How business can turn environmental and social risks into new financing opportunities?

On October 6, 2022, the second International Sustainability Forum was held in Ukraine.

It was discussed how Ukrainian business can turn the environmental and social risks associated with the war into new financing opportunities.

Andreas Beckmann, CEO of WWF in Central and Eastern Europe (WWF-CEE), noted

that he had experience working with the countries of Central and Eastern Europe when they were on their way to the European Union. Today, when Ukraine is rapidly on its way to the EU, WWF sees the importance of working with the private (corporate) sector and its role for the country, because joining the Union provides many opportunities for business development.
Юлія Кириченко, членкиня правління Центру політико-правових реформ, співголова Ради Реанімаційного пакета Реформ, додала:
«Раніше ефективне управління ризиками забезпечувало збільшення вартості капіталу, а зараз, в умовах повномасштабної війни, важко говорити про збільшення капіталу. Проте, можна окреслити потужну роль наглядових рад, яким варто реагувати на великі ризики, які існують і реагувати на них, давати рекомендації управлінцям»
Olena Maslyukivska, PhD, head of the ASDE Supervisory Board, professor at the National University of Kyiv-Mohyla Academy, coordinator of EU4Environment, added:
"From the first days, a part of society began to think about how to restore Ukraine in such a way as to create a favorable environment for life and business. After the victory, reconstruction will become the front for the "expert troops". There will be a temptation to rebuild quickly, but I pay attention to the recommendations of our international partners to first carefully plan and then rebuild. I call on business to comply with environmental legislation, especially conducting a proper environmental impact assessment. I strongly advise you to engage in self-education of yourself and your team on the topic of green restoration, in order to find your original niche in the rebuilt Ukraine,"

During the forum, small and medium-sized businesses were asked to pay attention to EU standards.

In particular, Julia Shevchuk, head of the representative office in Ukraine, and chief investment adviser of the Nordic Environment Finance Corporation (NEFCO) (Nefco in Ukraine) emphasized:
"Ukraine now has a unique chance to make a long-needed quantum leap — to move to EU standards. Our projects will be catalysts of green recovery. For example, we are already involved in this process — we were creating a "green recovery program." Its purpose is to finance municipal projects to restore destroyed critical infrastructure. We have already started a program for 10 municipalities, despite the war (repair of housing for IDPs)"

Among the speakers of the panel were: Jeroen Ketting, head of LifeLine Ukraine, Nazar Kupybida, financial director, OKKO , Andriy Bublyk, director of corporate relations and sustainable development of Coca-Cola HBC in Ukraine (Coca-Cola Ukraine), Armenia and Moldova.

You can watch the speeches of all speakers in the broadcast:

We thank the moderator of the panel - Tatjana Gerling, member of the board of ASDE, senior specialist in sustainable development of FMO - Dutch entrepreneurial development bank

Partners: Ukrsibbank BNP Paribas Group, and the United Nations Industrial Development Organization

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