The market of "green" finance in Russia: trends and perspective

In 2008, the «Concept for the long-term socio-economic development of the Russian Federation until 2020» noted the exhaustion of the export-raw material model of economic development, and one of the goals was the introduction of clean production technologies. One of the key areas for achieving this goal is the «green» investment projects aimed at environmental protection and rational use of natural resources. However, Russia has not yet created a financing mechanism for such projects adequate to the requirements of the time. «Green» financing is a tool for ensuring the implementation of «green» projects, technologies, events, which has a high duration, has a positive impact on the environment and, as a result, on the well-being of the population. As aspects reflecting the development of «green» financing in Russia, the following were analyzed: investments in fixed assets aimed at environmental protection and rational use of resources and their share in investments in fixed assets; green bond market; structure of financing investment projects by large companies not interested in greening the economy (banks). The analysis revealed that investments in fixed assets aimed at environmental protection and rational use of resources are clearly not enough to maintain the ecosystem at the proper level. This is precisely the main problem of the formation of a «green» economy in Russia. Having considered the Russian market for «green» bonds, we can conclude that while the market is at the stage of formation, many infrastructure elements are practically absent. It is important to note that the demand for a «green» economy will increase, as society becomes aware of the feasibility of economic development based on strict adherence to environmental norms and standards.