Post-War Reconstruction in Ukraine Within Corporate Finance Framework: Un SDG Aspect

Abstract

Under volatile modern context of global economic development, the UN Sustainable Development Goals (SDGs) emerged as a universal incentive for economic agents and a framework for their behavior. The 17 goals established in 2015 are highlighted, aimed at solving the most urgent issues, in particular, poverty, climate change, overcoming hunger, and improving the environment. The broad coverage of the SDGs underlines the context of the transition to sustainable and inclusive economic growth. At the same time, this change in the paradigm of economic development affected not only the state policy in the field of social programs, but also significantly influenced the development of corporate finance in the field of stimulating sustainable economic development. Corporate finance, which has traditionally focused on maximizing the value created for stakeholders, is increasingly applying a toolkit of goals and approaches to achieving sustainable development. This is confirmed by the growing trend of applying ESG criteria and corporate social responsibility ratings in the formation of micro-level financial decisions. The integration of SDGs into the strategy of corporate finance means adopting approaches regarding implementation of projects based on the SDGs. Besides, that poses a need for integration of the SDGs into the framework for financial management decisions in the tasks of implementing projects with a significant social component, as well as basing on the SDGs in the formation of financial communication with stakeholders (investors, shareholders, international financial institutions, others). Accordingly, the task of researching the intersection of policy and corporate finance arises the issue of embedding these global goals into the structure of management decision-making and interaction with the financial market infrastructure to attract financing and other resources on a competitive basis for projects with a significant social component. Such a project is the post-war reconstruction in Ukraine. As a result, all these factors determine the significant relevance of this direction of research. Given the sheer scope of this research issue, to further examine and broaden the scope of this study, this research elaborates on the findings and 1. Ambiguity of post-war reconstruction in Ukraine One of the most crucial tasks for the medium-and long-term prospects of key stakeholder groups in Ukraine of both micro-and macro-level is the postwar reconstruction, and economic recovery associated with that. Apart from being a prerequisite of infrastructure restoration to support the operations of economic agents at both the micro-and macro-level, the post-war reconstruction effectiveness, and its ability to produce sustainable results will also be used as a yardstick by exogenous stakeholders (both international donors, and industrial or financial businesses) to assess the way they perceive future of relations with Ukraine. Among other things, the interests of police needs (macro-level) and stakeholder-needs (micro-level) are o...