New study: Nordic climate solutions have large potential in Ukraine
A new international study, released today in Kiev, shows that scaling up proven Nordic climate solutions in Ukraine would reduce emissions significantly, helping the country meet its Paris Agreement commitments. At the same time, the solutions would provide many other benefits, such as improving energy independence and providing jobs in different regions.
The Nordic Green to Scale study analysed scaling up ten Nordic climate solutions ranging from wind power to energy efficiency in buildings and manure management in farming. Put together, these solutions could reduce greenhouse gas emissions in Ukraine by 64 million tonnes or 9% of the projected 2030 levels. The reduction would be larger than the total emissions of Portugal today.
The study also analysed the costs, savings and co-benefits of applying these solutions. While some solutions come at a net cost, some would provide significant net savings, making investing in them as a whole economically profitable. In addition, the study looked at the circumstances for implementing the solutions specific to Ukraine.
“The study shows that there is a large potential to reduce emissions in Ukraine by simply scaling up existing, proven and attractive climate solutions – and only to the extent that some countries have done already. Implementing these solutions would provide many benefits to the Ukrainian society, including cutting harmful air pollution in cities and reducing dependence on energy imports”, comments Senior Advisor Oras Tynkkynen from the Finnish Innovation Fund Sitra.
The results were released today for the first time in Ukraine in a high-profile seminar in Kiev. Speakers included Mr Taras Tokarskiy, Deputy Minister of Regional Development, Construction, Housing and Utilities of Ukraine on the issue of European Integration and Mr Magnus Rystedt, Managing Director of Nordic Environmental Finance Corporation (NEFCO). The Ambassadors of Finland and Sweden Mr Juha Virtanen and Mr Martin Hagström, respectively, opened the event, which was organised by NEFCO, with support from Sitra and the embassies.
Magnus Rystedt from NEFCO mentioned that Ukraine is already on a good path:
“Many municipalities have started to test and implement projects to decrease energy consumption, supported by the Nordic countries and EU. The new report confirms there is a large potential for further up-scaling of new, energy-related solutions in the whole country.”
The study Nordic Green to Scale for countries – Unlocking the potential of climate solutions in the Baltics, Poland and Ukraine was financed by the Nordic Council of Ministers and co-ordinated by Sitra. The Stockholm Environment Institute Tallinn Centre carried out the analysis.
New programmes for financing projects related to renewable energy, energy-efficiency and district heating, funded by Finland and Sweden, were also presented during the event.
See the full conference programme.
Magnus Rystedt, Managing Director, NEFCO, firstname.lastname @ nefco.fi, tel: +358 10 6180 630
Oras Tynkkynen, Senior Advisor, Sitra, firstname.lastname @ sitra.fi, tel +358 50 5121584
Nordic Environment Finance Corporation NEFCO is an international financial institution (IFI) established by the Nordic countries in 1990. All of NEFCO’s activities aim at generating positive environmental impact. NEFCO finances and implements projects related to climate change prevention and green growth investments across the world. NEFCO has financed more than 1,000 small and medium-sized, private and public projects across different sectors in 60 countries, with a strong focus on Eastern Europe, the Baltic Sea, and the Arctic and Barents regions. Headquarters is located in Helsinki, Finland and NEFCO also has an office in Kiev, Ukraine. Read more at www.nefco.org.
Sitra is a Finnish future fund that collaborates with partners from different sectors to research, trial and implement bold new ideas that shape the future. Our aim is a Finland that succeeds as a pioneer in sustainable wellbeing. Read more at www.sitra.fi/en.