Assessment of the effectiveness of sustainable development management systems in the banking sector of Ukraine

Hryhorii Bukanov and І van Krutikov
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Hryhorii Bukanov: National University «Zaporizhzhia Polytechnic»
І van Krutikov: National University «Zaporizhzhia Polytechnic»

Economic Synergy, 2025, issue 4, 373-388

Abstract: The article is devoted to the development of a practical toolkit for assessing the effectiveness of sustainable development management systems in the banking sector of Ukraine amid the global transition to sustainability principles, wartime conditions, and European integration. The current state of implementation of such systems has been analyzed based on regulatory documents of the National Bank of Ukraine (Policy on Sustainable Financing until 2025, White Paper on Managing ESG Risks) and publicly available information on bank activities. It has been established that most institutions are at an early stage of maturity: declarative statements prevail, along with fragmented non-financial reporting of a descriptive nature and low quantitative disclosure of indicators. Notable progress is observed in state-owned banks (Ukrgazbank, Oschadbank) due to the development of green products and energy independence programs, while private banks lag behind due to weak integration of ESG risks. A toolkit for assessing the effectiveness of sustainable development management systems has been proposed, based on an integral maturity indicator comprising four weighted blocks: organizational and managerial, risk management, product-related, and reporting. An illustrative verification of the proposed toolkit using examples from the activities of banks in the Ukrainian banking sector as of 2025 revealed an average baseline maturity level with significant differentiation by ownership form.Recommendations have been formulated for the regulator, banks, and stakeholders regarding the strengthening of regulatory requirements and practices. The implementation of the toolkit will contribute to enhancing transparency, financial stability of the banking sector, and its role in the sustainable post-war recovery of Ukraine's economy.

JEL-codes: G21 G28 M14 Q01 Q5 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:bja:isteus:y:2025:i:4:p:373-388

DOI: 10.53920/ES-2025-4-26

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