Green Investment Financing Mechanism as an Element of the National Strategy for Sustainable Development Financing

Igor A. Yakovlev () and Liudmila Kabir ()
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Igor A. Yakovlev: Financial Research Institute, Moscow 127006, Russia

Finansovyj žhurnal — Financial Journal, 2018, issue 3, 9-20

Abstract: Today green investments are seen by the Russian government both as a solution for environmental problems and as an economic growth factor. Up until now the process of transition to the green economy has not been clearly defined, since the adjustment of the national green investment financing mechanism has not been completed. This article describes the results of the research on the prevalence of ideas of green growth in the national business environment and in the practice of national companies of green investment. For analysis, an array of data was collected on the official websites of 253 largest national companies. In addition to empirical data, the national strategic planning papers have been studied to find the reflection of ideas and principles of the green economy in the development strategies of industries and territories, as well as the guidelines designed by global institutions. As a result, the following problem has been identified: low level of green investment in Russian business due to, inter alia, the lack of a clear conceptual framework and rules. The solution of this problem lies in the plane of reaching a public consensus as to which sectors of the national economy should be recognized as leading to the sustainable development, and which of them, to the unsustainable one.

Keywords: sustainable development; sustainable finance; green economy; green investment; green investment financing mechanism; sustainable development financing strategy; priority; Russian companies (search for similar items in EconPapers)
JEL-codes: B00 O44 Q32 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:180301:p:9-20

DOI: 10.31107/2075-1990-2018-3-9-20

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