UKRGASBANK participated in The Global Forum on Climate Finance Innovate4Climate

On May 22-24, 2018 UKRGASBANK participated in The Global Forum on Climate Finance Innovate4Climate in Frankfurt, Germany, where Ukrgasbank CEO Kyrylo Shevchenko presented the results and plans of the ECO-bank operation in Ukraine.

The Global Forum on Climate Finance Innovate4Climate has been organized by the International Finance Corporation (IFC), the World Bank Group, and became a platform for discussion of opportunities to fund investments in the climate management. World finance, business, technology and political leaders participated in the Forum.

Ukrgasbank CEO presented the main achievements of the Bank in financing green projects, told about the cooperation with IFC and shared the ambitious plans of the financial institution.

"Clean energy projects financed by our Bank allow Ukraine to save 416 million cubic meters of gas annually and reduce carbon emissions by 884 thousand tons, which is equivalent of taking 390 thousands cars of the  Ukrainian roads", Kyrylo Shevchenko said.

With the support of IFC for a short period of time, UKRGASBANK financed 334 "green" projects for a total amount of about 406 million euros, including 95 projects in the field of renewable energy with a total capacity of 491 MW.

Kyrylo Shevchenko also announced that UKRGASBANK joined the Carbon Pricing Leadership Coalition (CPLC) and became the first partner of the Coalition in Ukraine. "We are confident that carbon pricing is the most effective way to reduce carbon emissions and to encourage investments in sustainable infrastructure and low-carbon production. As a financial institution, we plan to increase financing of low carbon projects. In addition, we have an excellent opportunity to promote low-carbon innovation ideas among private sector companies, banks and governmental institutions in order to strengthen carbon pricing policies and develop indicators for assessing climate risks", said UKRGASBANK CEO.