NSSMC, together with its partners, discussed practical steps for launching green bonds in Ukraine

The National Securities and Stock Market Commission held a working meeting with representatives of international organizations and experts to discuss the development of the green bond market in Ukraine.

The event was attended by Oleksii Semeniuk, Chairman of the National Securities and Stock Market Commission (NSSMC), and Maksym Libanov, NSSMC Commissioner. Representatives from the PROGRESS (GIZ) and EU4ClimateResilience projects, the Organization for Economic Cooperation and Development (OECD), and the Embassy of Germany in Ukraine also joined the discussion.

During the meeting, participants discussed the current state of green finance, the market’s potential, and next steps for launching this instrument in Ukraine.

Oleksii Semeniuk, NSSMC Chairman, noted that Ukraine is currently in a phase of economic recovery and transformation, where the development of green energy is one of the key priorities.

“We are seeing genuine interest from investors in new financial instruments, particularly green bonds. At the same time, there is currently virtually no project financing available from banks in Ukraine for such initiatives. That is why it is important to establish a simple and transparent mechanism for raising funds through capital markets,” he noted.

Maksym Libanov, NSSMC Commissioner, emphasized that the legal framework for launching the instrument is already in place, but the lack of practical case studies remains a key challenge.

“Ukraine already has necessary legal preconditions in place for issuing green bonds. In particular, a separate regulatory regime is established for this instrument, and requirements for information disclosure and verification rules have been defined. At the same time, there are currently no practical cases, and this is the key challenge for the market. For its part, the Commission is ready to support market participants at all stages of preparation for the issuance of such bonds,” he noted.

According to representatives of international partners, Ukraine has already made significant progress in the development of green finance. In particular, as part of the PROGRESS project, an analytical framework is established, approaches to green taxonomy are developed, and pilot financial instruments for the agricultural sector are launched.

At the same time, the meeting participants noted that despite the existence of a regulatory framework and interest from businesses and investors, there are currently no practical examples of green bond issuances in Ukraine.

During the meeting, special attention was given to potential projects that could be funded through this instrument, particularly in the fields of renewable energy and the agricultural sector.

At the end of the meeting, the participants emphasized the need to move toward practical implementation and further collaboration with the business community to launch the first green bond issuances in Ukraine.

“It is important that this discussion move into the practical realm. The best outcome is an implemented case,” concluded Oleksii Semeniuk.