Representatives of the business community discussed climate action and the role of business in shaping climate policy
One of the important areas is integration into global efforts for Ukraine is to combat climate change. These changes directly affect Ukrainian business, which gathered to get informed how the discussions and agreements at the United Nations Conference of the Parties (CoP) on Climate Change affects businesses. In addition, representatives of various sectors shared their own examples of successful climate action.
Business must become the driving force behind all processes related to climate change – this was the key message of an online information event on climate action for business representatives.
Despite the challenges posed by Russia’s full-scale invasion, Ukraine is accelerating its movement towards EU membership. One of the important areas is integration into global efforts to combat climate change. These changes directly affect Ukrainian business, which gathered to get informed how the discussions and agreements at the United Nations Conference of the Parties (CoP) on Climate Change affects businesses. In addition, representatives of various sectors shared their own examples of successful climate action.
“Business plays a vital role in climate change and climate mitigation by implementing innovative solutions, influencing policy making, and new standards implementation. Business investment in the environment will ensure long-term economic sustainability and new markets for services. That is why business should become the engine of climate action in Ukraine,” said Deputy Minister of the Ministry of Environment Viktoriia Kyreieiva in her welcoming speech.
During the event, the participants discussed the need for emission reductions, climate policy, international climate negotiations, and how and why business is involved in them. The participants emphasized the importance of business involvement in climate action to ensure that climate policy is implemented in a way that is acceptable to business and given the critical role of business in tackling climate change. According to Arvid Tuerkner, Managing Director for Ukraine and Moldova, European Bank for Reconstruction and Development (EBRD), “corporate climate governance, development of transition plans and consideration of transition risks will help to change business models and increase the resilience of Ukrainian businesses.”
The share of global emissions covered by climate policy has grown rapidly and will continue to grow in the future, and businesses will be involved in its development and, most importantly, will implement it, determining the effectiveness of measures, so engaging the private sector is crucial.
“Since the adoption of the Paris Agreement, the business landscape has seen significant changes in the direction of sustainability. The move to carbon neutrality is making it essential for businesses to stay informed, to be able to assess and mitigate risks and achieve resilience,” summarized Julia Jesson, component leader of the Capacities for Climate Action/UCO project, GIZ.
The event was jointly organized by the Ministry of Environmental Protection and Natural Resources of Ukraine, Ukrainian Climate Office under the Capacities for Climate Action (C4CA) project in cooperation with the “Chapter Zero Ukraine & Caucasus” Initiative. The Capacities for Climate Action (C4CA) project is implemented by GIZ on behalf of the German Federal Ministry for Economic Affairs and Climate Action (BMWK) within the framework of the International Climate Initiative (IKI) and co-financed by the European Union.