Assessment of costs on the adaptation to climate change in Ukraine

The paper focuses on the main adaptation measures financed in Ukraine at the expense of state and regional budgets region-wise during 2016-2018 within the framework of environmental activities. The source of data was "Environmental passports of the regions". The paper finds that during 2016-2018 the most funded items of expenditure were the construction and repair of sewerage, clearing of riverbeds, repair of water protection structures and wastewater treatment. A significant gap in the cost of measures of an adaptive nature between the regions is established. Expenditures in the Transcarpathian region, which most suffers from floods, were the lowest: they were 46 times lower than expenditures on adaptation measures in the Dnipropetrovsk region, which actively allocated funds for clearing riverbeds and strengthening the river banks. During 2016-2018, almost USD 110 million were proved to be spent on adaptation measures in Ukraine. The main source of funds were local budgets, in particular regional environmental funds. Green bonds are determined to become a promising source of funding for adaptation measures in Ukraine. For the first time, the amount of funds required for adaptation measures in Ukraine until 2050 has been partially estimated. It is proved that the only international funds that can provide funding for adaptation measures in Ukraine in late 2020, is the Global Environmental Facility.