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University Economic Bulletin

Article

Green finance as a tool for sustainable development and post-war recovery in Ukraine

Oksana Cheberyako, Iryna Leshchenko
Retrieved from Vol. 20, No. 1, 2025 Pages 8–18
Received
08.01.2025
Revised
12.04.2025
Accepted
15.05.2025
Views
668

Abstract

The ongoing war in Ukraine poses significant challenges to the country’s economy and environmental sustainability, and the use of green finance can be a key tool for post-war economic recovery and sustainable development by attracting resources for environmentally friendly and innovative projects. The purpose of the article was to study the potential of green finance and analyse the possibilities of implementing this tool to support the country’s economic and environmental sustainability in the post-war period. The study used empirical, analytical, and systematic methods to assess the impact of green finance on economic growth, reducing environmental impacts, and improving the quality of life of citizens. Overall, the study results demonstrated the high potential of green finance for Ukraine’s future development. The article analysed the policy framework and international commitments that could serve as a basis for green finance policy in Ukraine. The study examined the dynamics of green finance in the world over the past 16 years, which showed a steady increase in interest in environmentally sustainable investments. Recommendations for the development of green finance were proposed, including the introduction of mechanisms to attract investment in sustainable environmental projects, support sustainable growth, and modernise sectors of the economy that are critical to the country’s post-war recovery. The main conclusion is the need to integrate environmentally friendly and innovative projects into infrastructure reconstruction, which will help ensure sustainable economic development and reduce environmental risks. International financial instruments and commitments that help attract investment in green projects play an important role in this process. The scientific results obtained in the course of this study can contribute to solving the current problems of integrating green finance into Ukraine’s sustainable development and recovery strategies, and can be used by government agencies to develop effective mechanisms for financing environmentally sustainable initiatives in the post-war period

Keywords

green finance; green investments; climate change; green bonds; environment; sustainable development goals; post-war reconstruction

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Suggested citation

Cheberyako, O., & Leshchenko, I. (2025). Green finance as a tool for sustainable development and post-war recovery in Ukraine. University Economic Bulletin, 20(1), 8-18. https://doi.org/10.69587/ueb/1.2025.08