SPECIFIC FEATURES OF LEGAL REGULATION OF GREEN INVESTMENTS IN UKRAINE
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Abstract
Abstract. It is established that Ukraine has begun to develop legislation on legal regulation of green bonds since 2020, which are the financial instrument of green investment in accordance with European standards. However, the Law of Ukraine “On Investment Activity” does not contain norms that would regulate various legal relations associated with green investments. Green bonds are the new subtype of securities in Ukraine, since the legislation on capital markets did not provide the existence of such securities until 2020. It is emphasized that issues concerning the status, problems and perspectives of legal regulation of green investment; legal nature of green investment relations; specific features of the elements of legal relations on green investment; liability for non-fulfillment or improper fulfillment of obligations by legal relations participants in green investment; content of the notion of green investments; forms of existence of green investments are poorly studied at theoretical and legal level. Besides, there is no common opinion among scholars in defining the content of the concept of “green investments’’. Participants of investment legal relations in the field of green investment are classified into two groups: 1) a person implementing an environmental project and 2) a person providing finances for an environmental project. The legislator did not limit the possibility of acquiring the status of a person who implements an environmental project or a person who provides finances for an environmental project exclusively to subjects of private or public law. On this basis, we can talk about the mixed legal nature of relations in the field of green investment. It has been identified that green bonds are one of possible green investment instruments, but not the only one. The author has offered the definition of the concept of “green investments”, which should be understood as a set of property and intellectual values that have a price impact and are placed by the subjects of investment activity in an environmental project, with the aim to achieve an ecological and social effect and profit.
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investments, green investments, green bonds, investment activity, subject of investment activity, investment legislation, state support.
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