“GREEN” BONDS AS A FINANCIAL TOOL FOR MUNICIPALITIES
This article is devoted to the study of the peculiarities of the introduction and development of the market of “green” bonds in Ukraine, their impact on the economy as a tool for state and local authorities. All significant advantages, disadvantages and risks of this initiative are identified, its prospects are compared and analyzed. The order of formation and peculiarities of the organization of the market of “green” bonds in the USA for the period from 2013 and prospects of its further development are investigated. The current legal framework in this area has been studied, its main shortcomings have been identified, and directions for improving the legislation in this area have been identified for further, more favorable conditions for the development of “green” initiatives. Mandatory conditions for certification of this type of bonds, their compliance with international standards and the standards of the organization that controls all “green “initiatives”. The main ways of introduction of the market of “green” bonds are outlined, the main advantages and restrictions concerning use of each of these options in the territory of Ukraine are established. Conclusions are formulated on the possibility of implementing this project at the current stage of development of Ukraine and its expected consequences.
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