The MCL group became a signatory of the Ukraine Energy Initiative

The MCL group became a signatory of the Ukraine Energy Initiative

After signing of relevant Declaration, the MCL group became a signatory of the Ukraine Energy Initiative founded by the UN Global Compact in Ukraine. The initiative aims to create a broad business coalition to accelerate the recovery of Ukraine’s energy sector and build back greener and a more modern power system that will be a reliable counterpart for the EU. The Initiative forms part of the Ukraine Business Compact – an initiative between the UK and Ukrainian governments to provide international businesses with a platform to channel support for Ukraine’s recovery.

The energy sector has always been the engine of the Ukrainian economy, and today it remains the basis of the country’s recovery and modernization. It is already quite obvious that rebuilding Ukraine will require a major effort on the part of all stakeholders, however brings an opportunity to restore a more ecological, more modern, more flexible and safer power system. That is why, both local and international Initiative’s members will work together to share and consolidate expertise, create new decarbonisation road maps for Ukraine and accelerate development of new projects and capital deployment, including the green one.

Key objectives of the Initiative:

1. Bring together a wide array of partners with deep and complementary sector expertise and experience in the energy sector tasked with modernising and decarbonising the energy sector of Ukraine.
2. Provide international partners will access and knowledge of local regulations, procedures and processes through a network of local partners, experts and official entities.
3. Advocate necessary changes in regulations in Ukraine to enable the full energy transition and acceptance of new clean technology business models.
4. Help align broader reconstruction and recovery efforts with decarbonisation roadmaps for households and industries through electrification and energy efficiency.
5. Calling upon the energy sector to reimagine and create entirely new sustainable industries, products, services, and supply chains in Ukraine, while in parallel helping transition existing systems.
6. Calling upon the participants to provide better access to equity and debt capital to accelerate the recovery of Ukrainian energy sector. Ensure sustainable investment projects receive adequate financing.

“I am proud of MCL’s membership of such a progressive initiative as the Ukraine Energy Initiative. Thereby, we once again demonstrate the desire and readiness of our team to work for a green and sustainable recovery of Ukraine’s energy sector as well as a climate-neutral future of Ukraine. Our country has a huge potential to become Europe’s energy hub thanks to a great RE resources, rare earth materials and a variety of power diversification options. A comprehensive recovery of the energy sector requires extensive cooperation between all stakeholders, from suppliers to the investment community and industry advisors. The MCL, in turn, is always open to cooperation and is ready to become a reliable local partner both for the national energy business and for international partners,” stated Mykola Gerasymenko, CEO of company.