ESG Reporting and Taxonomy: What the Office of Green Transition Plans for 2026-2027
Attracting investment for Ukraine's reconstruction depends not so much on specific government policies and strategies, but on whether the banking system can work with sustainable finance. This was the central point Andriy Kitura made last week at the National Bank of Ukraine's meeting with senior bank executives, where he outlined how the Office of Green Transition plans to support the Government on ESG regulation over the next two years.
He focused on two areas. The first concerns ESG reporting. In February 2026, amendments to the CSRD directive under Omnibus I took effect: the threshold for mandatory reporting was raised to 1,000 employees and EUR 450 million in turnover, and the first reporting period was moved to 2027, with submission in 2028. According to the Office of Green Transition's estimates, over 330 Ukrainian companies will fall under the new requirements, subject to the adoption of relevant legislation in Ukraine.
By the end of 2026, Ukraine needs to adopt amendments to the laws on accounting and auditing, which will establish a framework for sustainability reporting in line with EU requirements, as well as draft secondary legislation on the implementation of ESRS standards.
The second area concerns the EU Taxonomy: the Office of Green Transition team is working on secondary legislation and Cabinet of Ministers resolutions that will establish clear criteria for sustainable economic activity. By the end of 2026, a framework law on taxonomy must be adopted and draft secondary legislation developed, with all resolutions entering into force in 2027.
"For Ukraine's successful reconstruction, it is more important to have a banking system that knows how to work with sustainable finance than even the best strategy or policy. Attracting investment is always a long and complex process. Successful cases of bilateral agreements in this area are, as a rule, one-off events. But if the banking sector systematically works to expand access to external sustainable finance, we will be able to attract tens of billions, as Poland and other Central and Eastern European countries have done," said Andriy Kitura, Head of the Office of Green Transition.
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