The Market of «green» Finance in Russia: Trends and Perspective

Чугунов, В И; Busalova, S.G.; Gorchakova, E.R.

doi:10.17513/vaael.1264

Cited by 4 publications

(4 citation statements)

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“…At the same time, it was possible to show rapid changes: (1) national standards of green financing were developed, (2) a system of state support for issuers and holders of green bonds, the absence of which was noted by N. N. Yumanova and M. A. Bolgov [21]. Moreover, the dynamics of the number and volumes of emissions in the field of green financing described in this research refutes the conclusions that this market is practically undeveloped [4]. These facts testify to the rapid changes in Russian green financing, which does not stop even under the influence of the coronavirus.…”

Section: Discussionsupporting

confidence: 67%

“…Another one is the fact that the first payment occurs more than a year after the issue. The advantages include (1) the dependence of coupon payments on the state of the economy, which implies consideration of inflation and the level of the key rate of the Bank of Russia, (2) compliance with all international standards, (3) a high rating (АА+), (4) relatively high level of payments. Green bonds have a high investment attractiveness since the number of advantages in buying them outweighs the disadvantages.…”

Section: Discussionmentioning

confidence: 99%

“…Now in Russia, a legal, trade and information infrastructure is being actively formed, using the experience of Western countries. Green financing has established itself as a noticeable trend in the Russian economy, and the competitiveness of green projects is growing rapidly, as is the demand for them [4].…”

Section: Discussionmentioning

confidence: 99%

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Development of the green bonds market for financing eco-projects in Russia

Koniagina

2023

E3S Web Conf.

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The problem of financing "green" projects is a relatively new and at the same time demanded area of development in practice. Since the Russian green bond market is in its infancy, it was decided to determine the development vector of this segment by constructively summarizing and evaluating the accumulated experience of a few green bond issues in Russia. Focusing on the Russian green finance market, the author summarized the experience gained from several issues of green bonds and determined the development vector for this segment of the stock market. The size of the Russian green finance market imposes serious restrictions on the use of mathematical and econometric tools to study its development, which did not become an obstacle to the analysis of practical data on the issuance of green bonds. This became possible thanks to access to information provided by Cbonds.ru and content analysis of the publications and reports. The study focuses on government approaches to support the development of the domestic green bond market, which stimulates its further development. The author highlights the attractive and vulnerable places of individual emission projects. The study complements the results of relatively few domestic and foreign studies on the financing of environmental projects and is of practical importance, generalizing the methods for attracting and stimulating financing for "green" projects.

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Section: Discussionsupporting

confidence: 67%

Section: Discussionmentioning

confidence: 99%

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Development of the green bonds market for financing eco-projects in Russia

Koniagina

2023

E3S Web Conf.

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“…-increase in the welfare of the population; -financing most often comes from green bonds, green loans or green project financing; -longer duration, etc. [9]. Modern research on issues of green financing are devoted to such issues as the assessment of the impact of the Emissions Trading Scheme of the European Union on enterprises falling under the scope of regulation of this scheme in the industrial and energy sectors [10], the role of green financing in achieving the goals of sustainable development and energy security [11], the impact of environmental taxes on CO2 emissions in EU countries [12], an analysis of the characteristics of green bond markets to promote green financing in the world in the post-pandemic era [13], the sensitivity of the European system of environmental taxation to the economic cycle [14].…”

Section: Introductionmentioning

confidence: 99%

Comparative Legal Aspects of the EU and Russia Policy in the Field of Green Financing

Tsindeliani¹,

Proshunin²,

Sadovskaya³

et al. 2023

IJSDP

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The purpose of the article is to consider, using the example of the EU and Russia, potential challenges and problems of legislative regulation of green finance in the framework of the implementation of the current sustainable development agenda. Using the method of political and legal analysis, the study analyzes the current state of legal regulation and political initiatives of the Russian Federation and the EU in the field of green finance. Initially, the paper considers the legal institutionalization of green finance in the field of financial legal relations, and certain legal aspects related to environmental taxes within the framework of the green finance system. Further the work moves on to a review and analysis of EU and Russian policy along with legal and regulatory aspects in the field of green finance. The research gives reason to say that both Russia and the EU are characterized by the lack of unified definitions within the framework of green investments, which creates additional obstacles for potential investors. Of particular importance for the development of the green finance sector is the development of systems and standards for assessing the impact of green finance on the achievement of environmental goals. However, there is currently no legal institutionalization of such standards, which takes the issue beyond the scope of direct legal regulation. Russia, in order to join the global process as a full participant, needs to work out a number of issues of a legal and organizational nature, including issues of the legal nature and system of environmental payments, their administration, in particular determining the procedure for interaction with external verifiers in the framework of the green projects implementation. The lack of political motivation inhibits initiatives in the sphere, while the issues of legal regulation often undeservedly remain in the shadows. This, in turn, causes a theoretical gap, which this work intends to fill. In order to ensure sustainable development, the possibilities of international regulatory cooperation and the harmonization of legislation are becoming important. From a practical point of view, the study is of interest to both lawyers and specialists in the field of financing and investment.

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Regional Investment Market in the Sphere of Waste Management: Dynamics, Structure, Evaluation Methodology

2021

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Introduction. Developing environmental entrepreneurship and attracting investments in the sphere of waste management are relevant for increasing the sustainability of economic systems in the circumstances of catastrophic environmental pollution, climate change, and depletion of natural resources. Based on the conducted research, the article assesses the impact of industrial and consumer waste generation on the development of the regional investment market in the sphere of waste management. Materials and Methods. A systemic analysis of the databases of the Federal State Statistics Service characterizing the development of the investment market in the sphere of waste management was performed using the correlation, factor, and regression (linear and nonlinear) methods of analysis, as well as the analysis of variance. On the basis of econometric dynamic modeling using instrumental variables, the study has revealed the dependence of the volume of investment in fixed assets in the Russian Federation aimed at environmental protection and rational use of natural resources on the volume and structure of generated industrial and consumer waste. Results. The volume of investment in fixed assets in the Russian Federation aimed at environmental protection and rational use of natural resources has been prognosticated taking into account the statistical criteria; conclusions have been drawn about strong influence of the dynamics of industrial and consumer waste generation. Based on the conducted research, proposals for increasing investment activity in the sphere of waste management have been formulated. Discussion and Conclusion. The sphere of waste management has a high development potential enabling this sector of the Russian economy, with appropriate competent investment policy, to solve not only environmental, but also significant macroeconomic problems. The results obtained can be used when elaborating and implementing measures aimed at the development of a waste management system, the key exogenous parameter of which, determining the magnitude of the macroeconomic effect, is the volume of investment in the production of waste collection and processing equipment.

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The Market of «green» Finance in Russia: Trends and Perspective

Cited by 4 publications

References 0 publications

Development of the green bonds market for financing eco-projects in Russia

Development of the green bonds market for financing eco-projects in Russia

Comparative Legal Aspects of the EU and Russia Policy in the Field of Green Financing

Regional Investment Market in the Sphere of Waste Management: Dynamics, Structure, Evaluation Methodology

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