Green Finance (Apr 2022)
The compliance of the regional development strategies and funding with the sustainable development concept: The case of Ukraine
Abstract
In accordance with international agreements, Ukraine has committed to transitioning to the principles of sustainable development and building a green economy. However, Ukraine's strategic regional planning and financing with the aim of achieving its sustainable development goals remain insufficiently analysed. This paper examines the compliance of Ukraine's regional development strategies against the declared sustainable development concept and goals to determine the amount of funding invested in the measures aimed at "greening" these regions' economies and to compare these investments with the declared measures in accordance with the sustainable development concept. To achieve these objectives, we analysed 24 regional strategies and one city's strategy (Kyiv) with respect to strategic and operational goals relating to sustainable development constituents and the achievement of sustainable development goals. To assess Ukraine's commitment to regional public policy in relation to the sustainable development concept, we analysed the revenues and expenditures of the regional budgets for 2018–2020 and defined the amount of investment in the field of environmental protection and ecology. Comparison of these indicators reveals the formal and subject-matter compliance of regional development strategies with the sustainable development concept as well as real financial support for the environmental development of Ukraine's regions. The main findings allowed us to define Ukraine's commitment to its regional public policy regarding sustainable development and the declarativeness of some regions' statements regarding their commitment to sustainable development, to determine which regions are most relevant to sustainable development strategies and expenditures within the regional budget and to develop recommendations for further research.
Keywords
