Ukraine cancels minimum price for carbon credits


The Cabinet of Ministers of Ukraine (CMU) has adopted the Resolution "On Ensuring the Performance of Ukraine's International Obligations under the UNFCCC and Kyoto Protocol" No. 392, dated 17 April 2008, which cancels its previous Resolution No. 27 that had set the minimum price requirement in January 2008.

The most crucial points of this Resolution are the following:

  • CMU has passed all Kyoto Protocol-related functions of the Ministry of Environmental Protection (MEP) to the National Environmental Investments Agency (NEIA);
  • Contracts for the sale of AAUs will be executed by NEIA pursuant to the decision of the CMU and consents from Ministry of Economy and Ministry of Finance;
  • MEP will transfer the National Registry of Emissions, National Cadastre and all related hardware and software, database materials and projects' data to NEIA in two weeks term;
  • National Registry of Emissions will be funded from the State Fund of Environmental Protection;
  • In addition to the existing Kyoto Protocol-related functions of the MEP, NEIA was also authorised to: - establish and ensure the functioning of the national system of emissions trading; - ensure carrying out the monitoring of AAUs, ERUs, CERs, RMUs; - consider, approve and finance green investments projects; - ensure, within its competence, accreditation of Independent Accredited Entities and Organisations.