A conceptual framework for development of Ukraine’s green stock market
Journal Title: Visnyk Ternopilskoho natsionalnoho ekonomichnoho universytetu - Year 2018, Vol 4, Issue
Abstract
The article considers the key drivers for boosting the green stock market in Ukraine. The latest development trends of the world green stock market are highlighted. Based on the analysis of national regulatory framework for stock market and foreign practice of developing the green stock market, essential mechanisms of the green stock market functioning are identitifed. After an in-depth review of contemporary research papers, an assumption is made that the green stock market is a set of specialized institutions which form a platform for the permanent circulation of green securities (issue, purchase and sale). It is emphasized that the green stock market should promote the circulation and efficient allocation of green financial resources, provide an opportunity to independently assess ecological and economic efficiency of entities, create conditions for fair competition in the market. Green finance is viewed as financial resources aimed at implementing green targets (mitigation of climate change, alternative energy use, clean technologies, energy- efficient (green) projects, etc.). The article determines the main goals and functions of the green stock market and systematizes principles of its functioning. It is concluded that the basic principles for boosting the green stock market include: compliance with the goals of sustainable development; social justice; protection of investors; regulation; monitoring; legal regulation; transparency. In order to ensure compliance with the transparency principle of the green stock market, it is necessary to develop a mechanism for identification, classification and accounting of green assets, according to which an appropriate classification of green financial resources can be developed. The article also describes the key players and their role in the development of the green stock market as an integral part of green finance. The findings confirm that the development of green securities (green bonds in particular) and green stock indices are the key drivers for boosting the green stock market.
Authors and Affiliations
Tetiana Pimonenko
Keywords
Related Articles
- EP ID EP515863
- DOI -
- Views 63
- Downloads 0
Institutional Role of Development Banks in Crediting Process to Stabilize the National Economy in Ukraine
The article deals with comprehensive analysis of banks of development and supply of resources for Ukrainian economy under conditions of financial deficit. The author investigated the peculiarities of foreign banks of dev...
Research and innovation field as an area for creating an innovation infrastructure for the development of today’s society
The paper examines social and economic aspects of the research and innovation field within which an infrastructure for the development of today’s society is being created. An idea of creating an innovation infrastructure...
Developing a set of norms and rules for corporate interactions: a public demand in the context of globalization
The article examines issues of developing an institutional environment for corporate interactions in the context of globalization, geo-economic challenges and the emergence of new stage of socially-oriented business prac...
Current transformation trends in the economy in response to transnationalization
The article considers current trends of transnationalization in the light of globalization of the world economy. The sources and channels of foreign direct investments are analyzed. It is pointed out, that the degree of...
Financial leasing as financial and credit support for investment activities of enterprises
The purpose of the article is to provide scientific rationale of the place and role of financial leasing in financial and credit support for investment activities of enterprises. The subject matter of the research includes...