Institutional Framework for Managing Investment Activities of Organizations on the Basis of Sustainable Development

The aim of the article is to substantiate the significance of forming and improving the institutional foundations for managing the investment activities of organizations based on sustainable development in the context of the priorities for implementing such management, taking into account existing problems and new challenges. The article demonstrates that the investment activities of organizations are objects of institutional management and regulation. It is argued that the idea of sustainable development is conceptually embedded in the process of implementing State investment policy and its legal support. The sustainable development strategy «Ukraine – 2020» proclaims our country’s movement in the directions of development, security, responsibility, and pride. The State strategy for regional development for 2021–2027 defines the priorities for regional development until 2027, with investment activities serving as the tool to achieve these priorities. It has been observed that the subjects of managing the investment activities of organizations based on sustainable development are the organizations themselves and their leadership, and such management is characterized by: a multi-level nature, strategic orientation, and implementation through managerial decisions. It is determined that the strategic nature and direction of such management will be revealed in: the formation of long-term investment objectives of organizations concerning their socioeconomic and environmental development, the development of mechanisms for the practical realization of these objectives, and the incorporation of these into the investment policy of organizations, etc. It is emphasized that the State, as the main subject of managing the investment activities of organizations, must create favorable institutional conditions for both domestic and foreign organizations. The following laws of Ukraine aim to improve such conditions: «On Amendments to Certain Legislative Acts of Ukraine on the Implementation of Investment Projects with Significant Investments», which has introduced new forms of State support for investment projects with significant investments; «On Amendments to the Law of Ukraine «On Financial Mechanisms for Stimulating Export Activities» regarding the insurance of investments in Ukraine from military risks, which has expanded the list of investment insurance instruments in Ukraine; «On Amendments to Certain Legislative Acts of Ukraine on Simplifying the Attracting of Investments and Introducing New Financial Instruments», which addresses issues related to the development of the market for green bonds. It is summarized that the relevance of the issue of strengthening the institutional foundations for managing the investment activities of organizations based on sustainable development requires further targeted actions to minimize risks in the investment process for organizations that ensure legal, economic, social, environmental, civil, and information security.