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Hilshaw Group wins Ukraine climate change study contract

June 22, 2021
real estate

Dubai’s Hilshaw Group, a multi-family office and change management and investment advisory, said it has been awarded a contract along with Kyiv's Tech & Change Management Consultancy ‘Green – Z’ to initiate the process to mitigate the effects of climate change on the country's $18.6 billion agriculture sector.

The companies inked a contract whereby Hilshaw Group will conduct an impact study as the first phase of the process.

Ukraine is home to 41.5 million hectares of agricultural land, which covers 70 per cent of the country's total land bank. Agriculture is the country’s most significant export and helped generate 9% of its GDP In 2019.

Data from earlier this year suggests last year as the hottest in Kyiv. With the reality of climate change becoming impossible to ignore globally, Ukraine’s supremacy and dependency on the agricultural sector increase its exposure to the negative impacts of climate change.

The changes are not limited to Kyiv. The resulting scarcity of rain resulted in the loss of 570,000 hectares of winter crops due to prolonged droughts and unusually intense spring frosts and additional losses of 200,000 hectares of corn and lower crop yield.

Lack of rainfall is one of many negative aftermaths of climate change in Ukraine, and a new range of practices and technologies need to be employed to address these inevitabilities.

The impact study and resulting mitigation roadmap that Hilshaw Group has been commissioned to execute, would help evaluate the plan, methodology and the way forward, while justifying the cost vs benefits of each proposition and possibility. Hilshaw Group’s submission qualified against three European organizations.

Hilshaw Group primarily invests in low supply and finite assets and opportunities. It has allocated $175 million towards UAE real estate, specifically towards the facilitation of the remote work visa programme to help mitigate the global post pandemic work culture.

The group has also been appointed as the exclusive advisor and financial consultant for the $7 billion ‘Athi River Green Smart City’ in Nairobi, Kenya.

'Besides being a business, we are passionate Ukrainians who believe in the progress of local brands and businesses as part of the Nation's progress. To be able to assist the Country's 9% GDP contributor would be an absolute honour ,' said Zavgorodnii Dmytro, CEO, Green Z Consultants.

'We are overwhelmed to have partnered with qualified professionals like Hilshaw Group to help navigate this mission to success,' he stated.

'Our alignment with Hilshaw Group is not limited to the Impact Study alone, but extends to the implementation of the mitigation strategies and plan as well,' he added.

Chairman Lal Bhatia said: 'It is an absolute honour to be appointed to assist with a project that is perhaps one of the most significant concerns of economic and national interest to Ukraine.'

'While the surface strategies to negotiate through the changing weather seem apparent, an in-depth understanding of future concerns alongside a robust, self-contained investment strategy is needed to mitigate effects and achieve the required long-term benefits through practice change and technology,' noted Bhatia.

'In addition to cloud seeding, domiciled reservoirs, and networked irrigation, the impact study will reveal a complete roadmap not just to preserve but increase the agricultural sector's contribution to the Country's GDP,' he added.

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