Implementation of the financial monitoring system into the Ukrainian enterprises activity based on the sustainable economic development and green financing concept

Abstract

The article provides information on the financial monitoring as a critical control points observation tool, which is implemented to prevent financial stability risks. The connection of the enterprises monitoring system with the directions of the sustainable and green economy goals is characterized. At the internal level, financial monitoring is a prerequisite for the green financing projects realization and is used to evaluate the effectiveness of their implementation. It is stated that the company’s financial monitoring system serves as the instrument of achieving the sustainable development and green economy goals through the production, financial, personnel institutions mechanism and the company’s resource efficiency. Thus, the capital growth and the improvement of enterprise’s value-oriented indicators contribute to the stakeholders benefits and attracts green financing. It should be noted that the State Financial Monitoring Service closely correlates with the national and global sustainable development strategy, it takes into account international recommendations in the combating financial crime. The legislation and financial monitoring system adaptation to risks and compliance with international standards will allow green projects transparency. The article clearly states the place of internal and state financial monitoring in green financing and emphasizes its importance in studying the investment climate for green economy.