Ternopil became the second city in Ukraine to implement a portfolio approach to urban development. Mykolaiv was the first to use it. 

The portfolio approach is a tool for solving problems in the process of urban transformation. Its goal is to select several interrelated options (projects) that will stimulate such a transformation. 

The portfolio approach is relevant for transformations in conditions of uncertainty. An important component of the approach is taking advantage of the learning process when implementing options. In addition, the portfolio approach applies flexible management, which enables a rapid response to changes and related challenges. 

Recently, the Ternopil authorities presented a portfolio entitled “Green and Comfortable City of Ternopil”, and set a course for the green transformation of the city. 

Green transformation is a transition to sustainable and environmentally friendly urban development, aimed at reducing the impact of human activity on the environment. This approach involves methods such as innovative technologies, renewable energy sources, rational use of natural resources, and environmentally friendly production and consumption methods. Green transformation is intended to create sustainable infrastructure and social systems that contribute to economic growth, conserve natural resources, and improve society's quality of life. 

Specifically, the portfolio options presented include:  

1. Updating the Community Development Strategy with a focus on green transformation; 
2. Creating a green zone in community’s territory using innovative approaches; 
3. Holding an Innovation Challenge for micro, small, and medium-sized enterprises;  
4. Creating a Green Transformation Hub. 

Implementation of the portfolio will lay the foundation for further community transformation. Ternopil will be able to develop its potential and receive additional support in such areas as training, innovation, and financing. It is also expected that the portfolio approach will strengthen the capacity of local government and enable inclusive economic growth. 

The portfolio will be implemented in the framework of the Mayors for Economic Growth initiative funded by the European Union and implemented by the United Nations Development Programme (UNDP). 

"The portfolio approach involves both the community and the authorities in urban transformation, to create the basis for comprehensive, deep, and sustainable changes. We are extremely pleased to be applying this approach in Ternopil, where UNDP already has a very wide presence: creating infrastructure for economic recovery; developing local initiatives; building capacity to develop and implement projects in the field of public services; and creating economic opportunities.", said Mustafa Sait-Ametov, UNDP Ukraine Regional Development Programme Manager.