THE VOLUNTARY CARBON CREDIT MARKET AS AN INSTRUMENT OF CLIMATE FINANCING FOR AGRICULTURAL ENTERPRISES IN UKRAINE
DOI:
https://doi.org/10.32782/2413-9971/2026-60-4Keywords:
voluntary carbon market, VCM, climate finance, agricultural enterprises, Ukraine, carbon farming, decarbonization, greenhouse gases, MRVAbstract
The accelerating climate agenda, the expansion of decarbonization requirements, and the growing demand for non-budgetary sources of green investment intensify scholarly and practical interest in the voluntary carbon credit market as a potential instrument of climate finance. This issue is particularly significant for Ukraine, where agriculture combines substantial mitigation and carbon sequestration potential with a need for additional sources of climate finance. Within this context, the article addresses the voluntary carbon credit market not merely as an environmental mechanism, but as a potential instrument of climate finance for the decarbonization of agricultural enterprises of Ukraine. The study focuses on the relationship between voluntary carbon credits and climate finance in the context of agricultural decarbonization, while also considering the sector-specific conditions that shape the feasibility of carbon-based instruments in agriculture. Special attention is devoted to methodological complexity and the difficulty of ensuring credible quantification, monitoring, reporting, and verification of climate effects in agriculture. The article also examines the institutional dimension of the problem, since the practical relevance of such instruments depends on the interaction between certification rules, project requirements, market architecture, investment incentives, and the broader regulatory environment. It also considers the practical relevance of carbon market mechanisms for agricultural enterprises in view of their financial interests and organizational capacities. Thus, the article concentrates on current trends in the voluntary carbon market and its agricultural segment, with particular attention to the Ukrainian context, the suitability of key certification standards for agricultural projects in Ukraine, the representation of Ukrainian projects in international registries, and the key barriers and preconditions for wider participation of agricultural enterprises in the voluntary carbon market as an instrument of climate financing for the agricultural sector of Ukraine.
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