Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and Russia
The relevance of the research topic is determined by the need to respond to increased climate risks, which makes countries develop climate policies that can effectively meet sustainable development challenges and protect national economic interests. The transformation of climate policy causes the ne...
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| Format: | Article |
| Language: | English |
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Financial Research Institute
2021-10-01
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| Series: | Финансовый журнал |
| Subjects: | |
| Online Access: | https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2021/5/statii/01_5_2021_v13.pdf |
| _version_ | 1819006552236883968 |
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| author | Igor A. Yakovlev Lyudmila S. Kabir Svetlana I. Nikulina |
| author_facet | Igor A. Yakovlev Lyudmila S. Kabir Svetlana I. Nikulina |
| author_sort | Igor A. Yakovlev |
| collection | DOAJ |
| description | The relevance of the research topic is determined by the need to respond to increased climate risks, which makes countries develop climate policies that can effectively meet sustainable development challenges and protect national economic interests. The transformation of climate policy causes the need to shift capital flows from “brown” economy sectors to “green” ones and integrate environmental factors into the process of making financial and investment decisions. At present, the EU is actively developing a climate finance system which will have an impact on the Russian economy. The article is aimed at outlining the changes in climate policies and financial strategies in the EU and Russia, influenced by the global climate agenda. It analyses the volumes and sources of climate finance mobilized by the EU, as well as regional support instruments in the transition period. The article determines the current changes in the Russian Federation’s climate policy. As a result of the research, the authors have come to the following conclusions. The EU is a vivid example of the fact that countries have long moved from climate change debates to the implementation of specific measures. The Russian Federation lags far behind the EU in terms of both mobilizing financial resources to ensure the transition to a low-carbon economy, and developing proven emission control instruments which help to stimulate the reduction of greenhouse gas emissions and fulfill the obligations under the Paris Agreement. |
| first_indexed | 2024-12-21T00:10:30Z |
| format | Article |
| id | doaj.art-4d0511d2d5c14631bf00581de4293524 |
| institution | Directory Open Access Journal |
| issn | 2075-1990 2658-5332 |
| language | English |
| last_indexed | 2024-12-21T00:10:30Z |
| publishDate | 2021-10-01 |
| publisher | Financial Research Institute |
| record_format | Article |
| series | Финансовый журнал |
| spelling | doaj.art-4d0511d2d5c14631bf00581de42935242022-12-21T19:22:21ZengFinancial Research InstituteФинансовый журнал2075-19902658-53322021-10-0113No. 5112810.31107/2075-1990-2021-5-11-28Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and RussiaIgor A. Yakovlev0https://orcid.org/0000-0002-6820-4689Lyudmila S. Kabir1https://orcid.org/0000-0002-0665-8992Svetlana I. Nikulina2https://orcid.org/0000-0002-1525-7648Financial Research Institute, Moscow 127006, Russian FederationFinancial Research Institute, Moscow 127006, Russian FederationFinancial Research Institute, Moscow 127006, Russian FederationThe relevance of the research topic is determined by the need to respond to increased climate risks, which makes countries develop climate policies that can effectively meet sustainable development challenges and protect national economic interests. The transformation of climate policy causes the need to shift capital flows from “brown” economy sectors to “green” ones and integrate environmental factors into the process of making financial and investment decisions. At present, the EU is actively developing a climate finance system which will have an impact on the Russian economy. The article is aimed at outlining the changes in climate policies and financial strategies in the EU and Russia, influenced by the global climate agenda. It analyses the volumes and sources of climate finance mobilized by the EU, as well as regional support instruments in the transition period. The article determines the current changes in the Russian Federation’s climate policy. As a result of the research, the authors have come to the following conclusions. The EU is a vivid example of the fact that countries have long moved from climate change debates to the implementation of specific measures. The Russian Federation lags far behind the EU in terms of both mobilizing financial resources to ensure the transition to a low-carbon economy, and developing proven emission control instruments which help to stimulate the reduction of greenhouse gas emissions and fulfill the obligations under the Paris Agreement.https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2021/5/statii/01_5_2021_v13.pdfclimate financelow-carbon economyparis agreementeuropean green deallow-carbon development strategyclimate finance instruments |
| spellingShingle | Igor A. Yakovlev Lyudmila S. Kabir Svetlana I. Nikulina Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and Russia Финансовый журнал climate finance low-carbon economy paris agreement european green deal low-carbon development strategy climate finance instruments |
| title | Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and Russia |
| title_full | Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and Russia |
| title_fullStr | Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and Russia |
| title_full_unstemmed | Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and Russia |
| title_short | Changes in Climate Policies and Financial Strategies of Their Implementation in the EU and Russia |
| title_sort | changes in climate policies and financial strategies of their implementation in the eu and russia |
| topic | climate finance low-carbon economy paris agreement european green deal low-carbon development strategy climate finance instruments |
| url | https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2021/5/statii/01_5_2021_v13.pdf |
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