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In recent decades, cataclysmic events, deterioration of air and water quality, and loss of biodiversity have forced us to look for ways to save nature. One of the ways to solve the problems is to ensure rational environmental management, which is possible by establishing an effective balance between consumption and compensation by creating an effective financial mechanism. The purpose of the study is to assess the efficiency of the current financial mechanism for environmental management in Ukraine and to determine the prospects for its improvement. The study uses analysis, synthesis, specification, systematization, and generalization. The graphical method was used to assess environmental taxes, and mathematical modelling was used to analyze the dependence of emissions on direct costs and capital investments in air protection and climate change. Environmental taxes in Ukraine are an ineffective instrument of the financial mechanism of environmental management. Their share in the structure of domestic GDP is lower than the share in the EU. The author suggests ways to improve them: to replace the CO2 tax with an energy tax; to cancel the tax-free limit of 500.000 tons of CO2 emissions per year; to change the structure of tax distribution; to introduce tax rebates. The correlation and regression analysis of the dependence of air pollutant emissions on current expenditures and capital investments in air protection and climate change issues showed the existence of a feedback loop. Investment support for environmental management should be provided from various sources in the following areas: national, local and international finances - primarily for the restoration of air, water and contaminated areas; own funds and international investments - for the modernization and greening of production.

In recent decades, humanity has had a significant negative impact on the environment. This problem can be solved only by establishing a rational environmental management policy and ensuring an effective financial policy in the context of balancing emissions and expenditures on environmental protection measures. The purpose of this article is to analyze the efficiency of financing environmental protection measures by determining the dependence of pollutant emissions on environmental protection expenditures in Ukraine and the European Union. The following methods were used for the study: analysis, synthesis, generalization, comparison, specification, and statistical and graphical methods. The statistical information was systematized on the basis of open data from the Open Budget web portal, the State Statistics Service, and Eurostat. This study identified the dynamics of revenues from environmental taxes in Ukraine; taxes on air emissions prevail. Most of the expenditures are made from the state budget. According to the functional classification, environmental expenditures are mainly aimed at preventing and eliminating environmental pollution. The dynamics of capital investments in environmental protection were also studied. To assess the effectiveness of the state policy in the field of environmental protection, we analyzed the dependence of pollutant emissions in Ukraine, Poland, and Romania on the amount of environmental expenditures and investments in this area and revenues from environmental tax. In Ukraine, the amount of pollutants released into the atmosphere depends mostly on investments in this area; in Poland—on revenues from environmental taxes; and in Romania—on expenditures on environmental protection. It has been established that the obtained models are adequate and can be used to build future forecasts of pollutant emissions. Directions for the development of financial and environmental policy are proposed. Post-war restoration of the environmental situation should be carried out on the basis of sustainable development, focusing on the European Green Deal A triple-task approach should be implemented, including environmental restoration, the minimization of negative climate change and balanced use of resources, and the expansion of powers of the relevant ministry with a focus on the strategic goals of the state policy. It is necessary to develop methodological recommendations according to international standards to assess the real state of the environment. [ABSTRACT FROM AUTHOR]

At the beginning of the third Millennium, humanity is forced to face a new surge of tensions and contradictions between different countries and peoples, between different parties and faiths, as well as the growth of environmental, economic and social problems both in different regions of the world and on a global scale. These phenomena are the result of the exhaustion of socio-economic forms of development of society within the existing natural resource and environmental conditions. An increasing number of people and states are experiencing an acute shortage not only in quality food, but also in quality water, clean air, energy, land, biological and other resources. After all, according to some scientists over the past hundred years, the consumption of natural resources by mankind has increased almost 100 times. For the first time in the history of mankind, resource and environmental crises have reached the biosphere borders and there is a danger to the existence of civilization. Humanity faces a global challenge, the correct solution of which will result on the lives of our descendants in the future. The common task for all is to preserve the biosphere as the habitat of mankind. Further increase of material and energy flows becomes impossible, as well as further satisfaction of the needs of new billions of people who will be added to the total population. Humanity is on the threshold of a new socio-economic formation, as neither a centrally managed economy nor a market economy has been able to solve the global environmental problems of our planet.

The potential to reduce the sectors (livestock) emissions is large. Technologies practices that help reduce emissions exist but are not widely used. The adoption and use of best practices and technologies by the bulk of the world's producers can result in significant reductions in emissions. The FAO report indicated that the emissions could be reduced by between 18 and 30 percent (or 1,8 to 1,1 gigatones CO2 - eq), if producers in a given system, region and climate adopted the practices currently applied by the 10 to 25 percent of producers with the lowest emission intensity. Most of the technologies and practices that mitigate emissions also improve productivity and can contribute to food security and poverty alleviation as the planet needs to feed a growing population. Under the conditions of the limited financial resources for the purpose of the implementation of government programs to minimize the harmful farm animal waste, such funds can be raised by participating in the emissions market.