Institutional support for sustainable development financing in the light of the multistakeholder approach

Inna Makarenko, Yulia Serpeninova, Kateryna Pogorila

Abstract


Purpose. The purpose of the article is to classify institutions funding sustainable development initiatives and to study their experience at the European and national levels.

Methodology / approach. As a meaningful methodological basis for the classification of the multilevel system of institutions, funding sustainable development initiatives, the multistakeholder approach is used and as a technical tool – typology method. Application of these methods, along with comparative analysis, allowed to generalize the experience of organizing institutional support for financing sustainable development initiatives at European and national level.

Results. In the world and the EU there is a significant number of institutions, which in their totality create institutional support for the financing of sustainable development, which determines the importance of their classification. Based on a comparison of European and national experience, it has been determined that the formation of a national strategy for sustainable development in Ukraine needs to strengthen the institutional capacity to finance activities and objectives in this area.

Originality / scientific novelty. The system of criterions for the development of standards, regulators, international organizations, which forms the institutional support for the financing of sustainable development based on the multistakeholder approach, has been developed.

Practical value / implications. The specified system of criterions allows to streamline the process of defining a conceptual framework for financing sustainable development initiatives, taking into account the institutional and regulatory environment and the prevailing interests of stakeholders.


Keywords


sustainable development financing; institutional support; goals of sustainable development; institute.

References


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