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Finance and Credit
 

Green financing standards: Foreign experience and domestic practice

Vol. 28, Iss. 10, OCTOBER 2022

Received: 11 August 2022

Received in revised form: 25 August 2022

Accepted: 8 September 2022

Available online: 27 October 2022

Subject Heading: INVESTING

JEL Classification: G2

Pages: 2249–2264

https://doi.org/10.24891/fc.28.10.2249

Svetlana G. BUSALOVA National Research Ogarev Mordovia State University (MRSU), Saransk, Republic of Mordovia, Russian Federation
sbusalova@yandex.ru

https://orcid.org/0000-0001-5919-8400

Ekaterina S. BAZARNOVA National Research Ogarev Mordovia State University (MRSU), Saransk, Republic of Mordovia, Russian Federation
katyabazarnova@yandex.ru

ORCID id: not available

Subject. This article considers the green financing standards used in international and Russian practices.
Objectives. The article aims to study the foreign experience of standardization of green financing and develop recommendations for improving financing of this type in domestic practice.
Methods. For the study, we used the methods of comparative analysis, classification, problem analysis, ranking, and the systems approach.
Results. The article puts forward certain proposals related to the development and support of the green finance market in the Russian Federation, and highlights a number of overriding priority problems, the solution of which will be able to provide a sustainable foundation for the further development of green financing.
Conclusions. Currently, there is no unity of certification standards, which may be a result of insufficient market maturity. However, the demonstration of successful foreign experience in implementing standards is a positive marker for entities interested in using such financial instruments. The consolidation of international and national standards strengthens the confidence of issuers and investors in the targeted nature of the use of invested assets.

Keywords: green finance, green finance standards, green bonds, foreign experience

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