Sustainable Finance Market in Russia
Sustainable Finance Market in Russia

Author(s): Anna Verenikina, Maria Melanina
Subject(s): Economy, Business Economy / Management, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: ESG bonds; green finance; sustainable development; Russian financial market
Summary/Abstract: The present study is dedicated to an in-depth examination of the present state of the ESG-bonds and green finance market in Russia. The market is approaching a state of maturity, and it would be beneficial if investors were to demonstrate a greater propensity towards such instruments. The Moscow Exchange, the Central Bank and the Government of Russia are to contribute to the development of sustainable finance. The study hypothesises that the Russian market is developing more slowly than the global market because institutional investors have a number of questions regarding the rationale for classifying bonds as green or social, the implications of this classification for investors, the purpose of the funds and the nature of the projects to which the funds will be directed. The results of the study demonstrate an increase in investor interest and the formation of a group of such responsible investors.

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