ESG FACTORS IN THE TRANSFORMATION OF UKRAINE’S FINANCIAL ARCHITECTURE: INVESTMENT DIMENSION AND SUSTAINABLE FINANCE

This article examines the role of ESG factors in the transformation of Ukraine’s financial architecture in the context of sustainable development, focusing on investment processes and the development of sustainable finance. The theoretical foundations of the transformation of financial architecture under the influence of the concept of sustainable development and the integration of ESG criteria into investment activities are considered. The research analyzes the current trends and prospects for implementing sustainable financing instruments, in particular green bonds. Attention has also been paid to the development of sustainable banking and the incorporation of ESG factors into the operations of banking institutions. The key risks and barriers to sustainable investment in Ukraine have been identified. The challenges associated with adapting the Ukrainian securities market to international sustainable finance standards are analyzed, and the prospects for its integration into global financial flows are outlined. The article proposes a conceptual model of the impact of ESG factors on the transformation of Ukraine’s financial architecture. The directions for the transformation of Ukraine’s financial architecture, taking into account ESG factors and European benchmarks for sustainable finance, are presented. The research findings indicate that implementing sustainable development principles is not only a factor in modernizing Ukraine’s financial architecture but also a strategic tool for enhancing economic resilience, investment attractiveness, and international competitiveness. It is argued that building a financial architecture based on the principles of sustainable finance and the integration of ESG criteria is a necessary condition for attracting foreign investment as part of Ukraine’s post-war recovery.