Minister of Environmental Protection and Natural Resources Roman Abramovsky stated this during the Sustainable Development Day held on the platform of EBA Industrial Ecology and Sustainable Development Committee, an Ukrinform correspondent reported.
"The ministry is working on the creation of an emissions trading system. The first step is to launch a system for monitoring reporting and verification, which is expected in early 2021," Abramovsky said.
He reminded that the Verkhovna Rada of Ukraine passed a law on the principles of monitoring, reporting and verification of greenhouse gas emissions in 2019, but only in September 2020 all necessary resolutions were adopted so that this law could be implemented.
In September 2020, the Cabinet of Ministers approved three resolutions on the creation of mechanisms for introducing a system for monitoring, reporting and verification of greenhouse gas emissions. The documents are aimed at fulfilling Ukraine’s obligations under the Association Agreement with the European Union, as well as ensuring the launch in the country of a market for quotas for greenhouse gas emissions. The greenhouse market is expected to become an alternative to the environmental tax on carbon emissions. Experts believe that quota trading is a good tool to stimulate environmental modernization of enterprises as compared with the environmental tax.
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