Coalitions for Sustainable Finance and Sustainable Development

Abstract

Abstract: This article deals with the formation of coalitions for sustainable development and sustainable finance in developed countries and in Russia. In developed countries, broad national coalitions for sustainable development have been formed based on the initially established industry coalitions of investors and financial institutions for sustainable finance. The ideological core of such coalitions is the idea of new models of capitalism based on the principles of sustainable development as an ideal social structure. The concepts of stakeholder capitalism and the impact or caring economy are examples of such models. In Russia, similar coalitions are much narrower because of the imitation of following the environmental, social, and governance (ESG) principles and mass greenwashing. At the same time, there are objective factors that can lead to the expansion of ESG coalitions and strengthening incentives for the implementation of a sustainable development model in Russia.