Mapping Of The Responsible Investments Instruments In Sdg 3 ‘Good Health And Well-Being’ Financing: EU And US Experience

Abstract

This article summarizes the existing approaches to investigating instruments of responsible investments in the health care system in Europe and in United States. The main research’s purpose is to identify existing instruments of responsible investment under funding Sustainable Development Goal 3: ‘Good health and well-being’. Systematization of scientific sources and approaches on the investigated issue showed no unique approach to forming a list of responsible investment instruments to finance health and well-being in Europe and United States. Hence, existing approaches vary by risk, return, suitability for financing, and so on. Therefore, the analysis and generalization of existing approaches and investigating their implementation-related practical features are the relevant scientific problem. The research’s object is the health care financing approaches of the generally recognized organizations such as the Financial Initiative for Biodiversity under the United Nations Development Program, the United States Agency for International Development and the World Bank (Biodiversity Finance Initiative United Nation Development Program, USAID, World Bank). The authors noted that these organizations contributed greatly to provide funding for these projects at the global level. For gaining the research’s goal, this study was conducted in the following logical sequence. Firstly, the authors characterized the Biofin financial decisions in health care under the United Nations Development Program. Secondly, the study systematized the U.S. Agency for International Development financing approaches regarding the Sustainable Development Goal 3. Then, the authors generalized the practical directions towards realizing the mentioned above instruments while digging into the World Bank responsible investment activity regarding health care. The study suggested the typology method to identify the key criteria for classifying responsible investment instruments. In turn, the mapping method was used to generalize the scientific background concerning health care finance. Therefore, the findings could help scientists further develop and unify the classification of responsible investment instruments regarding sustainable development and health care financing based on EU and US experience. Moreover, the obtained results enrich the existing global approaches in funding the national health care system and reaching the established Sustainable Development Goals 3 ‘Good health and well-being’.