Shades of Green: Investing in Ukraine’s Recovery

by WWF and Ukrainian Climate Office

To leverage the reconstruction process as a pathway to EU membership, Ukraine must adopt a holistic understanding of “green”. By aspiring to become the first nature-positive and net-zero powerhouse in Europe, the country should establish a governance framework that encourages sustainable investments from both the public and private sectors. Responding to evolving societal expectations, aligning with responsible and sustainable practices not only safeguards investor reputation but also enhances the value of their investments. Recent trends emphasize that companies focusing on sustainability exhibit greater efficiency, innovation, and resilience, reflecting their financial performance and shareholder value positively.

Facilitating green investments is crucial for Ukraine’s recovery. In addition to mitigating economic risks, the presence of an essential green recovery strategy that tackles climate and biodiversity concerns is imperative. Success hinges on a comprehensive, cross-sectoral, and cross-ministerial approach. Establishing a framework for green investments must carefully consider the financial sensitivities of profit-oriented companies to navigate the threat of greenwashing.

This briefing paper presents pivotal recommendations intended to direct Ukraine towards a prosperous green recovery. It originates from an online discussion conducted in November 2023, organized by the Ukraine Climate Office, WWF-CEE and WWF Ukraine, with the aim of stimulating discourse on the term “green” and its implications.