Assessment of the Involvement of the European Union Countries in Sustainable Finance

Abstract

Sustainable finance and its trends are attracting increasing interest. However, investing in sustainable economic development still raises many questions. Many factors are used to assess sustainable finance and affect the field differently. The problem of this paper is how to evaluate trends in sustainable finance in different countries. This paper examines involvement in sustainable finance in selected European Union countries. The subject of the paper is sustainability in EU countries. The paper provides a theoretical analysis of sustainable finance, an assessment of the sustainability of selected EU countries and a ranking of countries, and a hierarchical clustering. The methods used are analysis of scientific literature, summarisation, analysis of secondary data sources, weighting by the CRITIC method, ranking by the COPRAS method, and hierarchical clustering method. Considering ESG indicators as sustainable finance outcomes, Sweden, of the selected European Union countries, showed the most concern with sustainability.