demonstrate that they follow sustainable business practices, already attract foreign investment more easily. Both the green origin of the purchased materials and green production methods must be reflected in the reporting accordingly. Chapter Zero Ukraine and Caucasus will focus on spreading this practical knowledge and expertise on climate governance to connect businesses in these countries more strongly to international markets and capital.

The EBRD supports the establishment of this new chapter as part of a partnership with CGI to enhance boards' understanding of how climate risks could affect their business in key regions of focus for the Bank.

The EBRD and CGI partnered up in April this year to promote climate governance of companies, including training non-executive directors on climate-related risks and their implications for business to boost boards' capacity to move towards a net-zero economy.

"The EBRD, its partners and clients need to address climate change at the organisational level to achieve systemic impacts; board directors and executives can play a significant role," Matteo Patrone, EBRD Managing Director for Eastern Europe and the Caucasus, said.

He added that "the EBRD is already providing critical tools and advisory support to its clients to enhance climate governance, climate-risk management and disclosures. We believe that Chapter Zero Ukraine & Caucasus will encourage informed debate among business leaders in the region on how to drive long-term decarbonisation and ensure businesses remain resilient when facing future economic change."

Strategic work with climate challenges at the level of corporate strategies within the framework of Chapter Zero Ukraine & Caucasus will enable Ukrainian and regional companies to overcome the challenges posed by the war and the international integration of business.

"As an educational institution, KSE strives to provide our clients with the most up-to-date knowledge and skills. Addressing climate change is critical for the development of the global economy and we believe there is no time to waste in integrating it into corporate governance processes. We are pleased to lead this initiative and support Ukrainian and regional companies, especially in the context of Russia’s war on Ukraine," Natalia Shapoval, head of the KSE Institute, said.