The compliance of the regional development strategies and funding with the sustainable development concept: The case of Ukraine

Inna Semenenko; Yana Bilous; Ruslan Halhash; Inna Semenenko; Yana Bilous; Ruslan Halhash

doi:10.3934/GF.2022008

Green Finance

2022, Volume 4, Issue 2: 159-178. doi: 10.3934/GF.2022008

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Research article Special Issues

The compliance of the regional development strategies and funding with the sustainable development concept: The case of Ukraine

1.
Department of Economics and Entrepreneurship, Faculty of economics and management, Volodymyr Dahl East Ukrainian National University, Severodonetsk, Ukraine
2.
Department of Public Administration, Management and Marketing, Faculty of economics and management, Volodymyr Dahl East Ukrainian National University, Severodonetsk, Ukraine

Received: 08 December 2021 Revised: 01 April 2022 Accepted: 02 April 2022 Published: 08 April 2022
JEL Codes: H76, Q01, R11, R58

In accordance with international agreements, Ukraine has committed to transitioning to the principles of sustainable development and building a green economy. However, Ukraine's strategic regional planning and financing with the aim of achieving its sustainable development goals remain insufficiently analysed. This paper examines the compliance of Ukraine's regional development strategies against the declared sustainable development concept and goals to determine the amount of funding invested in the measures aimed at "greening" these regions' economies and to compare these investments with the declared measures in accordance with the sustainable development concept. To achieve these objectives, we analysed 24 regional strategies and one city's strategy (Kyiv) with respect to strategic and operational goals relating to sustainable development constituents and the achievement of sustainable development goals. To assess Ukraine's commitment to regional public policy in relation to the sustainable development concept, we analysed the revenues and expenditures of the regional budgets for 2018–2020 and defined the amount of investment in the field of environmental protection and ecology. Comparison of these indicators reveals the formal and subject-matter compliance of regional development strategies with the sustainable development concept as well as real financial support for the environmental development of Ukraine's regions. The main findings allowed us to define Ukraine's commitment to its regional public policy regarding sustainable development and the declarativeness of some regions' statements regarding their commitment to sustainable development, to determine which regions are most relevant to sustainable development strategies and expenditures within the regional budget and to develop recommendations for further research.
- strategy,
- region,
- sustainable development,
- sustainable development goals,
- strategic goal,
- compliance,
- expenditures,
- revenues
Citation: Inna Semenenko, Yana Bilous, Ruslan Halhash. The compliance of the regional development strategies and funding with the sustainable development concept: The case of Ukraine[J]. Green Finance, 2022, 4(2): 159-178. doi: 10.3934/GF.2022008

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Abstract

In accordance with international agreements, Ukraine has committed to transitioning to the principles of sustainable development and building a green economy. However, Ukraine's strategic regional planning and financing with the aim of achieving its sustainable development goals remain insufficiently analysed. This paper examines the compliance of Ukraine's regional development strategies against the declared sustainable development concept and goals to determine the amount of funding invested in the measures aimed at "greening" these regions' economies and to compare these investments with the declared measures in accordance with the sustainable development concept. To achieve these objectives, we analysed 24 regional strategies and one city's strategy (Kyiv) with respect to strategic and operational goals relating to sustainable development constituents and the achievement of sustainable development goals. To assess Ukraine's commitment to regional public policy in relation to the sustainable development concept, we analysed the revenues and expenditures of the regional budgets for 2018–2020 and defined the amount of investment in the field of environmental protection and ecology. Comparison of these indicators reveals the formal and subject-matter compliance of regional development strategies with the sustainable development concept as well as real financial support for the environmental development of Ukraine's regions. The main findings allowed us to define Ukraine's commitment to its regional public policy regarding sustainable development and the declarativeness of some regions' statements regarding their commitment to sustainable development, to determine which regions are most relevant to sustainable development strategies and expenditures within the regional budget and to develop recommendations for further research.

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