About the Growing Role of Green Finance in Providing Financial Stability

The number of natural disasters which negatively influence the economy has increased in recent years. The solution of the problems linked to the climatic factors for a long time had been put to international level and different regulators implement numerous initiatives, work out international standards, etc. Changes in the production which affect all countries and all spheres of economy require large scale financing which has significant risks. That’s why 36 central banks and supervisors acknowledged climate-related risks are a source of financial risks and which falls within the mandates of central banks and supervisors to ensure the financial system is resilient to these risks. The article revises the international initiatives in which central banks and supervisors participate for better interaction of financial sphere and green economic. The challenges evolve are analyzed. Adequate estimation of financial risks is hampered by many difficulties (shortage of comparable information, lack of financial instruments, etc.). The financial aspects of green economic in Russia are analyzed. Russian regulators are inactive in international initiatives that form regulatory approaches with allowances of climate factor. The investment in green economic is insignificant. Taking ecologic factor in processing is necessary to enhance competitiveness. It is made the conclusion about the importance of taking more active role of Russian regulators in international initiatives at the starting stage when the functioning of green economic and green finance is shaping. It’s obvious that such participation should promote the interests of Russia that will lay basis of its important role in this growing sphere for many years to come.