KYIV, Nov 3 – The Ministry of Energy is initiating the creation of a decarbonization fund financed by a portion of the emission tax, which is now being channeled into the general budget fund, and hopes for parliamentary support for this initiative, the ministry said on Monday.

According to the report, the fund's money will be sent exclusively to projects aimed at reducing CO2 emissions and having energy-efficient, environmental and social effects.

Among such projects are the eco-modernization of generating enterprises, heating networks, water utilities, street lighting, cheaper disposal of household waste, the development of eco-transport and the promotion of the use of electric vehicles.