17:22 04.10.2023

Ukraine needs to adopt law on emissions trading system next year to resolve issue of CBAM - Minister of Natural Resources

2 min read
Ukraine needs to adopt law on emissions trading system next year to resolve issue of CBAM - Minister of Natural Resources

Minister of Environmental Protection and Natural Resources Ruslan Strilets considers it necessary to adopt a law on the national emissions trading system (ETS) as early as next year in order to introduce it in 2025 and thus avoid obstacles to Ukrainian exports associated with the start of CBAM (Carbon Border Adjustment Mechanism) on January 1, 2026.

“If we create our own national ETS, which will fully comply with the European one, including the price for CO2 emissions, or integrate our ETS with the European one, then CBAM is absolutely not scary for us. Because we will already be in this ETS within its borders. Now those who want to supply products to us will pay. In fact, our task is to move the border of CBAM and find ourselves inside this project,” Strilets said in an exclusive interview with the Interfax-Ukraine agency.

“Therefore, today we are not talking about the introduction of CBAM or its postponement (for Ukraine). We are talking about titanic work that needs to be done quickly so that CBAM is not for us at all, but for those who will be exporters of goods to Ukraine," the minister emphasized.

According to him, it is important that the law on ETS is in parliament next year.

“We, for our part, will accompany it so that the Verkhovna Rada accepts it, and this system is launched since 2025, even in pilot mode,” he added.

The minister noted that the introduction of the ETS in a test mode - in fact, let it be "traded", but without money - will make it possible to understand the bottlenecks where it is necessary to improve so that the European ETS is ready to connect the Ukrainian one.

At the same time, he emphasized that he had entrusted the team with a very ambitious task - to reduce the period of work on the creation of the national ETS.

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