DTEK CEO Maxim Timchenko partakes in the joint WEF & IEA Energy Action Group virtual meeting

DTEK CEO Maxim Timchenko took part in the Energy Action Group virtual meeting organized by the World Economic Forum and the International Energy Agency. The meeting convened industry leaders and top-level policy makers to discuss effective COVID government stimulus and policy measures from various regional perspectives.

The IEA presented Sustainable Recovery Plan for actions that can be taken over the next three years for boosting economic growth, creating jobs and building more resilient and cleaner energy systems. Three key pillars of the crisis recovery measures will be: RES development, modernization of grids and energy efficiency.

By integrating energy policies into government responses to the economic shock caused by the Covid-19 crisis, the plan would also accelerate the deployment of modern, reliable and clean energy technologies and infrastructure. In this context, it is important for Ukraine to continue energy reform in order to create an electricity market according to the European model. This is an effective opportunity to make Ukrainian energy industry modern, competitive and clean.

“DTEK is transforming its business to meet global trends and challenges & our investment priorities are defined by the goal to become a leader of decarbonisation. We are convinced that Ukraine should follow its European counterparts and adhere to a long-term vision in energy development to achieve the European Green Deal”, said DTEK CEO Maxim Timchenko.

The COVID-19 pandemic has created a global health and economic crisis that is severely affecting the energy sector. At the same time, this sector is of critical importance to response and recovery efforts, while also delivering the transition to a cleaner energy system.

In April 2020, the World Economic Forum announced the creation of exclusive CEO communities called Industry Action Groups (IAG) in order to focus on response and recovery efforts. IAG aims to provide energy stakeholders and policy-makers with the tools to make decisions on investments, which accelerate the energy transition and lead the world through the Great Reset into a sustainable future.