The President of Ukraine Volodymyr Zelenskyi signed the law, which provides for changes to the Budget Code of Ukraine and the introduction of the State Fund for Decarbonization and Energy-Efficient Transformation.

The corresponding draft law No. 8433 was developed by people's deputies with the participation of the team of the Ministry of Recovery and State Energy Efficiency Agency and approved by the Parliament on April 11 of this year.

The decision taken by the Parliament and the President is a significant step that confirms that Ukraine is following the global trend of decarbonization, no matter what.

Finally, for the first time in many years, Ukraine is implementing the European "polluter pays" principle, as stipulated by the EU Regulation on Governance of the Energy Union and Climate Action. This means that funds from the tax on CO2 emissions will be directed specifically to energy-efficient goals.

"The law gives a green light to the creation of a special fund in Ukraine, which will become a reliable and a permanent source of financing numerous energy efficiency projects and programs in various sectors of the economy," explained Anna Zamazeeva.

"I thank the President, the Parliament and everyone who joined and supported the creation of the fund at last. As soon as the law was adopted, we, together with the team of the Ministry of Recovery led by O. Kubrakov, began to develop mechanisms for the use of funds and the creation of financial instruments that could stimulate both decarbonization and energy efficiency," said Anna Zamazeeva.

Thanks to the fund the State Energy Efficiency Agency, as the main energy manager of the country, will implement state policy with the real introduction of effective tools. It is planned to implement various mechanisms that exist in the world: from "green" bonds, ESCO projects, "green" lending to factoring and leasing.

The main tasks of the fund:

• support of state programs of energy efficiency, alternative energy sources and decarbonization;
• attraction of international credit funds and grants for the implementation of investment projects;
• reliable payback and return of foreign investments and financial obligations.

"After creating and replenishing the fund, we will be able to implement many programs that will allow the population, businesses and local authorities to become energy efficient and energy independent.

The funds saved by the community can be directed to its reconstruction, social well-being, and by enterprises - to their development and increasing their competitiveness", concluded Anna Zamazeeva.