Green Finance Instruments as a Factor of Increasing Industrial Waste Utilization in Russia
https://doi.org/10.26794/2587-5671-2022-26-6-17-31
Abstract
Influenced by the governmental policy of national economy decarbonization and greening fundamentally new institution of green finance is currently developing in Russia. One of the key areas for the development of green finance is industrial waste disposal. The aim of the paper is to determine the efficiency of green financing of industrial waste utilization projects in Russia. The methodological basis of the paper consists of domestic and foreign scientific articles in the field of green financing and waste disposal, regulatory legal acts of the Russian Federation, as well as Rosstat data on the volume of industrial waste disposal. As a research method, the authors applied an analytical approach to systemize green finance concept definitions, and analyzed foreign experience of using green financial instruments in the industrial waste management industry. The article represents the content analysis of the Russian taxonomy of green and adaptation projects, as well as an assessment of the industrial waste utilization volumes that can potentially be achieved due to the implementation of projects within the framework of taxonomy areas. The results of the analysis show that through the implementation of green and adaptation projects, it is possible to additionally dispose of about 91 million tons of industrial waste, or 2.5% of the total volume of waste generated. Such a low recycling rate is a result of the limited amount of industrial waste types, the utilization of which is included in the taxonomy. It is necessary to expand the list of industrial waste, the disposal of which can be recognized as an independent project or a criterion for the implementation of projects within the framework of the taxonomy.
About the Authors
N. A. Osokin
Financial University
Russian Federation
Competing Interests:
Russian Federation
Nikita A. Osokin – Cand. Sci. (Econ.), Deputy Director, Center of Sectoral Research and Consulting
Moscow
Competing Interests:
The authors have no conflicts of interest to declare
Yu. V. Nikitushkina
Financial University
Russian Federation
Competing Interests:
Russian Federation
Yuliya V. Nikitushkina – Chief Consultant, Center of Sectoral Research and Consulting
Moscow
Competing Interests:
The authors have no conflicts of interest to declare
I. Yu. Zolotova
Financial University
Russian Federation
Competing Interests:
Russian Federation
Irina Yu. Zolotova – Director, Center of Sectoral Research and Consulting
Moscow
Competing Interests:
The authors have no conflicts of interest to declare
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For citations:
Osokin N.A., Nikitushkina Yu.V., Zolotova I.Yu. Green Finance Instruments as a Factor of Increasing Industrial Waste Utilization in Russia. Finance: Theory and Practice. 2022;26(6):17-31. https://doi.org/10.26794/2587-5671-2022-26-6-17-31
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