Approaches to Financing Projects and Programs Aimed at Improving the Environmental Situation

Financial support for “green” projects can take various forms and types; now, when the urgency of solving environmental problems is higher than ever, the need to develop mechanisms for financing such projects and establish appropriate institutions for this purpose is increasing in most countries. This article examines the most frequently used instruments for financing such projects, such as “green” bonds (issued by various actors – from municipalities to large commercial enterprises), “green” loans (their terms can be varied, but the funds must certainly be directed to support environmentally friendly projects) and “green” subsidies (from government actors in its various forms – from benefits to direct provision of financial assistance). The experience of other countries actively developing “green” financing instruments is analyzed, as well as the applicability of some best practices to the realities of modern Russia in the context of current geopolitical turbulence.