This report covers the following topics:

Part I presents the green bond standards for EU, ICMA, ASEAN, China and UK respectively. It also presents the disclosure frameworks covering background, objectives, disclosure requirements and other issues for Sustainable Finance Disclosure Regulations (SFDR), Task Force on Climate related Financial Disclosures (TCFD) and Taskforce on Nature-related Financial Disclosures (TNFD) respectively. Part I then analyses the green bond standards for EU, ICMA, ASEAN, China and UK; and disclosure frameworks for SFDR, TCFD, and TNFD respectively. It finally recommends the best practice of green bond standard and disclosure framework suitable for Ukraine.

Part II establishes a set of regulatory and legal guidelines and procedures (Regulation) for Ukraine green bond market from the perspectives of: (i) mechanisms for financing and re-financing green projects, (ii) evaluating and selecting green projects, (iii) procedures for monitoring the use and management of funds, (iv) reporting standards, (v) control procedures, (vi) supervision by the National Securities and Stock Market Commission (NSSMC), and (vii) incentives for GB Issuance.

Part III and IV present a systematically legal and regulatory review of the Green Bond Market Concept (the Concept) and the Action Plan; and provides a set of recommendations based on the results of the review.

Part V estimates the potential volumes of the green bond market in Ukraine based on the current issuance and cumulative issuance of the green bonds, and their relationships with economic variables.