The theoretical and practical foundations for the implementation the 'green' budgeting principles

The subject of the study is the conceptual foundations of the implementation of the principles of "green" budgeting. The purpose of the article is to study the peculiarities of the formation of "green" (ecological) budgeting in the developed countries of the world and countries with a transformational economy, to provide suggestions on the possibilities, advantages and risks of introducing the principles of "green" budgeting in the budget process in Ukraine. Method or methodology of research. In the article, a set of methods of scientific knowledge was used to solve the tasks, which made it possible to realize the conceptual unity of scientific research. System method, method of generalization, methods of analysis and synthesis, comparison, scientific abstraction are applied. Results of the article.. The article discusses approaches to defining the concept of "green" budgeting, environmental labeling of budget expenditures. The factors that determine the success of achieving the Sustainable Development Goals and the role of "green" budgeting in this process are systematized. The need to revise state policy measures in the sphere of solving issues of social, economic and environmental direction, increasing the level of people's well-being and reducing social inequality in the form of leveling environmental risks and ensuring conditions for the harmonious development of ecosystems as a component of achieving the Sustainable Development Goals by 2023 has been identified. The peculiarities of the introduction of "green" budgeting in the countries of the European Union and the member countries of the Organization for Economic Cooperation and Development were studied, and the level of "greening" of the budget system and budget policy was determined. Field of application of results. The results of the study can be used in the process of reforming the public finance management system in terms of improving the budget process through the gradual introduction of environmental labeling of budget expenditures. Conclusions. Green budgeting can have a broader scope related to a range of environmental goals and starts by labeling budget items related to a narrower range of environmental goals, then these methods provide a useful basis for creating markers related to other environmental goals . The primary tasks of the introduction of environmental labeling are to understand the purpose of such budgetary policy instruments, in particular, to understand the area of ​​problems that the government is trying to solve with such an innovation, to assess whether green labeling is a valid solution to environmental problems, as well as the stage of the budget process at which the introduction of green labeling should begin.