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Укр Ukrainian banks explore green financing instruments in cooperation with WWF
On July 24, 2025, the Association of Ukrainian Banks, in cooperation with WWF, organized a workshop on “Criteria, principles, and instruments of green and sustainable finance and their alignment with the EU taxonomy in Ukraine.” The event brought together more than 40 representatives of the banking sector from across the country.
The discussion focused on the importance of implementing ESG (Environmental, Social, Governance) standards in the financial activities of Ukrainian banks, especially in the context of Ukraine's integration into the European Union and the Ukraine Facility program — a new flexible EU financial assistance mechanism for the country's recovery.
The event was moderated by Ruslan Kostetsky, Head of Business Development and International Relations at the Association of Ukrainian Banks.
Vitaliy Romanchukevich, First Vice President of the AUB, addressed the participants with an introductory speech, noting: "The Association of Ukrainian Banks has already implemented several initiatives this year to educate banks on ESG (Environmental, Social, Governance). This is important for the present and the future. ESG is a less risky policy, business strategy, and development tactic in the market. Therefore, we must involve business in this direction."
Yaroslav Teleshun, Head of Policy and Advocacy at WWF-Ukraine, emphasized the role of banks as key intermediaries between European institutions and Ukrainian businesses and communities. He noted that without a proper understanding of the principles of green financing, Ukraine is missing out on opportunities to finance environmentally friendly projects. Yaroslav Teleshun also emphasized:
Yaroslav Teleshun «
“It is extremely important to focus efforts on raising awareness and capacity among representatives of Ukrainian financial institutions regarding the application of green finance principles, as well as on developing basic skills in this area among Ukrainian banking sector professionals.”
Among the speakers who shared their experiences, thoughts, and advice were international experts Vedran Kordic, EU Taxonomy Coordinator at the WWF European Office, and Olga Zhminko, Senior Expert on Green Financing at Umweltbundesamt, the Austrian Environment Agency. They shared their experience of implementing the EU taxonomy in other countries and highlighted the difficulties encountered along the way. According to the experts, despite the importance and urgent need for green financing, it is a long, difficult, and painstaking process.
The event was an important step towards adapting the Ukrainian financial system to European standards of sustainable development, helping to raise awareness among professionals about green financing and its key role in the country's recovery.
The workshop was funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) with support from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH as part of the International Climate Initiative (IKI) and co-financed by the European Union.
