Unlocking Climate Finance for Ukraine’s Green Recovery: Advancing High-Integrity Article 6 Partnerships

Ukraine has established a national regulatory framework for implementing market mechanisms under Article 6 of the Paris Agreement and is seeking to attract climate finance for recovery and development projects. For Ukraine, this mechanism is not only a means of fulfilling international climate commitments, but also a key component of post-war recovery, industrial modernisation, the development of renewable energy, nature-based solutions and strengthening energy security.

Article 6 partnerships can play an important role in identification of cost-effective and scalable projects that will support Ukraine’s green recovery, competitiveness and long-term climate transition towards the 2050 climate-neutrality goal. Ukraine is working on cooperative approaches with Japan and Switzerland and exploring the opportunities for expanding Article 6 cooperation building upon existing strong partnerships with Nordic countries, the United Kingdom and other countries.
Participants at the event will discuss the prospects for using Article 6 mechanisms in Ukraine and the requirements for high-integrity and cost-effective projects capable of attracting additional financing, as well as opportunities for cooperation with international financial institutions.

A key part of the event will be the signing of a Memorandum of Cooperation between the Ministry of Economy and Environment of Ukraine and Nefco (Nordic Environment Finance Corporation) to support the development and implementation of Article 6 projects in Ukraine. Nordic countries provide significant support to Ukraine in energy, waste management, and other sectors and strengthening cooperation will allow identification of high-integrity project opportunities and mobilization of additional climate finance to accelerate implementation of climate projects. The cooperation envisaged under this MoU will support the green recovery of Ukraine while fostering long-term partnerships between Nordic and Ukrainian stakeholders. Implementation of the MoU will be supported by the Green Transition Office, an independent advisory body under the Ministry of Economy and Environment of Ukraine, linking climate mitigation project identification with the ongoing work on sectoral decarbonization studies and development of a national carbon budget framework for Ukraine.