Keywords
Sustainable development
Financial market capacity
How to Cite
Abstract
An analysis of the dynamics of the green bond market development indicators is presented in this article. The analysis was carried out in the sectoral context based on data from the Russian green bond market. The authors assessed the development potential of the Russian green bond market. The assessment was carried out with the aim of achieving the market's target indicators in the field of ESG-orientation. The analyzed data showed that while the Russian green bond market is still relatively small, there is significant potential for growth in the coming years, driven by increasing demand from investors and a growing pipeline of potential issuers. The bigger potential for the development of the green bond market in Russia showed the Utility sector which may become the driving force of the market next years.
References
Belkin, P. A., Posmakov, N. P., & Rostovsky, N. S. (2020). The use of blockchain technologies in the electric power industry as a connecting digital technology in the transition to decentralized generation. Modern Science-Intensive Technologies, 3, 19-24. https://doi.org/10.17513/snt.37933
Berdnikov, D. V. (2020). Digitalization of the electric power industry as a way to increase the efficiency of large grid companies. Economics: Yesterday, Today, Tomorrow, 10(10A), 394-402.
Boffo, R., & Patalano, R. (2020). ESG Investing: Practices, progress and challenges. Paris: OECD. https://www.oecd.org/finance/ESG-Investing-Practices-Progress-Challenges.pdf
Climate Bonds Initiative (2021) Russian Federation adopts green taxonomy: Matches 100g CO2 gas-power threshold in EU Parliament’s approved Act. Retrieved on January 1, 2023 from https://www.climatebonds.net/resources/press-releases/2021/11/russian-federation-adopts-green-taxonomy-matches-100g-co2%C2%A0gas-power
Climate Bonds Initiative (n.d.) Interactive Data Platform. Retrieved on January 1, 2023 from https://www.climatebonds.net/market/data/
Crespi, F., & Migliavacca, M. (2020). The determinants of ESG rating in the financial Industry: The same old story or a different tale? Sustainability, 12(16), 6398. https://doi.org/10.3390/su12166398
Darškuvienė, V. (2010). Financial markets. Education and Culture. Lifelong Learning Programme. Leonardo Da Vinci – Transfer of Innovation. https://www.bcci.bg/projects/latvia/pdf/7_Financial_markets.pdf
European Bank. (2021). The EBRD’s approach to accelerating the digital transition, 2021-25. https://www.ebrd.com/ebrd-digital-approach.html
Federal State Statistics Service of the Russian Federation. (n.d.). Reports. Official website. https://rosstat.gov.ru
Feyen, E., Frost, J., Gambacorta, L., Natarajan, H., & Saal, M. (2021). Fintech and the digital transformation of financial services: Implications for market structure and public policy. The Bank for International Settlements and the World Bank Group. https://www.bis.org/publ/bppdf/bispap117.pdf
Iberdrola (2022) We place €1.5 billion green bond with strong investor support. News. Retrieved on January 1, 2023 from https://www.iberdrola.com/press-room/news/detail/we-place-15-billion-green-bond-with-strong-investor-support
International Capital Market Association (ICMA). (2021). The sustainability bond guidelines. Paris: ICMA Paris Representative Office. https://www.icmagroup.org/assets/documents/Sustainable-finance/2021-updates/Sustainability-Bond-Guidelines-June-2021-140621.pdf
Kitsios, F., Giatsidis, I., & Kamariotou, M. (2021). Digital transformation and strategy in the banking sector: Evaluating the acceptance rate of E-services. Journal of Open Innovation: Technology, Market, and Complexity, 7(3), 204. https://doi.org/10.3390/joitmc7030204
Murdoch, A. (2021). Why Enel’s record-breaking sustainability-linked bond matters. Capital monitor. Retrieved on January 1, 2023 from https://capitalmonitor.ai/sector/energy-and-utilities/why-enels-record-breaking-sustainability-linked-bond-matters/
Rogalev, N .D. (Ed.). (2021). Functioning and development of the electric power industry in the era of digitalization. Moscow: Moscow Humanitarian Economic University, 272 p.
Scatigna, M., Xia, D., Zabai, A., & Zulaica, O. (2021) Achievements and challenges in ESG markets. BIS Quarterly Review, December 2021, 83-97. https://doi.org/10.2139/ssrn.3989761
The Central Bank of the Russian Federation (2021) Bank of Russia Annual Report for 2020. Retrieved Retrieved on January 1, 2023 from http://www.cbr.ru/collection/collection/file/39294/ar_2020.pdf
Turovets, Yu., Proskuryakova, L., Starodubtseva, A., & Bianko, V. (2021) "Green" digital transformation in the electric power industry. Forsyth, 15(3), 35-51. https://doi.org/10.17323/2500-2597.2021.3.35.51
Velloso, H. (2017). The rise of green bonds Financing for development in Latin America and the Caribbean. Washington: Economic Commission for Latin America and the Carribean. https://repositorio.cepal.org/bitstream/handle/11362/42230/1/S1700985_en.pdf
Weber, O., & Saravade, V. (2019) Green bonds current development and their future. Waterloo: Centre for International Governance Innovation. https://www.cigionline.org/static/documents/documents/Paper%20no.210_0.pdf
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Copyright (c) 2023 Lex Humana (ISSN 2175-0947)