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Credit Instruments as Part of the «Green» Finance Policy
Bench L. Y., Andriichuk A. Y., Ponomarova K. S.

Bench, Liliia Ya., Andriichuk, Anastasiia Yu., and Ponomarova, Kseniia S. (2019) “Credit Instruments as Part of the «Green» Finance Policy.” Business Inform 12:338–343.
https://doi.org/10.32983/2222-4459-2019-12-338-343

Section: Finance, Money Circulation and Credit

UDC 336

Abstract:
The article is aimed at studying the credit instruments of «green» finances. The Kyoto Protocol calls for the use of credit instruments to effectively counter climate change. The article substantiates the need for active use in the world of such credit instruments for environmental management («green» finances), such as carbon credit, «green» certificates, «green» bonds. The current tendencies in the use of credit instruments to counter environmental risks are considered. The authors also consider the process of trading CO2 emissions certificates (emissions trading system). One of the main instruments of «green» financing – «green» credit – has been researched. The essence of the emissions trading system, carbon credit, «green» bonds and «green» certificates is considered. The need to use «green» certificates and «green» bonds in Ukraine is discovered. The bond market and the value of «green» bonds in the world are analyzed. A number of advantages and risks of the introduction of «green» bonds in Ukraine is defined. Measures to popularize credit instruments in Ukraine are proposed. Prospect for further research in this direction is to consider increasing the attractiveness of the above mentioned credit instruments.

Keywords: «green» finances, credit instruments, emissions trading system, carbon credit, «green» credit, «green» bank, «green» bond, «green» certificate.

Fig.: 2. Bibl.: 10.

Bench Liliia Ya. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]
Andriichuk Anastasiia Yu. – Student, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]
Ponomarova Kseniia S. – Student, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]

List of references in article

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Sokolova, T., Sushchenko, O., and Schwarze, R. “Roadmap for a Green Financial Policy in Ukraine under the EU Association Agreement“. UFZ Discussion Papers. Helmholtz-Zentrum fur Umweltforschung GmbH. 2019. https://www.ufz.de/export/data/global/232525_DP_2019_06_Sokolova_etal.pdf
Karlin, M. “Problemy i perspektyvy vykorystannia «zelenykh» finansiv terytorialnymy hromadamy: svitovyi dosvid ta Ukraina“ [Problems and Prospects of Using «Green» Finance by Territorial Communities: World Experience and Ukraine]. Ekonomichnyi chasopys Skhidnoievropeiskoho natsionalnoho universytetu imeni Lesi Ukrainky, no. 1 (2018): 148-157. DOI: https://doi.org/10.29038/2411-4014-2018-01-148-157
Kurbatova, T. O. “Systema torhivli zelenymy sertyfikatamy: perspektyvy dlia Ukrainy“ [The Green Certificate Trading System: Prospects for Ukraine]. Ekonomika ta derzhava, no. 2 (2015): 131-135.
Frolov, A., and Hura, K. <. ECOBUSINESS. Ekolohiia pidpryiemstva. 28.10.2019. http://ecolog-ua.com/articles/svitovyy-dosvid-organizaciyi-rynku-zelenyh-obligaciy-praktychni-porady-dlya-ukrayiny
Beschloss, A., and Mashayekhi, M. “A Greener Future for Finance“. Finance & Development. December 2019. https://www.imf.org/external/pubs/ft/fandd/2019/12/green-bonds-offer-lessons-for-sustainable-finance-beschloss.htm
“Barclays MSCI Green Bond Index: Bringing clarity to the green bond market through benchmark indices“. Index Factsheet 2015. https://www.msci.com/documents/1296102/11926825/Bloomberg+Barclays+MSCI+US+Aggregate+ESG+Choice+Bond+Index_Fact+Sheet.pdf/bff9fd82-396d-ab79-3b7d-cfdecd5d3dea
“Green bonds: The state of the market 2018 Climate Bonds Initiative“. https://www.climatebonds.net/files/reports/cbi_gbm_final_032019_web.pdf
“«Zeleni» oblihatsii mozhut zaluchyty $73 miliardy investytsii v Ukrainu“ [Green Bonds Can Attract $73 Billion in Investments in Ukraine]. https://www.ukrinform.ua/rubric-economy/2716283-zeleni-obligacii-mozut-zaluciti-73-milardi-investicij-v-ukrainu.html
Doroshenko, V. M. “Suchasni instrumenty zabezpechennia finansuvannia enerhozberezhennia: «green finances»“ [Modern Energy Saving Financing Tools: Green Finances]. Zbirnyk naukovykh prats Cherkaskoho derzhavnoho tekhnolohichnoho universytetu. Seriia «Ekonomichni nauky», no. 50 (2018): 49-54.

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