GREEN INVESTMENT AS A TOOL FOR POST-WAR ECONOMIC RECOVERY OF UKRAINE: EUROPEAN EXPERIENCE AND PROSPECTS FOR UKRAINE

Анотація

The article examines the role of green investment as a key instrument for the post-war recovery of Ukraine’s economy in the context of European integration and global sustainable development trends. The relevance of the study is determined by the growing contradictions in the global economy, where the need to ensure economic growth and recovery coexists with increasing climate risks and the urgency of transitioning to a low-carbon development model. The study argues that post-war reconstruction creates not only significant challenges but also a unique opportunity to rebuild Ukraine’s economy on the principles of sustainability, energy efficiency, and environmental responsibility. In this context, green investment is considered not merely as a financial mechanism, but as a strategic tool for structural transformation and long-term economic resilience. Attention is paid to the institutional foundations of green finance, including the role of regulatory frameworks, taxonomies, and financial instruments in shaping sustainable investment markets. The paper analyzes the European Union’s policy approach, especially within the framework of the European Green Deal, which aims to achieve climate neutrality by 2050 through systemic transformation of energy, industry, and financial sectors. The experience of selected EU countries, including Sweden, the Netherlands, and Germany, is examined to identify best practices in the development of green finance. The analysis highlights the importance of strong regulatory environments, active government participation, well-developed financial infrastructure, and the engagement of institutional investors. Special emphasis is placed on the development of green bond markets, the role of public institutions, and the integration of ESG (Environmental, Social, and Governance) principles into financial decision-making. The study demonstrates that ESG integration is becoming a critical prerequisite for attracting international capital. Major financial institutions increasingly prioritize projects that meet sustainability criteria, as ESG compliance reduces investment risks, enhances transparency, and improves long-term financial performance. For Ukraine, this implies that adherence to ESG standards is essential not only for accessing funding but also for maintaining competitiveness in international markets. The paper also explores the impact of European regulatory initiatives, such as the Corporate Sustainability Reporting Directive (CSRD) and the Carbon Border Adjustment Mechanism (CBAM), which are expected to significantly influence Ukrainian companies integrated into European value chains. These instruments establish new requirements for transparency, emissions control, and responsible supply chain management. Furthermore, the study identifies key challenges facing Ukraine in the development of green investment, including institutional constraints, limited access to financial resources, insufficient regulatory coherence, and the early stage of development of the green finance market. At the same time, the growing societal demand for responsible business practices and the increasing importance of international reputation are highlighted as additional drivers of ESG adoption. The findings confirm that green investment and ESG principles form the foundation of a new economic paradigm that combines economic efficiency with environmental sustainability and social responsibility. The implementation of this approach in Ukraine’s post-war recovery process will contribute to building a resilient, innovative, and competitive economy aligned with European standards. Keywords: green investment, post-war recovery, green economy, ESG principles, sustainable development, European integration, financial instruments

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