Oriekhova T.V, Doctor of Economics, Professor, Dean of the Faculty of Economics, Vasyl’ Stus Donetsk National University, Vinnytsia, Ukrainе

ORCID ID: 0000-0003-3650-5935
e-mail: t.oriekhova@donnu.edu.ua

Svirhun A.R, Postgraduate Student, Vasyl’ Stus Donetsk National University, Vinnytsia, Ukrainе

ORCID ID: 0000-0002-8419-2796
e-mail: a.svirhun@donnu.edu.ua

Determinants of the Development of the European Sustainable Finance Market

Abstract. Introduction. The paradigm of achieving sustainable development goals is based on the formation of a synergistic relationship between economic, social and environmental factors. In such conditions, the issue of formation of an effective and efficient set of sustainable financing instruments to ensure the appropriate level of financing of activities aimed at achieving the Sustainable Development Goals is brought to the forefront. Accordingly, it is worth noting that the study of the main determinants of the development of the European market of sustainable finance is important, given the constant need for the formation of financial flows to ensure the achievement of a sustainable economy. The European sustainable finance market is the basis for achieving the transition to ecologically sustainable, socially responsible and climate-neutral development. The European Sustainable Finance Market will be built taking into account a wide range of financial instruments, policies and standards aimed at integrating environmental, social and governance factors into the financial decision-making process. The European Sustainable Finance Market is a financial ecosystem of the European Union aimed at supporting economic activity that takes into account ESG (environmental, social and governance) principles.  The main objective of the European Sustainable Finance Market is to create a quality environment for the accumulation of financial resources to promote sustainable development.  

Purpose. The main purpose of the study is to generalize the theoretical aspects of the main determinants of the development of the European Sustainable Finance Market and to analyze the trends of its development. 

Results. The article analyzes the main stages of development of the European sustainable finance market. A comparison of the concepts of sustainable value creation before and after the adoption of the Sustainable Development Goals was made. The main features of the functioning of the European stable finance market have been identified. 

Conclusions. The European stable finance market is a dynamic and effective system for the formation of financial flows for the achievement of the Sustainable Development Goals, which develops under the influence of global, transnational, international and national factors, taking into account the synergistic relationship between economic, social and environmental factors.

Keywords: human resource potential; employee; potential development; human resource potential structure; development factors; personal competencies.

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