The move to sustainable development and building a carbon-low economy needs funding. In this regard, a new direction in finance – green (sustainable) finance – has emerged. One of the green finance instruments is green bonds, first issued by supranational financial institutions. This paper aims to identify the features of green bond issues and implemented green projects by the World Bank (the WB) and the European Bank for Reconstruction and Development (the EBRD). Data were obtained from databases and reports of the WB, the EBRD, and the Climate Bonds Initiative. Data analysis was provided using statistical methods, particularly descriptive and comparative statistics. A positive trend in the issue of green bonds in the volumes and timing of the WB and the EBRD was revealed, despite the shift in emphasis caused by COVID-19. Renewable energy, energy efficiency, and clean transportation remain the primary directions of the WB, and the EBRD green projects amounted to more than 60% of total projects funding. The geography of green projects financed through the WB and the EBRD green bonds indicates that green projects are receiving significant funding from countries facing environmental challenges and demonstrating intent to green transition (the WB – China and India, the EBRD – Turkey, Poland, and Egypt). Supranational financial institutions were the first to come to the forefront of sustainable development funding and are now spearheading the creation of new financial instruments aimed at financing both green and social projects, leading to the emergence of sustainability bonds. Acknowledgment(s)The authors would like to thank the participants of the 1st International Conference on Sustainable Development (SDL 2021) for providing the valuable remarks and a fruitful discussion. This research received no specific grant from any funding agency in the public, commercial, or not-for-profit sectors.
The level of insured losses from natural and man-made disasters occurred in the world from 2012 to 2016 did not exceed 30-45%. Therefore, it is necessary to study another perspective source of financing losses refunding from natural and man-made disasters. The objective of this research is to consider financing losses from natural and manmade disasters by use of crowdfunding, especially in emerging countries. It was defined that the most appropriate model of crowdfunding for financing losses from natural and man-made disasters is donation model with reward-based and donation-based business models. Stimulus for individuals to take part in crowdfunding for financing losses from natural and man-made disasters can be different depending on their location and business model. Sets of assessments based on four categories of questions and method of results visualization were used to examine a country's readiness for crowdfunding on the example of Ukraine. Complete level of Ukraine's readiness for crowdfunding was defined. It shows that reward-based crowdfunding is the first stage towards crowdfunding implementation and development. Further research should be done to investigate the mechanism of using a tax discount in case of implementation of the reward-based crowdfunding for financing losses from natural and man-made disasters.
Agribusiness in Ukraine takes one of the most important places in the national economy, but not all subjects conduct it sustainably, because of the lack of resources to finance such transformations. Therefore, it is necessary to investigate the instruments of resource attracting for Sustainable Development Acceleration of Agribusiness in Ukraine. The aim of the article is to determine the current state of basic tools which are used to obtain resources for accelerating the sustainable development of agribusiness in Ukraine, namely agriculture insurance, green bonds and impact investment. The article uses a situational analysis, a monographic method, tabular and graphical methods, scientific generalization to analyze the experience of the use of agriculture insurance, green bonds and impact investment as tools to accelerate the sustainable development of agribusiness. The information sources for this research were the reports of the International Finance Corporation, the sustainability reports of the European Bank for Reconstruction and Development and the reports of the United Nations Development Program in Ukraine. The study of the practice of using agriculture insurance, green bonds and impact investment as tools to accelerate the sustainable development of agribusiness in Ukraine made it possible to determine the embryonic level of their use. This is indicated by the modeling of the development of the agriculture insurance in Ukraine, which showed that this type of insurance is formal and does not perform a real protective function. As for projects, the resources of which are attracted through green bonds and impact investment programs, they are fragmentary and need to be more systemic. This work is one of the first which looks into the practice of applying tools to accelerate the sustainable development of agribusiness in Ukraine, in the context of three dimensions and achieving sustainable development goals. For the further development of both agriculture insurance and green bonds, it is necessary to stimulate the emission of such debt securities by insurance companies and to develop not only insurance of primary agricultural products, but also processed ones, exporting of which brings more foreign exchange earnings to Ukraine. This study aims to highlight current practices in the application of tools to accelerate the sustainable development of agribusiness in Ukraine, including agriculture insurance, green bonds and impact investment, which represent the basis for their promotion and prevalence in the scientific community and among agribusiness professionals.
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