Hanna Zamazeyeva: “The Decarbonization Fund of Ukraine is a transparent, accountable and effective financial instrument for the implementation of energy efficiency and climate projects in Ukraine.”
During the event Ukraine’s EU Accession: Energy and Climate, organized by Green Deal Ukraine, Head of the State Agency for Energy Efficiency and Efficiency, Hanna Zamazeyeva, presented the results of activities in the field of energy efficiency and decarbonization, in particular in the context of Ukraine’s accession to the EU. She also spoke about the main results of the work of the Decarbonization and Energy Efficiency Transformation Fund.
The “Fundamentals” cluster is a basic element of the negotiation process on Ukraine’s accession to the EU. It covers the fundamental principles on which the European Union is built: the rule of law, effective public administration, transparency, accountability and financial control.
The Head of the State Agency for Energy Efficiency and Efficiency emphasized: “The energy sector, energy efficiency and decarbonization are an important component of fulfilling the economic criteria for accession. According to the National Energy and Climate Action Plan until 2030, 57% of the planned measures have already been implemented in the “Energy Efficiency” area, and 38% in the “Decarbonization” area.”
Hanna Zamazeyeva paid special attention to the activities of the Decarbonization Fund, which demonstrates transparency, accountability and efficiency, which meets the principles of the “Fundamentals” cluster, and has become a stable financial instrument for supporting energy efficiency and climate projects in Ukraine.
“All applications for state support are submitted via a digital platform, and each project is assessed according to clearly defined efficiency and compliance criteria. The process includes technical expertise, financial analysis, energy audit and business model verification.
The Fund openly publishes information on implemented projects and achieved results, providing the public, international partners and investors with full access to verifying the effectiveness of the use of public funds,” emphasized Hanna Zamazeyeva.
During the first year of its operation, the Fund financed 54 projects in 11 regions of Ukraine for the amount of EUR 14.7 million. The expected emission reduction is 13.9 thousand tons of CO₂, and energy savings are 27,865 MWh.
The management structure of JSC "Decarbonization Fund of Ukraine" is built on the principles of corporate governance.
The structure includes the State Energy Efficiency Agency, the Supervisory Board and the Board, which ensures a clear division of powers and transparency of decision-making. The Supervisory Board includes independent experts and representatives of the state, forms strategic priorities, policy and monitors the compliance of the Fund's activities with state goals.м
The Fund actively cooperates with international partners - EBRD, UNIDO, UNDP, IRENA, which allows it to attract additional financing, implement international energy efficiency standards and provide technical support to projects.
As an example of successful international cooperation, Hanna Zamazeyeva reported on the agreements reached to attract over $1.25 million from UNIDO to finance energy efficiency projects, which are planned to be received by the end of this year.
“The next steps are the introduction of additional protection mechanisms for investors, in particular by providing guarantees, as well as the creation of a national system for assessing, monitoring and verifying greenhouse gas emission reductions,” noted Hanna Zamazeyeva.
Thanks to such initiatives, the Decarbonization Fund of Ukraine is becoming not only an effective financial instrument, but also an example of a modern, transparent and institutionally mature approach to implementing energy efficiency and climate neutrality policies in Ukraine.
During the event, Benoit Messnar, Head of the Economic and Social Policy Division of the European Commission’s Directorate-General for Energy (DG ENER), noted that the creation of the Decarbonization Fund of Ukraine is a promising instrument for financing energy efficiency measures and reducing CO₂ emissions. He emphasized that the implementation of such a mechanism will contribute to attracting international support and bring Ukraine closer to meeting European climate goals.
The State Agency for Energy Efficiency sincerely thanks the Green Deal Ukraine team for organizing the event and creating an important platform for discussing European integration processes in the field of energy and climate, as well as all international partners for their constant support for Ukraine in achieving common climate and energy efficiency goals.
Together with our partners, we are shaping a transparent, sustainable and energy-efficient Europe by implementing projects that bring Ukraine closer to European standards and values.
