THE PARADIGM OF GREEN INVESTMENTS THROUGH THE LENS OF PUBLIC FINANCE

Abstract

This article explores the strategic role of green investments in the reconstruction of Ukraine's infrastructure and housing sectors within a sustainable development framework. The study emphasizes public-private partnership (PPP) mechanisms involving foreign investors, ensuring transparency of financial flows and minimizing corruption risks. Practical examples include the use of eco-friendly technologies, inter-municipal cooperation, and digital reconstruction management systems. Furthermore, the article examines the alignment of Ukraine's recovery strategies with the European Green Deal and EU standards. Statistical data from 2025 is analyzed to illustrate investment trends, funding allocations, and the effectiveness of green projects. The study concludes that green investment through PPPs can significantly accelerate Ukraine’s post-conflict recovery, enhance corporate financial development, and promote inclusive, environmentally sustainable practices. A strategic direction for the development of public–municipal–private partnerships in Ukraine, in the context of preparation for accession to the European Union, should be the orientation of local self-government bodies toward increasing the production of “green” energy and promoting small-scale distributed generation based on renewable energy sources. The number of requests submitted by municipal enterprises for small distributed generation projects is currently on the rise. While they receive partial support from local self-government bodies, the key challenge remains the provision of adequate financing for such projects. At this point, both the state and the private sector can play a crucial role; however, this requires the development of an appropriate partnership mechanism between these stakeholders. In addition, various international grant programs and specialized charitable foundations may be utilized to finance such initiatives. This, in turn, would expand the number of public–private partnership entities and increase the overall volume of funding allocated to these projects. The potential of inter-municipal–private partnerships is becoming increasingly evident each year through inter-municipal cooperation among territorial communities in the field of waste collection and processing, particularly municipal solid waste management.