Sustainable development is becoming a key point of the contemporary financial sector, driven by increasingly pronounced climate change and environmental challenges. This thesis explores the connection between climate change, economic transformation and sustainable development, with a particular emphasis on the role of the financial sector in promoting sustainability. Through an analysis of legal frameworks for a sustainable future, the importance of regulatory mechanisms in fostering sustainable business practices is highlighted, while ecological, social, and governance criteria are identified as key elements in integrating sustainability into the operations of financial institutions. Special attention is given to the role of responsible banking as a segment of the financial sector oriented towards sustainability. Further analyses focus on investment funds that adopt environmental, social, and governance criteria (ESG) and promote sustainable development. These funds have a significant impact on capital allocation and encourage companies to adhere to sustainable practices. Through an overview of the topic, the importance of collaboration between regulators, financial institutions and corporations in achieving sustainable development is emphasized. However, open questions remain regarding the further development of the legislative framework, strengthening transparency and oversight and encouraging innovation geared towards sustainability. Ultimately, there is a need for continuous research and discussion on sustainable business practices, the financial sector and the role of investment funds in sustainable development to ensure the long-term sustainability of the economy and society as a whole. This thesis provides an overview of key sustainability issues in the financial sector and highlights potential directions for future research and discussions in this important area.