ESG banking in Russia and abroad: directions, tools and problems of development

Vasiliev Igor Ivanovich

The economic growth of any country is invariably accompanied by a deterioration in the environmental situation with simultaneous improvement or stagnation of the economic sphere. One of the main tasks of modern economists is to draw up such a development path that would simultaneously develop production capacities in the country, the financial sphere, and at the same time take into account the improvement of the social sphere and minimization of the negative impact on the environment. One of the most important roles in the transition of the economy to such a vector of development should belong to banks. It is they, implementing their credit policy, who can directly influence which areas will develop faster, more dynamically, more efficiently. Therefore, it is necessary to understand how the ESG agenda can be implemented in commercial universal banks, in specialized institutions, and how the state and private investors can influence this development. ESG banking is a strong catalyst for the development of the ESG direction, it stimulates the transition to modern safe technologies and at the same time provides opportunities for this transition.

Keywords:"green" direction, ESG agenda, ESG banking, ecology, mutual funds, ESG standard.