The Opportunities and Challenges Arising out of Development in Climate Legislation

The Law of Ukraine “On Basic Principles of State Climate Policy” No. 3991-IX as of 8 October 2024 (the Climate Law of Ukraine) came into force on 30 October 2024. Simultaneously, this period is marked by the active development of legislative initiatives regarding the implementation of the European 4th Energy Package and coupling of the Ukrainian energy market with the EU (Draft Laws No. 12087 and No. 12087-1, as an alternative). It is worth noting that EU energy legislation is closely linked to climate goals and policies, as the energy sector has a significant impact on the climate and is an industry where changes will have a decisive impact on achieving European climate goals. This approach is also reflected in implementing the EU energy and climate acquis into Ukrainian legislation. Therefore, timely consideration of developments and changes in climate legislation is critical for the energy sector, and crucial for the entire business environment.