Vol. 52 No. 10 (2022)
Cover story: The Address of Happiness: Siberia!

Green Finance – Problems of Classification

A.A. Balabin
Institute of Economics and Industrial Engineering, SB RAS; Novosibirsk State Technical University, Novosibirsk

Published 2022-09-28

Keywords

  • green finance; green investment; green legislation; taxonomy; carbon neutrality; verification of green finance

How to Cite

1.
Balabin А. Green Finance – Problems of Classification. ECO [Internet]. 2022 Sep. 28 [cited 2024 Nov. 24];52(10):8-26. Available from: https://ecotrends.ru/index.php/eco/article/view/4515

Abstract

The paper reviews the classification of “green” activities and their corresponding “green finance”. It is found that the currently accepted classifications (taxonomies) of “green” activities are incomplete and have significant country differences. As a result, existing estimates of the need for green finance/investment are very approximate. The role of many financial institutions and operations in green investing is unclear. The debate about the need for specific green labelling of financial instruments is not over. These issues become very important in the context of international activities of companies, regardless of their geography and markets. The author considers it inexpedient in the current general political and general economic situation to seek to finalize the “green” legislation in Russia, adjusting to the “raw” regulations of foreign countries and international unions. However, this does not mean that the national objectives for the transition to the best available technologies that contribute to the conservation of natural resources and environmental protection should not be fulfilled.

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