{"id":22498,"date":"2026-07-29T15:41:40","date_gmt":"2026-07-29T12:41:40","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=22498"},"modified":"2026-07-29T15:41:40","modified_gmt":"2026-07-29T12:41:40","slug":"stimulating-private-investors-to-engage","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/stimulating-private-investors-to-engage\/","title":{"rendered":"Lutsiv B. Stimulating Private Investors to Engage in Sustainable Investment: Global and National Context"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n
JEL Classification:<\/strong> G24; G31; G32; O22; Q51; Q58.<\/em><\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V57(2026)-16<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]Lutsiv Bohdan,<\/strong> Doctor of Economic Sciences, Professor, Professor of the Department of Financial Technologies and Banking Business, West Ukrainian National University, Ternopil, Ukraine<\/p>\n

ORCID:<\/strong> 0000-0002-3302-0505<\/span><\/a>
\ne-mail: <\/strong>bluciv@gmail.com<\/span><\/a><\/p>\n

Stimulating Private Investors to Engage in Sustainable Investment: Global and National Context<\/strong><\/p>\n

Abstract.<\/em><\/strong> Introduction<\/strong><\/em>.<\/em><\/strong> Sustainable development is becoming the foundation of a new global investment order. Global trends indicate the systemic integration of ESG principles into financial decisions. For Ukraine, which is in a state of war and planning a large-scale post-war reconstruction, a sustainable approach to investment is not only a necessity but also a historic opportunity. Mobilizing private investors in combination with state and international resources can lay the foundation for forming a new investment ecosystem based on the principles of sustainability.<\/em><\/p>\n

Purpose.<\/em><\/strong> The aim of this study is a scientific-theoretical and analytical analysis of tools for stimulating private investors towards sustainable investment in the global and national (Ukrainian) context.<\/em><\/p>\n

Results.<\/em><\/strong> Sustainable development is becoming the foundation of a new global investment order. Global trends indicate a systematic integration of ESG principles into financial decisions. For Ukraine, post-war reconstruction is both a challenge and an opportunity \u2014 an opportunity to carry out transformation based on the principles of sustainability and innovation. Stimulating private investors is only possible through a combination of national policy and international support. The role of multilateral development banks is to reduce risks and mobilize private capital. The key issue lies not only in attracting funds, but also in directing them toward projects that meet the criteria of long-term sustainability and social benefit.<\/em><\/p>\n

Conclusions.<\/em><\/strong> Stimulating private investors to engage in sustainable investment is key to rebuilding Ukraine and its integration into the global capital market. The combination of state support, international guarantees and private sector activity will allow Ukraine to build a new type of economy <\/em>\u2013<\/em> sustainable, innovative and competitive.<\/em><\/p>\n

Keywords:<\/em><\/strong> Sustainable development; sustainable investment; private investors; global trends and drivers; ESG principles.<\/em><\/p>\n

References<\/b>:<\/strong><\/p>\n

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  1. Sullivan, R., & Mackenzie, C. (2017). Responsible Investment: Guide to ESG Data, Metrics, and Integration. Journal of Sustainable Finance & Investment<\/em>, 7, 170-188. https:\/\/www.scirp.org\/reference\/referencespapers?referenceid=4108292.<\/li>\n
  2. Global Sustainable Investment Alliance. (2023). Global Sustainable Investment Review 2022<\/em>. https:\/\/www.gsi-alliance.org\/wp-content\/uploads\/2023\/12\/GSIA-Report-2022.pdf.<\/li>\n
  3. Organisation for Economic Co-operation and Development. (2023, June 8). OECD Guidelines for Multinational Enterprises on Responsible Business Conduct<\/em>. https:\/\/www.oecd.org\/en\/publications\/oecd-guidelines-for-multinational-enterprises-on-responsible-business-conduct_81f92357-en.html.<\/li>\n
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  7. Friede, G., Busch, T., & Bassen, A. (2015). ESG and financial performance: Aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance & Investment<\/em>, 5(4), 210-233. https:\/\/doi.org\/10.1080\/20430795.2015.1118917.<\/li>\n
  8. Stoliarchuk, Y., Ilnytskyy, D., & Rudkovskyy, S. (2023). Green investments as a mechanism of global sustainable development. Herald of Khmelnytskyi National University. Economic Sciences<\/em>, 316(2), 241-246. https:\/\/doi.org\/10.31891\/2307-5740-2023-316-2-39.<\/li>\n
  9. Sknar, D. (2025). The market of sustainable investment: theoretical principles and specifics of development. Economy and Society<\/em>, 78. https:\/\/doi.org\/10.32782\/2524-0072\/2025-78-73.<\/li>\n
  10. Hanechko, I., & Afanasyev, K. (2025). ESG investment strategies. Scientia fructuosa<\/em>, 2(160), 44-59. https:\/\/doi.org\/10.31617\/1.2025(160)03.<\/li>\n
  11. Bugg-Levine, A., & Emerson, J. (2011). Impact investing: Transforming how we make money while making a difference. Innovations: Technology, Governance, Globalization<\/em>, 6(3), 9-18. https:\/\/doi.org\/10.1162\/INOV_a_00077.<\/li>\n
  12. Global Sustainable Investment Alliance. (2021). Global Sustainable Investment Review 2020<\/em>. https:\/\/www.gsi-alliance.org\/members-resources\/gsir2020\/.<\/li>\n
  13. Climate Bonds Initiative. (2023). Global state of the market report 2022<\/em>. https:\/\/www.climatebonds.net\/data-insights\/publications\/global-state-market-report-2022.<\/li>\n
  14. Global Impact Investing Network. (2022). GIINsight: Sizing the impact investing market 2022<\/em>. https:\/\/thegiin.org\/publication\/research\/impact-investing-market-size-2022\/<\/a>.<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received: 23 June 2026<\/strong><\/p>\n

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    Lutsiv B. (2026). Stimulating Private Investors to Engage in Sustainable Investment: Global and National Context. Modern Economics, 57(2026), 116-121. DOI: https:\/\/doi.org\/10.31521\/modecon.V57(2026)-16.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_column_text] JEL Classification: G24; G31; G32; O22; Q51; Q58. DOI: https:\/\/doi.org\/10.31521\/modecon.V57(2026)-16 [\/vc_column_text][vc_column_text]Lutsiv Bohdan, Doctor of Economic Sciences, Professor, Professor of the Department of Financial Technologies and Banking Business, West Ukrainian National University, Ternopil, Ukraine ORCID: 0000-0002-3302-0505 e-mail: bluciv@gmail.com Stimulating Private Investors to Engage in Sustainable Investment: Global and National Context Abstract. Introduction. Sustainable development is
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