Green finance

Abstract

Many countries are currently forming and developing a green financial system focused on economic growth, social security and environmental protection. The paper provides a rationale for the term green finance and proves the need for reorganization of the financial system with regard to environmental problems that pose significant risks for the financial sector. Systematization and analysis of green stimulus policies used in global and Russian practice with account of the economic crisis of 2020, and assessment of the state of the environmental segment of the financial market made it possible to single out green bonds and loans as the most promising financial instruments, as well as to formulate the main tasks faced by the governments of most countries for development of green finance and to justify the need for standardized approaches to assessing the effectiveness of environmental projects, to improve green financial products, and to attract a wide variety of investors, including the population, for funding regional and municipal green projects.