Ukraine Develops Carbon Market to Address Environmental Damage from War
Ukraine is establishing a carbon market to address extensive environmental damage caused by the ongoing war, with 2.4 million hectares of agricultural land impacted and emissions estimated at 230 million tonnes of CO₂. The proposed emissions trading system, set to begin in 2026, aims to attract private investment for reforestation and renewable energy projects, potentially integrating initiatives like Rewilding Ukraine that seek to restore significant areas of land.
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Ukraine faces extensive environmental damage due to the ongoing war, with 2.4 million hectares of agricultural land affected by unexploded ordnance and significant emissions estimated at 230 million tonnes of CO₂. A carbon market is proposed to support postwar recovery, allowing companies to trade carbon credits to offset emissions.
The global compliance market was valued at $851 billion in 2021, while the voluntary market was $2 billion. A national carbon market could attract private investment for reforestation and renewable energy projects.
Ukraine’s parliament passed a law in 2024 to create an emissions trading system starting in 2026. Initiatives like Rewilding Ukraine aim to restore 13,500 hectares of land, potentially integrating into the carbon market.
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