Ukraine is taking control of greenhouse gas emissions to launch a CO2 quotas market

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The website of the Cabinet of Ministers of Ukraine reminded that the Law of Ukraine “On Principles of Monitoring, Reporting and Verification of Greenhouse Gas Emissions” will have come into force on January 1, 2021. According to the initiators of this law, this will allow Ukraine to trade in greenhouse gas emission quotas. 

“The current law actually creates the basis for the existence of the MRV system (monitoring, reporting and verification of emissions). This system will provide accurate information on greenhouse gas emissions from production facilities; ensure control over emissions, provide ability to limit them;  introduce a mandatory method of calculating greenhouse gas emissions for all installations from which these emissions are carried out”, – explained the head of the State Environmental Inspectorate Andrii Malovanyi.

According to the official, the adoption of this document is an important prerequisite for the implementation of measures to combat climate change, based on the experience of the European Union. This includes the introduction of a greenhouse gas emission allowance trading system. It is for its implementation that it is necessary to create a system of MRV, which is provided by law.

He also added that the State Environmental Inspectorate will be empowered to control emissions: “According to the law, the State Ecological Inspectorate also has a number of responsibilities – verification of data in emission reports, monitoring plans, etc. Within 3 months after the submission of such documents by officials of enterprises, the inspection may initiate an unscheduled inspection. During such verification, the accuracy of the information specified in the reports or plans shall be verified. ”

It should be remind, that illegal emissions of pollutants into the atmosphere and illegal discharges of pollutants into the country’s waterways were named by experts in a recent survey as one of the important threats to Ukraine’s fiscal security.

At the same time, according to the World Bank, Ukraine has improved its performance in the ranking of polluting countries in the world since 1992. For example, our industry emitted 15.5 million tons of pollutants at the time of independence, their number decreased to 2.58 million tons in 2017. There is no data for 2020.

Data from the World Bank website

Translated by Yuliia Sachuk

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