Transformation of the Financial System of Ukraine in the Sustainable Development Context

Abstract

The article proves that current challenges require new approaches to the functioning of the financial sector, which opens up a wide space for the implementation of innovative strategies and financial instruments aimed at achieving the sustainable development goals and ensuring balanced economic, social and environmental growth. The ranking positions of Ukraine according to the data of the Environmental Efficiency Index were studied and the necessity of the processes of the financial system transformation was substantiated. The key goals that guide the development of green financing in Ukraine and determine its strategic direction have been determined. A component analysis of financial instruments was carried out in terms of the relationship between the main components of sustainable development. It has been studied that green bonds play a key role in ensuring sustainable financing and development, which occurs at the expense of attracting capital to projects aimed at supporting environmental initiatives, the development of renewable energy sources and infrastructure. It is substantiated that the promotion of financial stability will be a key aspect of the successful transformation of the financial system of Ukraine in the context of sustainable development.

Keywords

• green investment
• green deal
• sustainable financing
• financial instruments
• financial system
• financial mechanism
• corporate governance
• sustainable development