Photo by: gregory_lee / iStock
Russia has national green finance rules, an infrastructure for raising funds through this instrument and organisations that help this market function: green bond issuers, verifiers, rating agencies and ESG transformation consultants.
The market boomed in 2019-2021, but in 2022 its development was stalled by the situation in the financial markets: high currency volatility and a sharp increase in the Central Bank’s key rate to 20%.
However, the market then revived: VEB.RF issued green bonds worth 50 billion roubles and DOM.RF social bonds worth 10 billion roubles. Now the situation in the financial sector has stabilised. I am sure that sustainable financing instruments in our country will develop and become more accessible.
Cover photo: Nikita Burdenkov / iStock
Comments