“A modern energy company must embrace the international context of green economy and decarbonization policy, such as the EU Green Deal, and the strengthening of climate regulation of traditional energy businesses. In addition to its core business of energy production and supply, Naftogaz needs to step up efforts towards green transformation, modernization, and creating a green economy. Without a green business component and in the absence of ESG-strategies, it is difficult to attract investment for the development of any modern company," commented Ryabchyn.
In his new role, Ryabchyn will assist in the implementation of Naftogaz Group's corporate strategy, which is based on three business platforms: Gas Business, B2C/Utility, and Low Carbon Businesses.
His focus will be on establishing sustainable cooperation with respect to the development of low-carbon business and the EU Green Deal with public authorities, international organizations, government officials of the United States and EU member states, think tanks and the media.
Before joining Naftogaz, Oleksiy Ryabchyn was energy and EU Green deal advisor to the Deputy Prime Minister for European and Euro-Atlantic Integration, and a policy advisor to the Minister of Environment Protection and Natural Resources. He headed the parliamentary subcommittee on energy saving and energy efficiency. In addition, he represented Ukraine as a negotiator at the UN climate summit, worked in private business, and participated in the implementation of a number of international initiatives for low-carbon development. Oleksiy has also lectured at a number of Ukrainian and foreign universities.
He graduated from Donetsk National University and the University of Sussex (UK), and has a PhD in economics.
Environmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. Environmental criteria consider how a company performs as a steward of nature. Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights.
The European Green Deal is a set of policy initiatives by the European Commission with the overarching aim of making Europe climate neutral in 2050, minimize the contributions of hydrocarbon fuel to climate change, protect the health and well-being of citizens, support a green recovery.