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УДК 336:502/504:330:34

DOI: https://doi.org/10.36887/2415-8453-2025-1-39

Kapaieva Lyudmila,
PhD in Economics, Associate Professor, Professor of the Department of Finance, Banking and Insurance,
Poltava State Agrarian University
https://orcid.org/0000-0001-5098-7147
Rudych Alla,
PhD in Economics, Associate Professor, Professor of the Department of Finance, Banking and Insurance,
Poltava State Agrarian University
https://orcid.org/0000-0002-5416-4508
Doroshenko Andriy,
PhD in Economics, Associate Professor, Professor of the Department of Finance, Banking and Insurance,
Poltava State Agrarian University
https://orcid.org/0000-0002-6314-1586

JEL classification: Q01; E60

The article substantiates the need to address the challenges associated with the impact of anthropogenic and technogenic factors on the environment, which were formulated for the international community as the Sustainable Development Goals. It is emphasized that ensuring the transition to new principles of sustainable development is critical, while the current classical economic paradigm makes it impossible. The author considers the key problems of the classical economic paradigm, which seeks to use the resource potential of the planet in a controlled manner to ensure the growth of the population’s welfare. Classical scientific concepts do not help to overcome economic and social crises; they only allow them to be leveled somewhat. The relevance of transforming the principles of socio-economic relations given the current crises and challenges is determined. The author substantiates the need to define the conceptual basis for socio-economic development, which should be the doctrine of physical economy. It is noted that Ukraine is at the center of the world’s socio-economic problems, and the current issues have become even more acute, including due to military aggression. The author reveals the key ideas of the physiocratic economic concept, which are the basis for transforming socio-economic changes. Particular attention is paid to the disclosure of the achievements of domestic scientists and followers of physiocrats. The most important achievements of the national scientists S. Podolynskyi and V. Vernadskyi and their significance for building a modern physiocratic economic paradigm are described. The necessity of practically implementing this paradigm and its modern rethinking for sustainable development goals is substantiated. The author reveals the need to understand the essence of ‘finance’ as an economic category, which should become the basis of the updated physiocratic economic concept to ensure the well-being and harmonization of humanity and the environment. The key problems of limited perception of this scientific category and lack of ethical and philosophical understanding of financial phenomena and processes are identified. The ‘green’ finance category is considered the fundamental basis for developing a ‘green’ economic system. Particular attention is paid to the ambiguity of the interpretation of the concept of ‘green’ finance, the need to perceive it as an economic category is emphasized, and the instrumental and institutional approach should be considered auxiliary. The features of the updated meaning and properties of the financial system components for achieving sustainable development goals are demonstrated. The main directions for transforming the financial system in areas and links to achieve these goals are presented.

Keywords: physiocrats, energy budget of the planet, doctrine of the noosphere, finance, financial system, ‘green’ economy, ‘green’ finance, financial system of sustainable development.

Rеferences

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The article was received 07.01.2025

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Kapaieva Lyudmila, Rudych Alla, Doroshenko Andriy. 07.01.2025 . Transformation of the conceptual framework and system of green finance to ensure the implementation of sustainable development goals. The journal "Ukrainian Journal of Applied Economics and Technology". 2025 / #1. 237-241pp. https://doi.org/10.36887/2415-8453-2025-1-39

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Kapaieva Lyudmila, Rudych Alla, Doroshenko Andriy. "Transformation of the conceptual framework and system of green finance to ensure the implementation of sustainable development goals". The journal "Ukrainian Journal of Applied Economics and Technology". 07.01.2025 . https://doi.org/10.36887/2415-8453-2025-1-39

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