№ 2/2022

Fìnansi Ukr. 2022 (2): 45–57https://doi.org/10.33763/finukr2022.02.045

MARKET OF FINANCIAL SERVICES

DYBA Mykhailo ¹, GERNEGO Iuliia ²

¹Kyiv National Economic University named after Vadym Hetman
OrcID ID : https://orcid.org/0000-0003-2007-9572
²Kyiv National Economic University named after Vadym Hetman, Research ID : http://www.researcherid.com/rid/54148192200
OrcID ID : https://orcid.org/0000-0002-4929-0411

ESG project financing: foreign practices and development opportunities in Ukraine

The theoretical basis of our study was to assess the evolution of ESG practices, study the essential characteristics of their key components, namely Environmental (care of the environment), Social (social projects), and Governance (transparency of governance). The article examines the specifics and approaches to ESG analysis, foreign and domestic assessment practices. In particular, the overview of ESG funding trends is based on the work and analytical reports of experts from the Organization for Economic Cooperation and Development. This laid the groundwork for the separation of financial practices and ESG support tools. ESG components are an important part of JPMorgan Chase\\\\\\\'s activities, that allows it to maintain its leading position in international markets in a pandemic society. Therefore, the study identifies the areas of ESG projects that are funded under the operational activities of JPMorgan Chase, as well as in view of strategic priorities. A map of the beneficiaries of Citigroup-funded ESG projects is presented. Accordingly, ESG projects expands the range of Citigroup beneficiaries. The experience of building strategic priorities through the implementation of ESG practices on the example of Goldman Sachs is analyzed. Examples of the development and financing practices of ESG projects in Ukraine are given. Proposals have been made for measures to stimulate financial support for ESG projects in Ukraine. Realization of the existing potential is possible due to the creation of an integrated system of incentives for ESG projects financing, which requires the harmonization of relevant regulations and standards at the national level with industry standards and strategies of socially responsible activities of contractors. The research may be useful both in the context of financial support of ESG projects and development of investment strategies at the business level.

Keywords:project financing, social investments, environmental initiatives, social initiatives, management initiatives, ESG, COVID-19

JEL: G21, G23, G24, H53, Q20, Q50

DYBA M. . ESG project financing: foreign practices and development opportunities in Ukraine / M. . DYBA, I. Gernego // Фінанси України. - 2022. - № 2. - C. 45-57.

Article original in Ukrainian (pp. 45 - 57)

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