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

Author

Listed:
  • Igor A. Yakovlev

    (Financial Research Institute, Moscow 127006, Russia)

  • Ludmila S. Kabir

    (Financial Research Institute, Moscow 127006, Russia)

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.

Suggested Citation

  • Igor A. Yakovlev & Ludmila S. Kabir, 2018. "Green Investment Financing Mechanism as an Element of the National Strategy for Sustainable Development Financing," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 9-20, June.
    • Handle: RePEc:fru:finjrn:180301:p:9-20
    DOI: 10.31107/2075-1990-2018-3-9-20
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    References listed on IDEAS

    as
    1. Andrey A. Bokarev & Igor A. Yakovlev & Ludmila S. Kabir, 2017. "Green Investments in Russia: Searching for Priority Directions," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 40-49, December.
    2. Igor A. Yakovlev & Lyudmila S. Kabir & Svetlana I. Nikulina & Ivan D. Rakov, 2017. "Financing Green Economic Growth: Conceptions, Problems, Approaches," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 9-21, June.
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    Cited by:

    1. Larisa V. Sannikova, 2021. "Legal Framework for Green Finance in the EU and Russia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 29-43, October.
    2. Igor A. Yakovlev & Svetlana I. Nikulina, 2019. "Indonesia’s Strategy for Sustainable Finance," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 83-95, December.
    3. Natalya A. Khutorova, 2021. "Global Catastrophe Bond Market and the Prospects of Its Formation in the Russian Federation," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 75-92, February.
    4. Irina I. Prosvirina & Natalya S. Dovbiy, 2020. "Selection of Sources of Traditional and Green Financing for the Best Available Techniques," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 101-116, August.

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    More about this item

    Keywords

    sustainable development; sustainable finance; green economy; green investment; green investment financing mechanism; sustainable development financing strategy; priority; Russian companies;
    All these keywords.

    JEL classification:

    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches

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