The practice of using ESG-project financing tools in the regions of the Russian Federation

The purpose of the study is to analyze the practical experience of the subjects of the Russian Federation in the application of traditional and relatively new sources of financing for sustainable development projects. The article presents a comparative analysis of the positions of the regions of the Volga Federal District in the generally recognized ESG rankings. The authors of the work summarized the experience of the Nizhny Novgorod region in the framework of the implementation of the ESG agenda, special attention is paid to the analysis of sources and amounts of financing of socially useful (social) projects, issues of attracting financial resources for the implementation of these projects on the basis of public-private partnerships and concession agreements. The significance of the work also lies in the systematization of information on the placement of green and social bonds by Russian issuers. Based on the calculation of the dynamics of the public debt of the Nizhny Novgorod region, the results of the assessment of the debt sustainability of the region by the Ministry of Finance of the Russian Federation, the value of the creditworthiness rating, the authors predict the prospect of issuing green and social bonds. As a result of the work done, the insignificant experience of the Russian Federation subjects regarding the use of the tools listed above at the time of writing was confirmed, the possibility of the Nizhny Novgorod region issuing green and social bonds was substantiated.