International Financial Institutions Ask to Contribute to Climate Protection

Ахамер, А.

doi:10.26794/2587-5671-2020-25-4-6-23

Cited by 3 publications

(2 citation statements)

References 31 publications

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“…Against the author's initial expectation, IFIs are starting to become efficient at redirecting global funds to climate and environmental projects -and have thus performed a successful "act of societal learning" [46,47]. In recent years, several IFIs claim to have succeeded in limiting their funding to projects that are beneficial for combatting climate change [48][49][50][51] and. 2 The "environmental and social project quality criteria" have played a crucial role in convincing economic and administrative actors (i. e., learners in this context) to behave in a climate-compatible manner.…”

Section: проектное финансирование / Project Financementioning

confidence: 99%

“…The tool of "blended finance" and the project line "IFCA", the EU Investment Facility for Central Asia has been presented earlier in this journal [51]. This subsection here will use the case study of Central Asia (CA) to depict details: The EU has launched the Investment Facility for Central Asia (abbreviated as IFCA, while analogous programs exist for other world regions, see coloured areas in Figure 1) in 2010 to help address the challenges perceived by Central Asian countries when financing their key infrastructure, particularly in their environment, energy and social sectors.…”

Section: Ifca the Investment Facility For Central Asiamentioning

confidence: 99%

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IFIs undertake financing when their environmental and social quality criteria are met

Ahamer¹

2021

jour

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The main content of this article is to describe “climate finance” and “green finance” in detail, as implemented by International Financial Institutions (IFIs) and their pertinent environmental and social project quality criteria. The approach of this article is to perceive and understand environment-related activities of international financial institutions (IFIs) as part of a societal learning process, and consequently to describe their “environmental and social project quality criteria” as an expression of such ongoing societal learning processes. What can our readership, related to global finance, profit from such a comparison? Against the expectation of many, IFIs already implemented efficient rules for redirecting global funds to climate and environmental projects — and have thus performed a successful “act of societal learning”. The “environmental and social project quality criteria” have played a crucial role in convincing economic and administrative actors (i. e., learners in our context) to behave in a climatecompatible manner. Thus, the lesson can be drawn from the domain of “societal learning” to the domain of “individual learning” that clear and transparent criteria sets are decisive for a rule-based societal transformation. This article shows that a criteriabased selection process provides the best results for long-term societal interest; in this case climate protection.

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Section: проектное финансирование / Project Financementioning

confidence: 99%

Section: Ifca the Investment Facility For Central Asiamentioning

confidence: 99%

IFIs undertake financing when their environmental and social quality criteria are met

Ahamer¹

2021

jour

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Implementation of Environmental, Social and Governance Principles in the Banking Business

Donetskova

2022

Upravlencheskie nauki

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At the present stage of the development of the global business community, we pay more and more attention to the principles of environmental, social and governance (ESG) responsibility. Financial intermediaries in their activities considered the influence of natural and climatic factors. Their risks sometimes turn out to be more tangible than, for example, the financial condition of customers. The subject of the study is the development of measures to implement ESG principles in banking products, and its purpose is to study implementing the above principles in Russia at the present stage of business models and setting tasks aimed at overcoming the difficulties of software in sustainable development. The research used the methods of comparative, statistical and factor analysis, identification of trends, graphical comparison, etc. The existing studies on this topic allowed us to determine the need to use ESG principles in banking business models and to identify the motives for their implementation. In the author’s conclusion, Russian banks are guides and an example of making business in line with the principles of environmental, social and governance. The speed, depth and sustainability of their application by other financial intermediaries will depend on economic incentives, government support, and the development of regulatory requirements. The transformation of the business community (according to the new rules of conduct) will bring the entire economy of the country to sustainable development. The author considers a promising topic for further study as the introduction by the mega-regulator of mandatory standards for the activities of financial intermediaries for assessing climate and environmental risks, as well as the development of a supplier audit directive on the criteria for implementing ESG principles. This determines the scientific and practical significance of the study.

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Financial sector regulation on the agenda of economic Policy reforms

Криничанский

Rubtsov

2022

jour

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The aim of the research is to identify trends that set the agenda of the structural reforms of OECD countries, as well as of the organization’s partner countries, in the context of the place of financial sector reforms in it.The authors apply the following methods: content-analysis of sources, monitoring of directions and instruments of economic policy in the financial sector, analysis of approaches used by international organizations in order to determine reform priorities (benchmarking), and decomposition of the components of the financial sector reform agenda. The paper shows that the agenda of financial liberalization, formulated in the 1970s, is mostly exhausted, although a certain gap remains between countries with developed and emerging markets in terms of the financial liberalization index. Financial regulatory reforms focused on the goal of building a more resilient global financial system, formulated in the aftermath of the 2007–2009 crisis, are affecting all countries and are also ending. Reforms are now coming to the fore, focusing on areas of the structural transformation agenda such as inclusive growth and an environmental perspective.The paper concludes that the main components of financial reforms in an inclusive context are financial inclusion, financial and digital literacy. In terms of the environmental agenda, the countries are focusing on the tasks of directing financial resources to the implementation of the UN sustainable development goals, introducing ESG investment principles for financial institutions, and developing and implementing principles for issuing green financial instruments.

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International Financial Institutions Ask to Contribute to Climate Protection

Cited by 3 publications

References 31 publications

IFIs undertake financing when their environmental and social quality criteria are met

IFIs undertake financing when their environmental and social quality criteria are met

Implementation of Environmental, Social and Governance Principles in the Banking Business

Financial sector regulation on the agenda of economic Policy reforms

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