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Ukraine’s ESG lessons from a war zone

NBU governing council member Olena Shcherbakova speaks about how environmental, social and governance rules can be adapted for dual-use and defence requirements

Close-up of a military person’s hands holding a heart-shaped Ukraine flag

To what extent is Ukraine still having to adopt international environmental, social and governance (ESG) standards to secure the capital it needs for reconstruction? Or is ESG a secondary consideration, given the Ukrainian state’s immediate need to ensure the survival of its people and the country’s economy?

For the National Bank of Ukraine, it is not a matter of the degree to which ESG standards should be implemented; implementing them is an unconditional necessity. The real issue is how to

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