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Financial determinants of the post-war reconstruction of the national economy on the principles of the European Green Deal

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Category: Content №3 2024

Last Updated on 28 June 2024

Published on 30 November -0001

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Authors:

L.G.Solianyk, orcid.org/0000-0003-3291-3931, Dnipro University of Technology, Dnipro, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

N.M.Shtefan, orcid.org/0000-0003-4779-2618, Dnipro University of Technology, Dnipro, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

D.S.Bukreieva*, orcid.org/0000-0003-3175-5193, Dnipro University of Technology, Dnipro, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

* Corresponding author e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

повний текст / full article

Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2024, (3): 181 - 190

https://doi.org/10.33271/nvngu/2024-3/181

Abstract:

Purpose. To substantiate the role of Green Finance and its separate segments for the greening of the national economy in the context of global trends and world practices regarding the transformation of the capital market and compliance with the principles of the European Green Deal; to determine the most effective mechanisms and tools for stimulating the launch and development of the green bond market in Ukraine. To improve methodical approaches to assessing the economic efficiency of investment projects and optimizing the enterprise’s investment program, taking into account the environmental impact factor.

Methodology. The theoretical and methodological basis of the research is the theoretical position of scientists in the field of financial support for the development of the green economy; a complex of general scientific and specific methods: system analysis and mathematical statistics; economic and mathematical modeling and logical generalization.

Findings. The peculiarities of the transformation of global green bond financing are established. The growth of its role in the diversification of existing sources of financing of the green economy and dominance in the world issue of debt obligations is proven. A green bond model based on the Green Bonds Principles is proposed; a mechanism for stimulating the launch and development of the green bond market in Ukraine, which will be an important step on the way to the implementation of European standards for the development of green energy and environmental protection. It has been proven that the formation of an optimal portfolio of green investment projects must be carried out taking into account environmental impact factors.

Originality. In the process of research, it was established that in the conditions of an unstable environment and military operations, the role of new financial instruments, primarily green bonds, in financing environmental projects, providing access to global capital markets and international financial aid programs, is increasing. A green bond model based on the Green Bonds Principles and a mechanism for stimulating the launch and development of the green bond market in Ukraine is proposed. Methodical approaches to evaluating the efficiency of investment processes and optimizing the portfolio of green investment projects have been improved, which, unlike the existing ones, take into account the project’s ecological impact on the environment.

Practical value. It consists in the development of proposals to stimulate the development of the green bond market in Ukraine; determination of the optimal investment development program of the enterprise based on the economic-mathematical model of optimization of the net profit of the enterprise, which takes into account the growing influence of environmental factors on investment efficiency indicators.

Keywords: green bond model, global bond financing; environmental impact factor

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