Development of green (climate) banking in Ukraine

Introduction. Effective counteraction/combat against climate change in Ukraine is impossible without the development of green (climate) banking, the creation of specialized financial institutions, and the implementation of green (climate) financing by commercial banks. At the same time, it is important for the Ministry of Finance of Ukraine and the National Bank of Ukraine (NBU) to take into account the related transformations in the domestic banking sector. The purpose is to determine the directions of development of green (climate) banking in Ukraine. Results. The significance of green (climate) banking in improving the institutional support of green (climate) financing, the implementation of domestic climate policy is determined. The features of the development of green (climate) banking in the conditions of European integration processes and the post-war recovery of the national economy are studied. The directions of improving climate financing in the banking services market of Ukraine, which should take place within the competence of the NBU and the role of commercial banks in the development of domestic green (climate) banking are clarified. Issues that deserve special attention in the development of «green» climate banking in Ukraine are highlighted. The algorithm for applying CB principles of climate financing in lending activities and the model of bank «green (climate) financing (lending, investment) in Ukraine and the stages of transformation of green banking are presented. Conclusions. Given the importance of developing green (climate) banking in Ukraine, this direction of development of the domestic banking system should be given constant attention. In this regard, it is important to take a comprehensive approach to fulfilling this task, fully coordinating the efforts of the NBU and domestic commercial banks, and to scale up the best banking practices in this area.