Hanna Zamazieieva: "Ukraine’s recovery is already underway — under shelling, in devastated cities, driven by the extraordinary efforts of our communities and partners. And this recovery must be not only swift, but also modern, energy-efficient, and sustai

This vision laid the foundation for the discussion held in Rome, dedicated to investments in cross-sectoral energy efficiency projects. The event was organized by the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE) in cooperation with DGA-Albright Stonebridge Group and Comin & Partners, with the support of SPP Development Ukraine and UNDP Ukraine.

The recovery process is often perceived as the final stage — after victory, after stabilization. However, reality dictates otherwise. As rightly noted by U.S. Ambassador to Ukraine, Julie Davis, during the event: reconstruction is already underway today — in frontline regions, in communities fighting for survival. Ukrainians need basic services, energy supply, and safe housing, even amid war.

That’s why SAEE is already establishing platforms to attract investments that allow for simultaneous infrastructure modernization and strengthening of the country’s resilience.

In Rome, SAEE Head Hanna Zamazieieva presented a key national tool for attracting energy efficiency investments — the Ukrainian Decarbonization Fund, Joint Stock Company.

“Investments in energy efficiency in Ukraine represent a huge market with short payback periods — from two to five years — and clearly measurable outcomes. In 2024, the Fund successfully accumulated a record UAH 2 billion through the CO₂ emissions tax. Projections show the Fund will receive an additional UAH 1.75 billion annually in both 2025 and 2026. These resources are already contributing to the modernization of the economy and strengthening Ukraine’s energy security,” highlighted Hanna Zamazieieva.

Today, the Fund serves as an effective platform for accumulating, distributing, and professionally administering resources in the fields of energy efficiency and decarbonization.

The implemented financial mechanism ensures transparency and predictability thanks to clear standards for project selection, monitoring, and verification. Each project undergoes a comprehensive technical and financial evaluation, energy audit, and business model analysis. This approach helps build a high-quality portfolio of initiatives that gains the trust of financial partners and ensures real impact.

Government agencies, international organizations, and private companies can contribute to the Fund through concessional financing, interest rate compensation, grants, and co-financing of capital expenditures, in line with their own priorities and policies.

Moreover, the Fund opens up investment opportunities with access to a large market for energy-efficient equipment and favorable loan programs through partner institutions.

“In times of war, it is crucial not only to talk about recovery but to act — every day, in every city, on every project, and through every partnership. I would especially like to thank U.S. Ambassador Julie Davis for the continued support to Ukraine. This assistance allows us not only to survive today, but to lay the foundation for long-term recovery and sustainable development,” SAEE concluded.

We extend our gratitude to everyone who took part in the discussion in Rome. Together, we are shaping the architecture of a new Ukraine — energy-efficient, modern, and independent.