Key Takeaways from the Pre-URC Event in Rome

In the lead-up to URC2025, the UN Global Compact Ukraine, in partnership with the FCDO, UK, and with support from GE Vernova, MHP SE, Syngenta Ukraine, ALTELAW, and UN Global Compact Italy, hosted a roundtable “Building Trust and Value: Investing in Clean Energy and Security.”

The goal of the event was to bring together government leaders, international partners, financial institutions, and businesses to discuss solutions that would accelerate Ukraine’s energy sector recovery, based on transparency, integrity, and integration into European markets.

This meeting was part of the Ukrainian Energy Initiative by the UN Global Compact Ukraine.

Participants included experts from GE Vernova, Goldbeck Solar, MHP Verdant, DTEK, Syngenta Ukraine, Basel Institute on Governance, TheCityUK, ERG SpA, B4NZ, ALTELAW, Swisscontact, Eurac Research, and the UN Global Compact Network Italy.

A shared message throughout the event is that transparency, anti-corruption safeguards, and a predictable regulatory environment are essential for unlocking private sector investment.

During the event, the establishment of a Working Group on Hydrogen Reform under the Ukraine Energy Initiative (UEI) was announced.

Klavdiia Yatsyshyna, Head of the Ukraine Energy Initiative, stated that the group’s goal will be to develop regulatory, institutional, and economic solutions for implementing hydrogen reform in Ukraine, taking into account national legislation, EU standards and policies, as well as best practices from OECD member states.

The initiative to form the Working Group was led by the law firm Juscutum, with Sayenko Kharenko, recent participants in the UEI, becoming the first signatories at the Pre-URC event.

The session was moderated by Tetiana Sakharuk, Executive Director of the UNGC Ukraine and Chair of the Regional Network Council for Eastern Europe and Central Asia at the UN Global Compact. Tetiana spoke about UNGC Ukraine’s anti-corruption work, including its efforts to mainstream anti-corruption and contribute analytical materials to support the EU accession negotiations that began earlier this year.

Through joint work with the Ministry of Energy, the Ministry of Environmental Protection and Natural Resources of Ukraine, and UNGC Ukraine member companies, the team developed materials that were recognized as one of the most thorough and systematic in the entire process.

Tetiana also presented the interactive “Anti-Corruption” video course launched by UNGC Ukraine, which has already reached over 100,000 employees and is soon to be translated into English with support from DTEK:

“This is our version of soft diplomacy: helping companies establish shared standards of integrity and publicly demonstrate their position in the fight against corruption. But leadership buy-in is not enough — real impact requires full team engagement. That’s why investing in employee training is key to building business transparency and, ultimately, investor trust.”

Wolfram Sparber, Head of the Institute for Renewable Energy, Eurac Research, highlighted Ukraine’s vast potential for low-carbon energy development, particularly in wind, solar, biomass, and waste-to-energy.

“So the future renewable energy system is widely interconnected between the single sector — the heat sector, the mobility sector, the industry sector. This approach strengthens resilience, leverages local resources, reduces fossil fuel imports, and creates jobs.”

He emphasized that international investment will be critical to achieving this vision, which in turn depends on trust and shared values.

Lewis Haffey, Senior Investment Manager at Goldbeck Solar, which entered the Ukrainian market approximately two years ago, spoke about their goal to develop a 500 MW solar project portfolio over the next three to five years.

He shared that the company’s confidence to invest in Ukraine during wartime was grounded in solid guarantees and support from international partners, including the EBRD.

Marco Biersinger, Head of Business Development, M&A, DTEK, spoke about the factors that make energy projects viable in Ukraine:

“When we speak to investors, the core questions are always: Do we understand the risks? Do we know how this works in practice? Capital insurance and government guarantees often become the real triggers behind major projects. But distributed generation still faces barriers, especially the high cost of financing for SMEs and communities.”

That’s why DTEK launched the RISE program with Octopus Energy, aiming to attract EUR 100 million to finance 100 local energy projects over the next three years — and reduce borrowing costs from the current 20–30% to more affordable levels.

Adomas Audickas, Deputy Chairman, MHP’s Board of Directors & CEO, MHP Verdant, emphasized that the company is actively investing in renewable energy and energy-efficient solutions. According to him, the key challenge is not regulation or politics, but limited access to capital and the lack of financial incentives:

“It’s not just about interest rates. Many European countries have subsidies that cover caps of 30% to 40%. That opens the door to investment. Ukraine needs a level playing field to compete truly.”

Kostiantyn Ivaniuk, CP Marketing Head, Syngenta Ukraine, explained how satellite data and AI used in the Cropwise platform make it possible to compare the condition of farmland in Ukraine before and after the full-scale invasion and collect unique evidence of damage.

Since 2017, Syngenta has collected data from Ukrainian fields to train its AI models. The platform can automatically define field boundaries, identify crops, and forecast yields based on historical data and future trends, allowing real-time assessments of war-related agricultural losses.

​​This solution has the potential to be scaled up to other sectors of the economy. It can provide a transparent and objective approach to recording losses and fair compensation in the future.

Heather Buchanan, CEO & Co-Founder of B4NZ, remarked that Ukraine is still often perceived as a “high-risk zone,” a label that can be rooted in outdated assumptions. In reality, modern technology and open data systems are already in place, although they are not always visible to the outside world.

That’s why it’s essential to bring challenges to the surface — not to hide them, but to make them the subject of open conversation. That builds investor confidence.

Alevtyna Serdiuk, Relationship Manager Eastern Europe and Ukraine, Swisscontact, shared how early engagement, transparency, and clear outcomes help build trust between international donors and Ukrainian institutions:

“For us, early stakeholder involvement is essential. We define project goals together, assess needs, involve the community, and ask: what do they really want? Transparency is also key. We share data and outcomes not only with donors in Switzerland but with all our partners. We report regularly — it’s not just a bureaucratic checkbox.”

Juhani Grossmann, Director, Green Corruption Senior Advisor, CEE Basel Institute on Governance, focused on Ukraine’s Critical Raw Materials (CRM) sector, which he sees as holding significant potential, yet remaining highly vulnerable to corruption.

Juhani Grossmann presented the findings of the Green Corruption, outlining several key challenges that must be addressed before the sector can fully realize its potential. These include an inefficient licensing system, a lack of transparency in mineral reserve data, and an underdeveloped regulatory framework.

Despite these barriers, he emphasized the sector’s promise and stressed that unlocking its potential will require open data, streamlined regulation, fair licensing practices, and coordinated cross-sector collaboration.

Olga Savchenko, Senior Partner, ALTELAW, outlined the key changes in Ukraine’s legal framework that facilitate investment in the renewable energy sector.

The speaker also highlighted the positive dynamics of reforms in Ukraine’s energy sector despite the ongoing war. In particular, she emphasized the simplification of procedures for investing in renewable energy and energy efficiency, with a focus on the development of energy storage systems and combined heat and power (CHP) plants.

Olga Savchenko stressed that the state is opening up new opportunities, while businesses have real tools to influence policy. Ukraine, although facing challenges, is advancing faster than many expected.

Daniela Bernacchi, Executive Director of the UN Global Compact Network Italy, discussed the growing interest of Italian energy companies in Ukraine and highlighted the importance of risk guarantees, institutional coordination, and matchmaking platforms in converting this interest into sustainable investments. 

She noted that Italy’s public agencies (SACE, SIMEST, CDP) have already rolled out support programs combining concessional financing, insurance, and public-private partnerships.

Gianluca Gramegna, Head of ESG at ERG SpA, shared his perspective on what is essential for private investors considering Ukraine as a potential investment destination.

The expert highlighted the importance of simplifying permitting procedures, developing infrastructure (specifically modernizing the grid to integrate new capacities), having qualified personnel, and establishing an effective anti-corruption system, as without these conditions, it is impossible to build either a reliable business model or long-term partnerships.

Gianluca Gramegna also spoke about how ERG SpA, together with partners, is supporting a kindergarten in Okhtyrka, Sumy Oblast, which has been subjected to Russian shelling. The company designed a system to cover the facility’s 24-hour energy needs. This kindergarten serves more than 160 children, including children with disabilities, and employs over 60 staff members.

Anna Rogers, Director, International Development, TheCityUK, shared her perspective on how professional financial services can support sustainable recovery and attract investment to Ukraine.

Since the first day of the full-scale invasion, TheCityUK has been working with the Ukrainian government, regulators, and the private sector to create the conditions for transparent investment across critical sectors, including energy, necessary raw materials, and agriculture.

Anna Rogers noted that international financial institutions (such as the World Bank, IFC, and others) are increasingly aligning with the needs of the private sector, offering not only loans but also guarantees — an approach that can more effectively stimulate investment.

Roger Martella, Chief Corporate Officer and Chief Sustainability Officer, GE Vernova,  sees the development of Ukraine’s energy sector in three key phases:

• Emergency support phase (ensuring electricity supply during wartime conditions);
• Rebuilding phase (modernizing the grid to meet electrification needs while adhering to sustainability principles);
• Economic development phase (transforming Ukraine into a manufacturer of power equipment, training engineers and workforce, and creating new economic opportunities for export and growth).
  

“Conversations like today are incredibly critical — but they must continue beyond this room. If we want to act with the urgency the situation demands, we need to start planning now.”

We’re convinced that transparency, integrity, and alignment with European standards are the foundation of Ukraine’s new energy future. It’s on these principles that we’re building our resilient and secure tomorrow.

Thank you to all our expert speakers for the open dialogue and collaborative work. 

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