A Green Investment Scheme is an investment fund based on the value of emission allowances allocated under the Kyoto Protocol. Ukraine had significant surplus of allowances. Potential buyers of these allowances would require safeguards that the revenues from this transaction would be effectively invested in low-carbon development of Ukraine. A Green Investment Scheme provides that safeguard.
The project aimed at assessing the various issues surrounding greening of Ukraine’s assigned amount to meet buyer’s requirements for trading on the international market. To provide recommendations to the Government of Ukraine on considerations and approaches for a potential transaction involving a sale of surplus allowances under the Kyoto Protocol and for implementing a scheme for greening of Assigned Amount Units. This would include a review of the proposal for trading from the Ministry of Environmental Protection of (MoE) Ukraine’s Climate Change Center (CCC).
The activities included:
- Assisting Ukraine to access this opportunity and manage its Kyoto assets,
- Peer review and comment on the practicality of Ukraine’s proposal,
- Examining the various issues surrounding international emission trading in Ukraine and particularly on issues surrounding buyer’s requirements to link trading to green investments,
- Proposing measures to address any shortcomings or alternative approaches for a potential transaction involving a sale of surplus allowances under the Kyoto Protocol
- Identifying key steps required to implement such a scheme
Jelmer Hoogzaad was an employee of Climate Focus at the time of this project
