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The Facility for Rare Isotope Beams (FRIB) began operation with 1 kW beam power for scientific users in May 2022 upon completion of 8 years of project construction. The ramp-up to the ultimate beam power of 400 kW, planned over a 6-year period, will enable the facility to reach its full potential for scientific discovery in isotope science and applications. In December 2023, a record-high beam power of 10.4 kW uranium was delivered to the target. Technological developments and accelerator improvements are being made over the entire facility and are key to completion of the power ramp-up. Major technological developments entail the phased deployment of high-power beam-intercepting systems, including the charge strippers, the charge selection systems, the production target, and the beam dump, along with support systems, including non-conventional utilities (NCU) and remote handling facilities. Major accelerator improvements include renovations to aging legacy systems associated with experimental beam lines and system automation for improved operational efficiency and better machine availability. Experience must be gained to safely handle the increased radiological impacts associated with high beam power; extensive machine studies and advanced beam tuning procedures are needed to minimize uncontrolled beam losses for the desired operating conditions. This paper discusses the technological developments and accelerator improvements with emphasis on major R&D efforts.

This paper explores the issue of “stolen” Ukrainian universities. Over 1,500 Ukrainian educational and research organizations have been seized by Russia, including 289 higher education institutions such as universities, institutes, academies, colleges, and their branches. These institutions are now exploited to further Russia’s geopolitical agenda through propaganda, territorial annexation justification, and the assimilation of the Ukrainian population in occupied regions. The study examines this using the following examples: the perception of stolen Ukrainian universities as Russian entities by international organizations and academic communities; recognition of stolen Ukrainian intellectual property as Russian, with silent approval or facilitation, such as the registration and confirmation of stolen Ukrainian academic journals by the International ISSN Centre. The paper highlights the use of these stolen institutions’ resources as propaganda tools, their role in ideological manipulation, and their contribution to the assimilation of occupied territories. Recommendations include removing stolen universities from academic affiliations and databases, revoking ISSN registrations for stolen Ukrainian journals, and urging COPE to issue ethical guidelines for preventing collaboration with stolen universities. Additionally, it emphasizes the need for Ukrainian authorities and the academic community to engage proactively with global publishing institutions, database owners, and organizations handling publishing ethics to address these challenges. By bringing attention to this “silent war on knowledge”, the paper underscores the urgency of addressing the misuse of stolen academic institutions by Russia to uphold the integrity of global academia and international law.

This paper examines the advantages and disadvantages of imposing sanctions on russian science, along with the measures enacted to penalize or restrict it. Proponents of sanctions argue that accountability is essential, and a tangible cost must be imposed for russia’s actions. Sanctions can serve as a signal to end war and aggression, weaken russia’s economic foundation, and exacerbate brain drain, potentially hindering the development of military technologies and reducing russia’s capacity to sustain its aggression. Furthermore, some russian academics openly support the war and should be held accountable for their stance. However, significant opposition to sanctions exists. A prevailing argument, often mirrored in fields like sports and culture, is that science should remain apolitical. Critics contend that sanctions disrupt the free exchange of ideas, penalize innocent individuals, and may harm global scientific progress and human development, given russia’s integral role in international research. Additionally, sanctions are often criticized as costly and inefficient. Despite these debates, a variety of restrictive measures targeting russian science have been implemented. These include funding cuts, suspension of collaborations, termination of joint projects, and exclusion of academics linked to the russian regime. Other measures involve companies closing R&D facilities in russia, restrictions on scientific equipment and reagents, boycotts of russian-organized conferences, and the suspension of international research partnerships. This study synthesizes the arguments for and against sanctions on russian science and provides an analytical discussion to shape a nuanced perspective on this complex issue.

This paper delves into the challenge of financing Sustainable Development Goal 3 “Ensure healthy lives and promote well-being for all at all ages” (SDG 3). Despite its ambitious nature, the achievement of this goal has been hindered by a substantial lack of funding. The study aims to investigate potential sources to bridge the investment gap in SDG 3, analyzing data from 28 European countries. This includes factors such as the index and progress in sustainable development, sources of investment resources, and healthcare costs for 2020. Logit and probit regression models are employed for the analysis. The results indicate the absence of a statistically significant relationship between the volume of investments from the state, businesses, and households of countries and their level of SDG 3 achievement. However, an interesting finding emerges regarding healthcare expenditures under state insurance programs among European countries, which show a greater extent of progress in achieving SDGs compared to voluntary insurance programs. The paper emphasizes the importance of a balanced approach that uses multiple funding sources and the need for focused policies and partnerships to mobilize resources to ensure healthy lives and promote well-being for all at all ages. AcknowledgmentAlex Plastun gratefully acknowledges support from the Ministry of Education and Science of Ukraine (№ 0121U113830).

This paper investigates the persistence in the cryptocurrency market, focusing on five distinct groups categorized by their market capitalization during the sample period from 2020 to 2023. The study aims to test two hypotheses: (H1) The degree of persistence in the cryptocurrency market is contingent on market capitalization, and (H2) The efficiency of the cryptocurrency market has increased in recent years. The methodology employed for this examination is R/S analysis. The results indicate that the cryptocurrency market maintains its inefficiency, and no significant variations in persistence are discerned among different cryptocurrency groups, leading to the rejection of H1. Outcomes related to H2 present a nuanced scenario. Specifically, Litecoin and Ripple exhibit supportive evidence for the Adaptive Market Hypothesis, suggesting an improvement in the efficiency of the cryptocurrency market in recent years. A noteworthy revelation pertains to the anomaly observed in Bitcoin. Despite being the most capitalized and liquid cryptocurrency, it demonstrates inefficiency akin to levels observed five years ago. The implications of this study contribute to the comprehension of cryptocurrency market efficiency. The findings challenge the assumptions of the Efficient Market Hypothesis, favoring instead the Adaptive Market Hypothesis. For practitioners, the results hold significance, providing evidence of price predictability, particularly in the case of Bitcoin. This suggests that trend trading strategies remain viable for generating abnormal profits in the cryptocurrency market. Acknowledgments Alex Plastun gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0121U100473).

AbstractThis paper examines price effects related to witching days in the US stock market using both weekly and daily data for three major indices, namely the Dow Jones, S&P500 and Nasdaq, over the period 2000–2021. First it analyses whether or not anomalies in price behaviour arise from witching by using various parametric (Student’s t-test, and ANOVA) and non-parametric (Mann-Whitney) tests as well as an event study method and regressions with dummies; then it investigates whether or not any detected anomalies give rise to profit opportunities by applying a trading simulation approach. The results suggest the presence of the anomaly in daily returns on witching days which can be exploited by means of suitably designed trading strategies to earn abnormal profits, especially in the case of the Nasdaq index. Such evidence is inconsistent with the Efficient Market Hypothesis (EMH).

This paper explores market efficiency in the Ukrainian stock market to determine whether there are differences between traditional and ESG indices. Different data properties related to market efficiency are explored: persistence (R/S analysis is used for these purposes), stationarity (ADF tests), normality (Kolmogorov-Smirnoff, Anderson-Darling test, etc.), resistance to market anomalies (Day of the week effect, abnormal returns and patterns they generate are tested using parametrical and non-parametrical statistical tests), etc. Database includes daily data from 2 conventional Ukrainian stock market indices (UX and PFTS) and ESG index (WIG Ukraine) over the period 2015–2022. The following hypothesis is tested in this paper: ESG indices are more efficient than traditional ones. The findings suggest that there are no significant differences between traditional and ESG indices: they have the same persistence, stationarity, do not fit normal distribution and are not influenced by explored market anomalies. So, despite the fact that companies listed in the ESG index are more transparent and thus characterized by lower information asymmetry, they are more liquid and popular among investors, ESG index is not more efficient than traditional ones. This might be the result of unfair practices called “washing” aimed at signaling the active ESG involvement with actual absence of it. This means that many ESG companies are actually traditional. To prevent such practices, the ESG reporting regulation needs to be revised. AcknowledgmentAlex Plastun gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0121U100473).

Background and Objectives: Succinic acid is widely used in medicine, in particular, in the treatment of cardiological, neurological and endocrinological diseases. An urgent task of pharmacology is to increase the degree of bioavailability and solubility of drugs. One of ways to increase the therapeutic effect of drugs is the development of their polymorphic modifications, which contribute to a more pronounced therapeutic effect. One of ways to obtain new forms of succinic acid with better solubility and bioavailability is polymorphic modification nanotechnology based on the recrystallization of organic substances. We analyze the conformers and the influence of the aqueous environment on the physical-chemical properties of succinic acid. Materials and Methods: Spectral manifestations of modified succinic acid polymorphism and aqueous environment influence on spectral and energy characteristics are investigated on the integrated approach (experiment, theory) basis. The IR spectra of succinic acid are measured in the region of 600–4000 cm−1. The structures of an isolated molecule and a fragment of a chain associate of succinic acid conformers and their complexes with water are calculated using the density functional theory (DFT). The IR spectra and structures of complexes are calculated and compared with experimental data. The effect of hydrogen bonding on physical-chemical properties of succinic acid under recrystallization conditions is evaluated. Results: As a result of research, various succinic acid structures have been considered, as a result of which, by analyzing the energy difference, variants of conformers have been found both for one molecule and for the succinic acid dimer of the chain associate fragment. When water molecules are added, the characteristic peaks of the high-frequency region of the spectrum are shifted, that indicates the formation of hydrogen bonds. Conclusions: As a result of studies of the recrystallizated succinic acid physical-chemical properties a change in the crystal morphology has been detected based on the results of scanning electron microscopy. Water molecules, which remain in the structure of the modified molecular complex, have a great influence on the spectral characteristics of succinic acid. This has been discovered by comparing experimentally measured and calculated IR spectra of modified succinic acid. When water molecules are added to the conformers of an isolated molecule and a fragment of a chain associate of succinic acid, a shift of the characteristic peaks of the high-frequency spectral region corresponding to the valence vibrations of the O-H bond of the hydroxyl group of succinic acid is observed, that indicates the formation of hydrogen bonds. Analysis of interaction of succinic acid with water molecules indicates that during the preparation of polymorphic modifications, after the freeze-drying stage, water molecules are present in the modified succinic acid. In turn, the presence of the interaction of succinic acid with water molecules promotes stronger hydrogen bonding, that leads to a change in the physical-chemical properties of succinic acid.

This paper examines the relationship between traditional and ESG stock market indices and the net international investment position for the case of Austria and Ukraine. For these purposes, the following methods are used: variance analysis, ANOVA analysis, correlation analysis, VAR analysis, R/S analysis, and Granger causality test. According to the results, ESG indices are less volatile than conventional ones. Based on the correlation analysis, it is concluded that there is a significant direct connection between ESG indices and their traditional counterparts (0.98 for Austria and 0.68 for Ukraine). A substantial level of persistence in Austria’s investment position indicates the possibility of using autoregression models for forecasting. The results of the net investment position modelling for the case of Austria showed a statistically significant impact of stock market indices on the net investment position. But for the case of Ukraine, this impact is insignificant. This is indirect evidence in favor of poor performance of the Ukrainian stock market. Further development of Ukrainian stock market is required, because Austrian experience showed that stock market can be used as a transmission mechanism in boosting investment position both within conventional approach and ESG. Acknowledgment Alex Plastun, Mario Situm, Inna Makarenko, and Yulia Serpeninova gratefully acknowledge support from Ministry of Education and Science of Ukraine (0122U002659).

Purpose. The purpose of the article – to explore transparency under sustainability among agricultural companies in Ukraine (company “Kernel”) and the Czech Republic (company “Agrofert”) with further recommendations and implications related to reporting. Methodology / approach. Qualitative estimations of sustainability transparency are based on Sustainability Transparency Index (STI) calculations. Methodology of this index is based on binary estimations of a number of transparency criterions including links to sustainability information; existence of sustainable development policy; availability of sustainability and SDG reports; disclosure according to ESG criteria and specifics SDGs as well as other relevant goals related to SDG and sustainable development. Results. Sustainability transparency from 2016 till 2019 in Agrofert and Kernel was almost the same. But since 2019 after Kernel introduced a number of steps to increase its transparency the situation has changed dramatically. STI index has increased from 32 in 2019 to 80 in 2021. STI values for Agrofert were unchanged in 2020 (the latest available period of analysis). As a result, Kernel’s financial results and indicators have demonstrated significant improvement both absolute and relative. For example, net profit increased by more than 1000 %, investment cash-flow by 100 %, ROE – by 500 % and ROIC by 140 %. Originality / scientific novelty. New empirical results based on qualitative estimations of sustainability transparency for the agriculture companies from different countries are provided. Current study covers the existing research gap, proved by bibliometric analysis tool, for instance in pure academic discussion in measurement, comparison and benchmarking of agricultural companies’ transparency for the responsible investment purpose. Recommendations for sustainability transparency improvement are proposed. They are intended on better perception of sustainability ideology and incorporation of ESG/SDG criterion by agriculture companies in Ukraine and especially Czech Republic, levelling the informational asymmetry and moral risks for their investors and create better investment rationale for decision making under sustainability. Practical value / implications. The most efficient steps include the following ones: development and implementation of sustainability policy; emergence of specific reports based on ESG criteria; implementation of SDGs in activity of the company with further prioritization of these criteria within two groups. Further study in this field might be devoted to sustainability transparency comparison for agriculture companies in different branch in Ukraine and Czech Republic. Spreading the scope and sample of research allows making cross-industries STI benchmarking analysis.

This paper explores the influence of traditional and ESG stock market indices on a country’s net international investment position. To do this, different methods, including ANOVA analysis, multiply regression analysis, correlation analysis, VAR-analysis and R/S-analysis, as well as the Granger causality test, are applied to quarterly data on the net international investment position, traditional and ESG indices from Finland, Sweden, France, Spain and Ukraine over the period 2005–2021. The results of descriptive statistics show that ESG indices are more volatile than traditional, but these differences are statistically insignificant according to ANOVA analysis. Correlation analysis provides direct evidence that ESG indices are highly correlated with their traditional analogues (correlation level varies from 0.88 to 0.96). Regression analysis results show that traditional and ESG stock market indices have no significant impact on the net international investment position. ESG stock market indices and net international investment position data are persistent, and autoregressive models can be applied to these data sets. On average, Hurst exponent is above 0.75 for the case of ESG indices and above 0.85 for the net investment position. This paper provides recommendations to improve the responsible investment framework. Acknowledgment Alex Plastun gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0121U100473).

Immunoglobulin and tumor necrosis factor complex formation, which is the basis of immunosuppressive drug etanercept therapeutic action, has been studied using quantum chemical modeling and molecular dynamics. The effect on the possibility of cyanine 7 on hydrogen bonds formation between amino acids from tumor necrosis factor and immunoglobulin has been considered. Analysis of dye effect on tumor necrosis factor and immunoglobulin complexation is caused by need for its use as a fluorescent label of etanercept when studying this drug passing through vessels and tissues of body in vivo. Computer simulation was based on molecular structures and IR spectra calculation using the density functional theory methods, followed by an analysis of formed hydrogen bonds parameters, as well as on the study of tumor necrosis factor protein structure dynamics. It has been found that cyanine 7 has a weak effect on amino acids complexation and, therefore, does not lead to therapeutic effect decrease, which makes it possible to use cyanine 7 for labeling etanercept.

Almost all human activity spheres, from the health care system to the education system, were unprepared for the pandemic. This, in turn, has slowed down the progress in achieving sustainable development goals. The Sustainable Development Goals 4 “Quality Education” and 8 “Decent Work and Economic Growth” were particularly vulnerable. In addition, the widespread concern was caused in the context of the transition to a “knowledge-based economy”. This paper analyzes the readiness of the scientific community to provide preconditions for the acceleration of these SDGs achievements. To do this, a meta-analysis of the academic literature on SDG 4, SDG 8, and the knowledge-based economy during 2015–2021 was conducted. Several special methods and instruments were used, including Scopus, WoS, VosViewer, Publish or Perish, Google Trends, and Google Books Ngram Viewer. The results show the inability of the modern academic community to provide a theoretical and empirical framework for a successful transition to a knowledge-based economy, taking into account the need to achieve sustainability. This is partly due to the relative subject novelty and the lack of academic attention. The challenges posed by the pandemic (lockdowns, unemployment, closing of educational institutions, financial flows reorientation, etc.) together with potential threats (new pandemic, climate change, population displacement, armed conflicts, etc.) necessitate a radical intensification of academic activity in economics to achieve SDGs.

Background and Objectives: Polyelectrolyte capsules are one of the most promising materials for targeted drug delivery – one of the rapidly developing areas of modern chemistry, pharmacology and medicine. They have a wide range of applications due to various methods of controlling their physical and chemical properties. In this paper, the possibility of drug delivery and retention in cells due to the formation of hydrogen bonds between a polyelectron capsule and highly toxic drugs on the example of mitoxantrone is investigated by molecular modeling. Materials and Methods: Using molecular modeling by the B3LYP density functional theory method with a base set of 6–31 G (d), we analyze the formation of hydrogen bonds and their effect on the IR spectra and structure of the molecular complex formed as a result of the interaction of the drug mitoxantrone and polyelectrolyte capsules consisting of polyarginine and dextran sulfate. Due to the large size of the polyarginine molecule, which consists of repeating fragments, one link is used in the work, namely arginine. Results: As a result of calculations, various variants of molecular complexes consisting of mitoxantrone, polyarginine and dextran sulfate were considered. The results have shown that dextran sulfate forms weak hydrogen bonds with polyarginine and with mitoxantrone. Polyarginin forms strong and close to strong bonds with mitoxantrone. Conclusions: Based on the results obtained, it can be concluded that polyarginine plays a significant role as a substance that holds mitoxantrone in the capsule, and dextran sulfate, on the contrary, plays the role of a buffer substance. Encapsulation can be considered as one of the main mechanisms of targeted drug delivery and their retention in the cells and, thus, increasing the therapeutic effectiveness of drugs.

This paper explores price effects in the “passion investments” market after days with abnormal returns. To do this, daily prices for stamps and diamonds over the periods 1999–2021 and 1989–2021 are analyzed. The following hypothesis is tested: One-day abnormal returns create stable patterns in price behavior on the next day. Statistic tests (t-test, ANOVA, Mann–Whitney U test, modified cumulative abnormal returns approach, regression analysis with dummy variables) confirm the presence of price patterns related to extreme returns: price fluctuations on the day after extreme returns are higher than returns on “normal” days. On the days after positive abnormal returns, the momentum effect is detected. Contrarian effect is typical for the days after negative abnormal returns. A trading strategy based on detected price effects showed the presence of exploitable profit opportunities. Results of this paper provide additional pieces of evidence in favor of inconsistencies between the efficient market hypothesis and practice and can be used by traders to generate extra profits in the “passion investments” market. Acknowledgment The authors gratefully acknowledge financial support from the Ministry of Education and Science of Ukraine (0121U100473).

2020 revealed the vulnerability of the healthcare systems in most countries. It also highlighted their failure to generate serious progress in the fulfillment of Sustainable Development Goal 3 (SDG 3): Ensure healthy lives and promote welfare for all at all ages. One of the key problems inhibiting its progress is the lack of financial resources. Based on a comprehensive meta-analysis of the literature related to SDG 3 and its investment, it aims to demonstrate that lack of appropriate academic support is a part of the failure to generate serious progress in the fulfillment of SDG 3. To do this academic literature published in the period 2010–2019 is analyzed. SciVal Elsevier, VosViewer, and Google Trends tools are applied for analysis. The results show that there is a significant interest in the academic circles on SDG 3 alone. However, this interest is concentrated toward its medical aspects while economic aspects, including investment, are poorly represented. This study shows that the reason for the current investment gap in SDG 3 is the lack of academic support to provide a theoretical, methodological, and analytical framework for tackling the financing problem for SDG 3.

This study aims to conduct a comparative analysis of the SDG in healthcare achievement in Austria and Ukraine and to determine possible lessons for Ukraine based on best EU and world experiences. To identify existing challenges and perspectives a comparative analysis of key indicators of healthcare expenditures and health financing systems in Austria and Ukraine was carried out. Results indicate that in Ukraine there is a substantial lack of public funding for healthcare (only 682 US dollars per capita in 2018), a poor share of voluntary health insurance (less than 1%), significant amounts (on average 50%) of expenditures of the population in general spending on health. On the contrary, in Austria, there is sufficient public funding for healthcare (5,879 US dollars per capita in 2018), more than 5% share of voluntary health insurance, moderate amounts (on average 25%) of expenditures of the population in general spending on health. Austria’s experience as an EU-member country with a successful example of a financing strategy for the healthcare system is a sound example for Ukraine. The alternative financing tools (e.g. result-based financing, impact investment, public-private partnership) can be used as an additional financing mechanism of healthcare funding in Ukraine. The use of these instruments along with the improvement of the fiscal policy, social security, and governance based on Austrian experience can cut the existing financing gap to achieve SDG targets in healthcare in Ukraine. AcknowledgmentThis study is financed equally by the Austrian Federal Ministry of Education and Science and the Ministry of Education and Science of Ukraine.

This paper explores some Sustainable Development Goals (SDGs – 2 and 12) in agriculture for the Czech Republic and Ukraine. The idea is to find out best practices in implementing SDGs 2 and 12 within the responsible investment framework. For these purposes, benchmarking (comparative analysis) is used. Using data over the period of 2017–2020, a general comparative review of global and national targets of SDGs 2 and 12 in Ukraine and the Czech Republic is provided. The results justify the merely incorporation and compliance of these targets at the national and global levels. The identified problems in achieving SDG 2 and SDG 12 are common for Ukraine and the Czech Republic and relate to unequal access to investment and financial resources. Recommendations and solutions to the most important problems based on the responsible investment instruments are proposed in this paper. The research findings can be useful for regulators (both in agriculture and in the financial market), companies and a wide group of other stakeholders in promoting responsible investment to make more comprehensive progress towards SDG 2 and 12 in Czech Republic and Ukraine by 2030. AcknowledgmentAuthors are grateful to the Czech government for the support provided by the Ministry of Foreign Affairs of the Czech Republic, which allowed this scientific cooperation to start within the project “AgriSciences Platform for Scientific Enhancement of HEIs in Ukraine”.

This paper analyses the explanatory power of the frequency of abnormal returns in the FOREX over the period 1994–2019. The following hypotheses are tested: frequency of abnormal returns is asignificant driver of price movements (H1); it does not exhibit seasonal patterns (H2); it is stable over time (H3). For our purposes avariety of statistical methods are applied including ADF, PP and KPSS tests, Granger causality tests, correlation analysis, regression analysis, Probit and Logit regression models. No evidence is found of either seasonal patterns or instability. However, there appears to be astrong positive (negative) relationship between returns in the FOREX and the frequency of positive (negative) abnormal returns. On the whole, the results suggest that the latter is an important driver of price dynamics in the FOREX, is informative about crises and can be the basis of profitable trading strategies, which is inconsistent with market efficiency.

Abstract The Facility for Rare Isotope Beams (FRIB) will be a new scientific user facility that produces rare-isotope beams for experiments from the fragmentation of heavy ions at energies of 100–200 MeV/u. During the projectile fragmentation, the rare isotope of interest is produced along with many contaminants that need to be removed before the beam reaches detectors. At FRIB, this is accomplished with a magnetic projectile fragment separator. However, to achieve higher beam purity, in particular for proton-rich rare isotopes, additional purification is necessary. RadiaBeam in collaboration with Michigan State University (MSU) has designed a 20.125 MHz radiofrequency (RF) fragment separator capable of producing a 4 MV kick with 18 cm aperture in order to remove contaminant isotopes based on their time of flight. In this paper, we will discuss the RF and engineering design considerations of this separator cavity.

This paper explores the influence of the ESG disclosure regulation (government corporate ESG disclosure and non-government corporate ESG disclosure) on the ranking in 50 largest economies. Applying various statistical methods and techniques, including both parametrical (Student’s t-test, ANOVA analysis) and non-parametrical (Mann-Whitney U test) tests, simple average analysis, OLS with dummy variables method and multiple linear regression analysis, as well as correlation analysis and Granger causality test, several hypotheses are tested. The hypotheses stipulate whether or not ESG disclosure regulation differs in developed and emerging countries and whether or not ESG disclosure regulation influences the country’s SDGI ranking, as well as the ranking of the country among 50 largest economies. According to the results, the differences in ESG disclosure regulation are statistically significant in developed and emerging countries. The level of ESG disclosure compliance is higher in developed countries. ESG disclosure regulation influences the position of the country in SDGI and 50 largest economies rankings. The more country complies with ESG disclosure criteria, the better position in rankings is. Incorporation of ESG criteria is an important evolutionary step in economic development of the country. It allows increasing position of the country in 50 largest economies and SDGI ranking. Thus, ESG disclosure regulation is vital for the development of the country in the modern world. AcknowledgmentComments from the Editor and anonymous referees have been gratefully acknowledged. Alex Plastun gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0117U003936). Inna Makarenko gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0117U003933).

Purpose. The aim of the article is to study the role of public investment policy in financing sustainable development and the concepts of responsible investment as an applied tool and mechanism for implementing this policy. Methodology / approach. The role of the public investment policy in financing sustainable development was investigated within the structural-and-functional analysis, which allowed investigating it by sectors and directions of financial flows and stages of the investment chain, directions of interventions, as well as bodies implementing this policy. Results. The article explores the concepts of responsible investing as an applied tool and mechanism for implementing public investment policy. The relationship between ESGs – investment decision criteria and sustainable finance categories – is identified. The relationship between investment resources, the direction of financial flows and stages of the investment chain, and the role of public investment policy within the financial system of sustainable development by economic sectors and its key directions are determined. Originality / scientific novelty. Aspects and measures of the public investment policy according to the Sustainable Development Goals are analysed. Based on this, a two-level theoretical and methodological approach to determining the role of public investment policy and the place of responsible investing mechanism in the formation of a financial system oriented towards the achievement of these goals is developed. The identified areas of public investment policy are first and foremost consistent with the priority directions of reforming the financial systems of the countries of the world on the principles of sustainable development, and associated with certain entities of the investment chain in view of their relevance and priority, as well as the lack within the national financial infrastructure and regulatory framework. Practical value / implications. The most priority directions of the public investment policy in the context of the responsible mechanism of its implementation, the most relevant for responsible investors Sustainable Development Goals and ESG – criteria are offered. These measures can be used to improve public investment policy by its regulators.