Responsible financing and corporate governance

The transition to a sustainable development model is one of the most significant trends of our time. For the success of this transition, it is necessary not only to modernize the system of public policy, but also to transform corporate governance. The analysis shows that the incorporation of elements of the sustainable development concept into corporate governance is constrained by high financial risks of such activities. These risks are because "sustainable" projects have lower returns than traditional projects. It is possible to remove these problems through the development of responsible financing mechanisms. At present, these mechanisms in Russia are underdeveloped. The article proposes to accelerate the development of responsible financing institutions based on more active involvement of state resources.