Abstract:
Financial and legal instruments for promoting the implementation of sustainable
development policy of the state (states, regions) require a detailed study of the application of
financial and legal instruments for the implementation of the Global Sustainable
Development Goals by 2030. The EU financial instruments provide funding for the goals and
policies of sustainable development of the state or the region through the involvement of
budgetary and private financial resources. The purpose of the research is to analyze the
existing practice of promoting the implementation of sustainable development policy of the
state (states, regions) in the EU countries through the use of financial and legal instruments
in order to provide investors with economic returns in accordance with probable risks, while
promoting sustainable development goals. The research methods are as follows: comparative
analysis; statistical analysis; systematization, generalization. Results. Financial and legal
instruments are measures of financial and legal support provided on an additional basis from
the budget in order to promote the implementation of the policy of sustainable development of
the state. It has been established that the sustainable development goals, namely: 1, 2, 4, 5,
10, 11, 16 and 17 are connected with the fewest of financial and legal instruments.
Sustainable and green bonds that best contribute to objectives 7 (Affordable and Clean
Energy), 11 (Sustainable Urban and Community Development) and 13 (Climate Change
Mitigation) have been identified as perspective and promising financial and legal
instruments. The financial and legal instruments towards supporting small and medium-sized
enterprises, research and innovation and a low-carbon economy are the most popular in the
EU.
As a result of the research conducted, it has been found that financial and legal
instruments towards promoting the implementation of sustainable development policy direct
financial resources to the implementation of certain goals, thereby forming a gap in the
implementation of the Global Sustainable Development Goals by 2030. It has been also
revealed that during the programming period, financial and legal instruments were installed
exceptionally slowly; as a result, by the end of 2016, less than 5 percent was actually invested
than planned.
