System Transition to the “Eco-Finance” Sustainable Growth: Evidence from Chinese and Russian Oil and Gas Companies

Abstract

In this paper, we study how financial sustainable growth matters for environment protection and social responsibility. Financial decisions that take into account long-term social and environmental consequences should be central to the system of financially sustainable growth of oil and gas companies of the world, including Russia and China. Authors present Russia and China oil and gas industry system transition to «Green Finance» sustainable growth model results with interrelation financial, environmental and social factors. Study regarded in the context of economic growth theory, system economics theory and the theory of relativity. It was created Python 3.6. financial sustainable growth model for Russia and China. A dynamic model was built on the basis of the Ricci tensor. For sustainable growth intensity analysis, it was compared Financial sustainable index (FSI), Higgins’ sustainable growth rate (SGR), Ivashkovskaya’ sustainable growth index (SGI), Ivashkovskaya’ sustainable growth index modification (SGImodif) every period indicators’ average values and the graph’ average values of the Ricci curvatures (R). Using the Ricci curvature, the parameters of a dynamic model of sustainable growth are determined for Russia and for China oil and gas industry.Key words: sustainable growth, System Dynamic modelling, Ecological Finance, Ricci Curvature, environmental financial sustainable growth, Financial Sustainable Index (FSI).

Exploring the Impact Mechanism of Executives' Environmental Attention on Corporate Green Transformation—Evidence from MD&A Textual Analysis of Chinese Companies

“…The research on green transformation is mainly result-oriented, analyzing the critical influencing factors that promote the green transformation of regions and enterprises, and actively exploring the effective ways to promote green transformation. Steblyanskaya et al (2019) emphesize attention on systemic transition to the 'Eco-Finance' sustainable growth. The links between financial sustainability and nonfinancial factors were found.…”