On April 11, 2023, the Verkhovna Rada of Ukraine approved draft law No. 8433, which provides for the creation of the State Fund for decarbonization and energy-efficient transformation.
The fund was created according to the European principle – “the polluter pays”, which, in accordance with the EU Regulation on climate action, provides for the targeting of environmental taxes on energy efficiency and decarbonization and is applied in 21 EU countries.
The funds that will be accumulated to the State Fund for decarbonization and energy-efficient transformation will be directed exclusively to the financing of energy efficiency programs and measures, namely:
- state target programs in the field of energy efficiency, use of renewable energy sources and alternative fuels, decarbonization;
- compensations, reduction in the price of loans and leasing obligations involved by individuals and legal entities for energy efficiency measures, energy service, “green” projects, reduction of CO2 emissions;
- fulfillment of debt obligations for borrowings received by the state for the implementation of investment projects in the field of energy efficiency, renewable energy, and decarbonization.
