• Karlin M. Lesya Ukrainka Eastern European National University
  • Ivashko O. Lesya Ukrainka Eastern European National University



In accordance with international agreements (such as the Association Agreement with the EU), Ukraine has committed itself to building a green economy.  However, the implementation of such a task involves not only the implementation of the necessary reforms at the level of the real economy, but also a radical restructuring of the financial system.  Such a system should not only be ready to increase the impact of non-financial risks, but also to ensure the mobilization of the necessary amounts of green finance.  Thus, according to the leading research and consulting center DIW Econ, Ukraine will need more than 200 billion euros to achieve this goal.

The article highlights current issues in the areas of "green" redirection of capital flows in order to modernize the financial system and its reorientation to ensure sustainable development.  Terms such as "environmental finance", "environmental investment" or "climate change investment" have been identified.  Peculiarities of green bonds circulation as the newest instruments of ecological investment are considered.

As a result of the conducted researches it is established that the way to creation of "green economy" becomes more and more actual, but achievement of the set purpose is impossible without accurate awareness of existing problems and working out of strategies of their overcoming.  Extensive use of environmental investment instruments can have some positive effects, but their increased cost should be taken into account compared to traditional investment instruments.  In particular, this applies to such elements of "green" finance as "green" tariff, "green bonds", "warm" loans, etc., which should also be considered as structural elements of environmental investment.


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How to Cite
Karlin M., & Ivashko O. (2020). GREEN FINANCE AS A NEW DIRECTION OF INVESTMENT IN UKRAINE. Economic Forum, 1(3), 97-104.