FINANCIAL DETERMINANTS OF CAPITAL INVESTMENTS IN SUSTAINABLE DEVELOPMENT OF UKRAINE

Abstract

The study is devoted to the development of the conceptual foundations of financial determinants of capital investments and their role in the sustainable development of Ukraine is determined. The author established that the annual investment needs for developing countries alone are estimated at 3.3 to 4.5 trillion. USD per year. Investments are needed primarily to finance the development of basic infrastructure, the fields of medicine and education, ensuring food security, mitigating the consequences and adapting to climate change and other areas of sustainable development. The research substantiates that the financing of capital investments of sustainable development is a separate sphere of socio-economic relations, where financial support for the creation, restoration or expansion of capital assets in all spheres of social development takes place. Such a system has specific complex mechanisms for the formation of financial potential for the realization of capital investments and tools for self-preservation and self-development, which are subject to the Goals of sustainable development, for the sake of the main goal – the sustainable development of the country. The article analyzes the instruments of state policy regarding sustainable finance and determines that the state should create the necessary environment for stimulating the financial provision of capital investments in the future. Considering the European integration processes in Ukraine, the state policy in the field of financing sustainable development capital investments should be based on European principles. The improvement of the taxation system in the field of investment capital markets, the introduction of special investment accounts, the improvement of activities in the field of joint investment, the introduction of social bonds and bonds of sustainable development, the disclosure of information about ESG and other directions. The study proved that the financing of capital investments of sustainable development is a sustainable system integrated into the international space, capable of facing challenges, developing and contributing to the sustainable development of the country. The author determined that the main task today is to form sufficient financial and investment potential for the reconstruction and socio-economic development of Ukraine, to ensure access to sustainable financing for all communities, business entities, to strengthen the mobilization of domestic savings for long-term investments aimed at achieving the Sustainable Development Goals.