Financial instruments of “green” economy development in Russia

Dubrova, M.V.; GUSAROVA, L. V.; Zhylina, N.N.; Shamsutdinova, Marina; Ignatyev, V.G.

doi:10.1051/e3sconf/202126204002

Cited by 3 publications

(2 citation statements)

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“…The findings of Tian's study indicated that integrating the digital economy into green finance may mitigate regional economic development imbalances. In a related study, Dubrova et al (2021) proposed that green finance involves providing financial support while enhancing resource efficiency and mitigating environmental and global climate impacts. Furthermore, researchers like Song et al (2023) are actively exploring integrating digital financial services to foster the growth of a green economy, emphasizing its substantial positive spillover effects.…”

Section: Literature Reviewmentioning

confidence: 99%

The Digital Future of Financial Instruments in Advancing the Green Economy of the Republic of Kazakhstan

Kurbanova

2024

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Digitalization provides innovative tools and solutions that contribute to the sustainable development of the green economy. The authors reviewed scientific articles on the digitalization of financial instruments focused on "environmental, social and corporate governance" criteria for assessing companies' sustainability and social responsibility (ESG). The article studies the capacity and needs of green finance in Central Asia and Kazakhstan.The study concludes that the development of sustainable green finances in Kazakhstan corresponds to the goals of the Central Asian region. This study indicates the relevance and necessity of creating a Unified Green Finance Center, which would contribute to the coordination of efforts and resources of the area in environmentally sustainable development. Financial ecosystems using national banks' digital currencies, digital assets, and smart contracts can change the region's economic system and the architecture of green finance. This study also examines the digitalization of financial instruments, focusing on ESG criteria for assessing sustainability and social responsibility. Additionally, integrating digital currencies, digital assets, and smart contracts can reshape the region's financial system and architecture of green finance, further advancing sustainable development objectives.The study establishes the relevance of sustainable green finances in Kazakhstan, proposing a Unified Green Finance Center to coordinate regional efforts, utilizing digital currencies, assets, and smart contracts to reshape financial systems and advance sustainable development goals.

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Section: Literature Reviewmentioning

confidence: 99%

The Digital Future of Financial Instruments in Advancing the Green Economy of the Republic of Kazakhstan

Kurbanova

2024

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“…Establishing and improving the level of green development economic system and promoting the comprehensive green transformation of economic and social development are the basic policies to solve the ecological problems of resources and environment. In this process, it is important to provide finance while enhancing the resource efficiency and reduce the impact on the environment and the global climate [ 3 ]. Consequently, balanced adherence to financial, economic, and environmental criteria is the main foundation.…”

Section: Introductionmentioning

confidence: 99%

Research on Environmental Regulation and Green Total Factor Productivity in Yangtze River Delta: From the Perspective of Financial Development

Tang

Tenkorang

et al. 2021

IJERPH

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This paper employs the global Malmquist Luenberger (GML) index and the System Generalized method of moments (GMM) estimation method to investigate the influence of both environmental regulation and financial development on green total factor productivity in 41 cities of the Yangtze River Delta (YRD) in China from 2003–2019. We select the relevant input-output data to measure the green total factor productivity (GTFP) and its decomposition index including undesirable output. The results show that the GTFP and its decomposition index in the YRD have a slow fluctuating upward trend. The YRD mainly depends on improving the level of technological progress and environmental governance to promote the improvement of regional economic green development level. The empirical research results show that there is an inverted U relationship between environmental regulation and GTFP in the YRD, too strict environmental regulation will inhibit the growth of green total factor productivity. By adding control variables, the inflection point of environmental regulation is 0.5034, which is lower than that without control variables. There is a strong interaction and superposition effect between financial development and environmental regulation, which is closely related to the established financial cooperation mechanism, perfect financial system arrangement and cross-regional financial cooperation platform in the YRD. Government intervention should be reduced, the introduction of foreign capital should be controlled appropriately, foreign capital should be guided to green industries, and the use efficiency of foreign capital should be improved. This paper holds that we should pay attention to the strength of environmental regulation, prevent overcorrection, increase the guidance of credit funds, deepen the reform of the financial system, appropriately intervene in the market by the government, strengthen the guidance of foreign capital, and promote the development and transformation of the green economy in the YRD region with the help of several policies.

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Challenges of green startups in the post-soviet economies

Mustafayev,

Isgandarov

2024

InterConf+

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This article delves into the difficulties faced by environmentally conscious startups in the post-Soviet economies. The breakup of the USSR gave rise to a period characterized by economic restructuring and a shift towards market-based economies, but green startups encounter numerous obstacles arising from a lack of entrepreneurial expertise, insufficient funding, and complex regulations. In Russia, the dominance of the oil and gas industry hampers the drive for alternative energy ventures, while Ukraine, Belarus, and Moldova grapple with funding gaps and infrastructure deficiencies. The South Caucasus countries face issues related to oil dependency, burdensome regulations, and limited access to funding, while the Baltic states prioritize swift innovation and adeptly navigating regulations. Central Asian nations, blessed with abundant natural resources, face challenges including regulatory restrictions and geopolitical complexities that impede the transition to green practices. Collaborative efforts are vital in overcoming these hurdles, enabling regulatory reform, strengthening sustainable initiatives, and fostering innovation to promote the growth of green startups in these economies.

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Financial instruments of “green” economy development in Russia

Cited by 3 publications

References 1 publication

The Digital Future of Financial Instruments in Advancing the Green Economy of the Republic of Kazakhstan

The Digital Future of Financial Instruments in Advancing the Green Economy of the Republic of Kazakhstan

Research on Environmental Regulation and Green Total Factor Productivity in Yangtze River Delta: From the Perspective of Financial Development

Challenges of green startups in the post-soviet economies

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