Dmytro Zatonatskiy’s research while affiliated with Ministry of Health of Ukraine and other places

The integration of Environmental, Social, and Governance (ESG) criteria in investment decision-making is increasingly critical for evaluating energy projects. This study develops a structured, quantifiable framework using the Fuzzy DEMATEL method to assess and rank ESG factors, addressing the limitations of traditional scoring-based models. The proposed methodology systematically identifies the most influential ESG criteria and accounts for their interdependencies, providing a more comprehensive decision-making tool. The analysis, based on expert evaluations, highlights the dominant role of renewable energy integration, resource efficiency, and risk management in determining project sustainability. The results demonstrate that the framework ensures a more transparent and adaptable assessment process, supporting both investors and policymakers in navigating complex energy investment landscapes. The study also establishes a scalable approach that can incorporate financial performance indicators, enhancing the practical applicability of ESG-based investment evaluation.

This article embarks on a crucial exploration of the implementation and integration of environmental, social, and governance (ESG) criteria within the energy sector of European countries, with the ultimate objective of refining the energy legislation in Ukraine. The research delves into the evolving role of ESG standards as a cornerstone in corporate strategy and investment, transitioned from its roots in socially responsible investing to a comprehensive framework that intertwines ethical, environmental, and governance considerations with financial analysis. The main thrust of the study is the following: firstly, it provides a panoramic overview of ESG applications within European energy projects, underscoring pivotal policies, strategies, and instances of successful ESG standard incorporation. Secondly, it benchmarks and compares ESG practices across Europe’s energy sector to distill best practices and their consequential trends and impacts. Lastly, this study converges these European insights to forge pragmatic recommendations for Ukraine’s energy legislation, aiming for an elevated integration of ESG standards that are in step with European benchmarks. The anticipated outcomes offer recommendations for enhancing Ukraine’s energy sector with robust ESG standards, proposing steps that align with the country’s newly adopted Energy Strategy 2050 and international sustainability goals.

In response to global economic, social, and environmental problems, ESG investment principles have changed the approach to directing and structuring foreign direct investment. Additionally, they are becoming an essential factor in attracting migrants. This article aims to determine the impact of foreign direct investment on global migration trends and their peculiarities with the introduction of ESG investment principles. For this purpose, global foreign direct investment flows, global ESG investment flows, and global migration trends have been analyzed from 1995 to 2022. Pairwise correlation calculation was used as the primary analysis method through R-Studio software with integrated R programming language. The results indicated a 35% correlation between the volume of global ESG investment flows and the number of international migrants (as a percentage of the total population, which varies between 3.2% and 3.6%) for 2010-2022. Subsequently, regression analysis was conducted to explore the relationship between critical variables: investment flows and the level of migration in four European countries (France, Poland, the Czech Republic, and Germany). It was determined that investment inflows led to new jobs, accelerated economic growth, and improved business climate, thus encouraging reduced outflow and increased inflow of migrants. Investments based on ESG principles also reduce emigration as they enhance the quality of life in the host country, provide better environmental protection, and promote more transparent corporate management. However, it should be noted that investments have no apparent impact on migration caused by external factors such as wars or political conflicts, so such analysis should not include periods of global economic and political unrest.

Background: Migration processes play an important role in the economic development of a country and form the human resources necessary for developing countries. Therefore, forming a favourable legislative framework for a certain category of migrants affects the attraction of the necessary human resources for the country. Motivation: Generally, the level of immigration has risen over the last 50 years, and around 3.6% of the total population in the world are immigrants. Identifying the influencing factors that motivate people to migrate is very important. This understanding informs well-designed immigration and effective solutions for foreign policy. Aim: To analyse and model the impact of the factors influencing the choice of the destination country, examining what attracts a person to a country or, on the contrary, why a country may not be chosen. Additionally, this paper seeks to forecast the dynamics of immigration in Spain for 2022-2024 under the impact of selected factors for analysis. Methods: To create a regression model using the R-Studio software based on a data set for the 2000-2021 years. The scientific hypothesis is that the following could have an influence on the level of immigration to Spain: inflation, level of employment and education, government spending on social protection, the share of the ICT sector in the GDP of the country, as well as the economic crisis in the USA for 2007, and legal factor such as the presence of open borders for the African population in 2019, a characteristic not shared by other European countries. The last two indicators, proven significant in attracting immigrants, were incorporated into the model as dummy variables. Results and Conclusions: The research proved a non-linear negative impact of a logarithm of spending on social protection expenditure and the third degree of inflation-conversely, a positive impact of the third degree of employment level. Additionally, the forecast of immigration in Spain under the impact of the above factors was discussed. The paper will be of interest to the government since migration is not only important in terms of the country's demographic structure but also has a direct impact on a country's national economy. It can either strengthen or weaken the country's economic development, making it significant to policymakers.

The insurance market is an integral part of the country's financial system and is therefore extremely important for economic development. Any shocks in the insurance market may cause a slowdown in economic growth and development and have a negative impact on the country's financial system. The stability of the insurance market is ensured by the companies operating in it. That is why our analysis focuses on assessing the risk of insurance companies' bankruptcy and analyzing the main factors that affect the situation in the insurance market.This article analyzes the main approaches to assessing the risk of insurance companies depending on the size of the risk premium. A simple dynamic risk assessment model was applied.Our analysis of the literature has shown that general approaches to assessing the risk of insurance company failure depend on the overall situation in the country and the market itself. In countries with more frequent force majeure events, more complex and sophisticated models have been introduced to assess the required amount of risk premium to avoid bankruptcy.The market situation in Ukraine had been stable for a long time, but with the onset of the pandemic, certain problems began to arise. An analysis of one of the leading insurance companies in the market showed that before the war started, it had a bankruptcy risk close to zero. Unfortunately, it should be noted that military actions, which are force majeure circumstances, complicate the quantitative analysis, as Ukrainian companies do not have effective mechanisms to cover this type of risk.It is established that a company cannot arbitrarily determine the amount of risk premium based on its own needs. This value will also be influenced by external macroeconomic factors that will affect not only the overall economic situation but also all participants in the insurance market, including consumers of insurance services.

All rights reserved. Printed in the United States of America. No part of this publication may be reproduced, distributed, or transmitted, in any form or by any means, or stored in a data base or retrieval system, without the prior written permission of the publisher. The content and reliability of the articles are the responsibility of the authors. When using and borrowing materials reference to the publication is required. The collection of scientific articles published is the scientific and practical publication, which contains scientific articles of students, graduate students, Candidates and Doctors of Sciences, research workers and practitioners from Europe and Ukraine. The articles contain the study, reflecting the processes and changes in the structure of modern science.

All rights reserved. Printed in the United States of America. No part of this publication may be reproduced, distributed, or transmitted, in any form or by any means, or stored in a data base or retrieval system, without the prior written permission of the publisher. The content and reliability of the articles are the responsibility of the authors. When using and borrowing materials reference to the publication is required. The collection of scientific articles published is the scientific and practical publication, which contains scientific articles of students, graduate students, Candidates and Doctors of Sciences, research workers and practitioners from Europe and Ukraine. The articles contain the study, reflecting the processes and changes in the structure of modern science.

The problem of investment is one of the urgent issues for our country. Ensuring investment in critical infrastructure objects in conditions of hostilities and against the backdrop of the destruction of this infrastructure is associated not so much with economic growth as with the current survival of the country , burdened by continuous military actions. The need for more dynamic development of investment processes aimed at attracting ESG investments in critical infrastructure has been emphasized. The aim of the article is to explore the prospects of ESG investment in critical infrastructure during the post-war recovery period of Ukraine. It has been established that the ESG concept is a modern trend in the investment space that needs to be considered and implemented in practice. The importance of implementing ESG criteria has significantly increased in recent decades and is expected to grow even faster in the near future. Most infrastructure funds view ESG as a driving force that enhances the value and stability of portfolio companies against the backdrop of constant global changes. To benefit from the opportunities provided by ESG investment, it is necessary to consider ESG criteria (environmental, social, and governance) at every stage of the investment life cycle. ESG is increasingly becoming a requirement for investment compliance. It has been established that ESG investment, as the implementation of the ESG concept, contributes to positive changes in society, preserves the environment, etc. However, in the case of the urgent need for rapid and effective post-war recovery of critical infrastructure in Ukraine, it will significantly complicate the process since compliance with ESG criteria, which could be ignored earlier, will have to be followed. The need to change the regulatory framework regarding the inclusion of ESG investment specifics and to transform approaches to investment in the domestic business community is mentioned because the international business community seeks to invest its capital in enterprises and territories that meet ESG criteria. For Ukraine, transformation aimed at meeting the requirements for ESG investment is both a challenge and a necessity for integration into global investment processes.

Introduction. The European integration course actualizes the need for more dynamic development of all processes aimed at the formation of digital infrastructure in Ukraine. Strengthening existing and forming new elements is one of the priority directions of the state policy of countries in the context of the transition to the digital economy. Problem Statement. The use of an institutional approach will make it possible to explain the current state and predict further ways of development of the digital infrastructure of Ukraine. Purpose.To assess the state and prospects of institutional support for the formation of Ukraine's digital infrastructure in the context of European integration processes and to develop recommendations to facilitate investment in it. Methods. The methods of dialectical logic, sociological, theoretical generalization and comparison, abstract-logical, scientific generalization are applied. Given the multifaceted nature of the research subject, the methodological basis is formed by such methods as graphic, structural-functional, and expert evaluations. Results. It was established that the institutional support for the formation of digital infrastructure is the actions of the authorities aimed at the creation of state and non-state institutions, which must provide legal, organizational and economic foundations for changing models of public management and administration, the functioning of business entities through the dominant use of technologies, products and processes using computing, telecommunications and network capabilities of electronic interaction, data exchange, signals, etc. and operate on a digital rather than analog basis. The legal basis for the formation of digital infrastructure is analyzed. The organizational basis includes the presence of relevant institutions in the state both public and private, which are part of the digital infrastructure and ensure its functioning (the state in the form of state authorities (state institutions), business entities and non-profit organizations (private institutions) ). Conclusions. Since the economic base is based on own funds and involved investments, it is proposed: at the legislative level to adopt a strategy for the development of digital infrastructure taking into account European integration processes; attract investments and invest in knowledge and human capital; initiate the creation of crowdfunding platforms, which will facilitate the search for investors for the implementation of startups in the field of digital infrastructure. As part of the development of digital infrastructure, it is proposed to shift the main attention to the development of network and information infrastructure.