Current trends in the development of a green finance system: methodology and practice
The concept of green growth and sustainable development is turning into a global ideology guiding the transformation of national economies. The focus is shifting from quantitative assessments of performance to rational choice conditions. Rationality is becoming the decisive factor behind sustainable...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Immanuel Kant Baltic Federal University
2021-06-01
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| Series: | Baltic Region |
| Subjects: | |
| Online Access: | https://journals.kantiana.ru/eng/baltic_region/4916/30229/ |
| _version_ | 1819136808555905024 |
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| author | Inobbat A. Alieva Varvara V. Altunina |
| author_facet | Inobbat A. Alieva Varvara V. Altunina |
| author_sort | Inobbat A. Alieva |
| collection | DOAJ |
| description | The concept of green growth and sustainable development is turning into a global ideology guiding the transformation of national economies. The focus is shifting from quantitative assessments of performance to rational choice conditions. Rationality is becoming the decisive factor behind sustainable green growth, and a change in the financial model that supports such growth may be needed. Therefore, the most urgent problems relating to sustainable growth are the transformation of the finance system, on the one hand, and the creation of a new financial paradigm based on the principles of responsible investment and corporate social responsibility, on the other. This study aims to consider the theoretical and practical aspects of creating a national green finance model ensuring sustainable growth in the Russian Federation. The development of a green finance mechanism and a green bond market in the Baltic Sea countries is analysed to determine national features and explore the possibility of translating the Baltic experience into practices usable in Russia. The research uses economic observations, economic description, structural and logical analysis, and systems analysis. Perhaps the most significant finding is the description of a methodological framework for sustainable development theory, as seen by major schools of economic thought. Studying the experience of the Baltic Sea countries in creating a new finance model of responsible investment helped detect national features and development priorities that can be used in Russia in devising the ideology, principles, and mechanism of green growth and sustainable growth financing. |
| first_indexed | 2024-12-22T10:40:52Z |
| format | Article |
| id | doaj.art-35019c4cf5bf413f97897042d60c1baf |
| institution | Directory Open Access Journal |
| issn | 2079-8555 2310-0524 |
| language | English |
| last_indexed | 2024-12-22T10:40:52Z |
| publishDate | 2021-06-01 |
| publisher | Immanuel Kant Baltic Federal University |
| record_format | Article |
| series | Baltic Region |
| spelling | doaj.art-35019c4cf5bf413f97897042d60c1baf2022-12-21T18:29:02ZengImmanuel Kant Baltic Federal UniversityBaltic Region2079-85552310-05242021-06-01132648910.5922/2079-8555-2021-2-4Current trends in the development of a green finance system: methodology and practiceInobbat A. Alieva0https://orcid.org/0000-0002-1654-3371Varvara V. Altunina1Immanuel Kant Baltic Federal UniversityImmanuel Kant Baltic Federal UniversityThe concept of green growth and sustainable development is turning into a global ideology guiding the transformation of national economies. The focus is shifting from quantitative assessments of performance to rational choice conditions. Rationality is becoming the decisive factor behind sustainable green growth, and a change in the financial model that supports such growth may be needed. Therefore, the most urgent problems relating to sustainable growth are the transformation of the finance system, on the one hand, and the creation of a new financial paradigm based on the principles of responsible investment and corporate social responsibility, on the other. This study aims to consider the theoretical and practical aspects of creating a national green finance model ensuring sustainable growth in the Russian Federation. The development of a green finance mechanism and a green bond market in the Baltic Sea countries is analysed to determine national features and explore the possibility of translating the Baltic experience into practices usable in Russia. The research uses economic observations, economic description, structural and logical analysis, and systems analysis. Perhaps the most significant finding is the description of a methodological framework for sustainable development theory, as seen by major schools of economic thought. Studying the experience of the Baltic Sea countries in creating a new finance model of responsible investment helped detect national features and development priorities that can be used in Russia in devising the ideology, principles, and mechanism of green growth and sustainable growth financing.https://journals.kantiana.ru/eng/baltic_region/4916/30229/sustainable developmentgreen financeresponsible investmentsocially responsible businessfinancial model for a sustainable economygreen growth |
| spellingShingle | Inobbat A. Alieva Varvara V. Altunina Current trends in the development of a green finance system: methodology and practice Baltic Region sustainable development green finance responsible investment socially responsible business financial model for a sustainable economy green growth |
| title | Current trends in the development of a green finance system: methodology and practice |
| title_full | Current trends in the development of a green finance system: methodology and practice |
| title_fullStr | Current trends in the development of a green finance system: methodology and practice |
| title_full_unstemmed | Current trends in the development of a green finance system: methodology and practice |
| title_short | Current trends in the development of a green finance system: methodology and practice |
| title_sort | current trends in the development of a green finance system methodology and practice |
| topic | sustainable development green finance responsible investment socially responsible business financial model for a sustainable economy green growth |
| url | https://journals.kantiana.ru/eng/baltic_region/4916/30229/ |
| work_keys_str_mv | AT inobbataalieva currenttrendsinthedevelopmentofagreenfinancesystemmethodologyandpractice AT varvaravaltunina currenttrendsinthedevelopmentofagreenfinancesystemmethodologyandpractice |