Development of the market of «green» financial instruments in conditions of uncertainty

The article substantiates the reasons for the relevance of studying the development of the market of «green» financial instruments, provides arguments for the potential of its development and the range of questions asked by scientists of individual countries, including Russia. The list of issues is quite wide and includes such as determining the types of financial instruments that experts and public organizations refer to as «green», substantiating the role of the «green» financing market in economic development, identifying factors affecting the pricing process of «green» bonds and forming «green» financial indices. Opinions are given on the reasons for Russia’s lag in the process of the formation of the market of «green» financial instruments, ways to overcome them. Of particular importance is the state support of market participants, including the mechanism of concessional lending, supplemented by the provision of credit guarantees in support of private investment in «green» projects, which is important to reduce uncertainty in their implementation and financing. The dynamics of market development by countries, types of issuers and investment objects are considered. Priorities in financing «green» projects are justified by the leading countries. The level of the formed legal framework in the field of regulation of the market of «green» financial instruments is assessed.