For the first time in history, Ukraine has its own pavilion at the annual UN climate conference “where we want to tell the story of today’s Ukraine, in war, and future Ukraine, [a] clean technological new economy”, Maxim Timchenko, CEO of DTEK, Ukraine’s largest private energy investor, tells Energy Monitor at COP27.
He is confident DTEK will still meet its 2040 climate neutrality goal, with the war and its economic repercussions providing an opportunity to “start from scratch” in some industries and create, for example, a “clean green steel” business.
“I think we have all grounds to say that by 2030, by 2035, we can have 100% clean energy produced in the country,” Timchenko said in Sharm El Sheikh. “We will not change our goal to be climate neutral by 2040.”
Timchenko is equally optimistic about the prospects for foreign direct investment (FDI). “Even now we have quite a lot of talks with potential partners to build and invest in Ukraine,” he says. There are already talks under way to develop “political military risk insurance” for investments in Ukraine, he adds. “I think that [the] new Ukraine can be built with a very important role for the private sector.”
Climate action beyond DTEK at COP27:
Reporter Nour Ghantous (week one) and senior writer Dave Keating (week two) are reporting from COP27 in Sharm El Sheikh, Egypt, on behalf of Energy Monitor and our parent company, GlobalData. They are providing the data-led analysis you have come to expect from Energy Monitor but also something new: video interviews with business leaders, policymakers and campaigners. We encourage you to return often to our Energy Monitor home page for updates from the conference. You can also sign up for our free biweekly newsletter here.
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Other recent COP27 coverage includes:
COP27: How countries compare on carbon emissions and pledges, by Nick Ferris (7 November)
Opinion: COP27 comes after a year of unfulfilled COP26 promises, by Nick Ferris (11 November)
COP27: Mattie Yeta, CGI’s chief sustainability officer, on the first-ever ‘metaverse COP’, by Nour Ghantous (7 November)
COP27: International Labour Organization wants to see a just transition “actually implemented”, by Nour Ghantous (9 November)
COP27: Alpine Group proffers recycled textiles to combat climate, by Nour Ghantous (10 November)
COP27: Data science can strengthen climate action, by Nour Ghantous (11 November)
Why the financial odds are stacked against developing countries, by Isabeau van Halm and Polly Bindman (9 November)
COP27 take note: Climate tech funding has soared in 2022, by Eric Johansson (9 November)
Which countries are already at net zero?, by Nick Ferris (25 October)
COP27: Manage your expectations, by Nour Ghantous (21 September)