Within the project five major goals have been defined: 1. Determination of the detailed criteria that can be applied in order to identify and categorize sustainable investing ETFs. 2. Identification of sustainable investing ETFs development trajectories in Europe. 3. Identification of the determinants of the development of sustainable investing ETFs in Europe both at firm- and country-level. 4. Identification of the socio-economic effects of the sustainable investing ETFs in Europe, including impact on the financial system. 5. Examination of the significance of the sustainable investing ETFs in the context of the sustainable development policies enacted in Europe. Research sample will cover sustainable investing (ESG) exchange-traded funds (ETFs) in at least 5 European countries: France, Germany, Italy, Switzerland, and the United Kingdom; in the other countries with the ETFs markets no ESG funds were identified. Total net assets of the funds will be utilized as the key indicator; the number of funds and the turnover of their shares will be used as supplementary measures. The core time coverage will be the period 2006-2019 (due to lack of ESG ETFs in Europe prior to 2006). Data on the sustainable investing ETFs in the other countries will be used for comparison purposes. Effects of this project will significantly contribute to the present state of knowledge due to the planned accomplishment of theoretical-methodological and empirical aims. With regard to the first aspect, contribution of this project is the establishment of the criteria that can be applied in order to identify the sustainable investing ETFs. In the second, empirical, aspect this project will contribute by conducting and presenting the results of the extensive analysis of the sustainable investing ETFs in the European countries over the selected time period. The results of the study will be used to identify the barriers in the development of sustainable investing ETFs in Poland and to formulate recommendations for this country, taking into account the possible linkages to the ESG ETFs markets in the other countries due to Polish assets held by the foreign-listed funds. Importance of the project for GUT: - publication of articles and books with the results of the study, - access to database about the analysed funds and countries, - launch and development of the academic cooperation.