The Ministry of Economy and Environment of Ukraine presented the draft Law of Ukraine “On the Taxonomy of Sustainable Economic Activities and Sustainable Investments”. This is an important step towards the formation of a modern system of sustainable financing in Ukraine and the harmonization of national legislation with European approaches.
The event took place on July 17 and brought together representatives of business, professional associations, the expert community and the public.
The document introduces uniform rules for classifying economic activities according to the criteria of environmental sustainability. This will allow the state, business, banks and investors to use unified approaches to assessing investment projects, increase the transparency of the financial market and help prevent “greenwashing” practices (unfounded positioning of activities as environmentally sustainable).
“The future recovery of Ukraine will require significant investments in the energy, industry, transport and infrastructure sectors. Today we must form a system for assessing investment projects that is compatible with European approaches. This will create clear rules for investors and help attract financing for sustainable development projects,” said Deputy Minister Oleksandr Krasnolutsky.
The draft law was developed by the Ministry of Economy and Environment of Ukraine with the support of the Green Transition Office in cooperation with the Ministry of Finance of Ukraine, the National Bank of Ukraine, the National Securities and Stock Market Commission, as well as international partners. Its adoption will contribute to attracting sustainable investments necessary for the country’s post-war recovery and Ukraine’s integration into the internal market of the European Union.
The draft law and its explanatory note have been published for public discussion on the official website of the ministry in the section “Discussion of draft documents”. (Economy Ministry)