Another Economic and Environmental Forum cycle begins in the shadow of Russia's brutal, illegal and unjustified war against Ukraine. Since we last began this cycle we have witnessed the devastating environmental impact of the destruction of the Nova Kakhovka dam in June, and the degradation of landscapes; forest fires; Russia's indiscriminate attacks on industrial facilities; and the extensive use of land mines.
We are gathered in this forum today to discuss sustainable development. But we do so while one participating State - Russia - destroys the tools needed to achieve this in another.
Since February 2022, Russian targeting of Ukraine's energy system has resulted in 12 billion dollars' worth of damage to the energy sector. At one stage, 60% of Ukraine's power capacity was occupied, damaged, or destroyed.
However, as in so many areas, Ukraine has demonstrated its resilience, and with the support of donors has avoided rolling blackouts and protected energy generation.
As the war continues, air defence and passive defence for infrastructure remain key to the resilience of power generation and transmission. The UK has provided support, including protection for sites, and invested 24 million pounds to the Ukraine Energy Support Fund.
Energy will be crucial to recovery and reconstruction in Ukraine, as well as its longer-term sustainable development. Recovery and reconstruction need stand at over 47 billion dollars. The UK has supported Ukraine to launch its Energy Strategy to 2050; establish a Clean Energy Partnership with donors; develop its National Energy and Climate Plan; and make progress on a number of regulatory reforms in the energy sector.
The UK also intends to provide up to 192 million pounds through our export credit agency, enabling supply of uranium enrichment services, a vital part of nuclear fuel, which will help power Ukraine.
We look forward to the Ukraine Recovery Conference in Berlin in June. This will be a good opportunity to signal the necessary continued support to Ukraine's recovery agenda and maintain focus on progressing reforms needed to support private sector investment.
