About the Growing Role of Green Finance in Providing Financial Stability
https://doi.org/10.33293/1609-1442-2020-2(89)-83-95
Abstract
Keywords
Journal of Economic Literature (JEL): G32; Е52; Q54; F42
About the Authors
Mikhail V. ErshovRussian Federation
Anna S. Tanasova
Russian Federation
Elena Yu. Sokolova
Russian Federation
References
1. Arkhipova V. (2017) «Green Finance» as Recipe for Solving Global Problems. HSE Economic Journal, vol. 21, no. 2, pp. 312–332 (in Russian).
2. The concept of organizing in Russia a methodological system for the development of green financial instruments and responsible investment projects. (2019). Expert advice on the long-term investment market at the Bank of Russia. (in Russian). URL: http://www.cbr.ru/Content/Document/File/84163/press_04102019.pdf.
3. Nikonorov S. M. (2017). To green economy through green finance, bioeconometrics and sustainable development. Russian Political Science, no 3, pp. 12–15 (in Russian).
4. Porfiriev B. N. (2016). Green finance in the global financial system. Mirovaya ekonomika i mezhdunarodnye otnosheniya, no. 9, pp. 5–16 (in Russian).
5. Rubtsov B. B., Guseva I. A., Il'inskij A.I., Lukashenko I. V., Sadretdinova A. F., Alykova S. M. (2016). Green finance in the world and in Russia. Ed. by B. B. Rubtsov. Moscow, Rusains. P. 170 (in Russian).
6. Yakovlev I. A., Kabir L. S., Rakov I. D. (2017). Green investments in Russia: main tendencies. Economics: Theory Practice, no. 3 (47), pp. 66–75 (in Russian).
7. Autorité de Contrôle Prudentiel et de Résolution (2015). Climate change: which risks for banks and insurers? URL: https://acpr.banque-france.fr/sites/default/files/medias/documents/as_cover_note_en.pdf.
8. Bank for International Settlements (2019). Quarterly Review, September. URL: https://www.bis.org/publ/qtrpdf/r_qt1912.pdf.
9. Bank of England. Prudential Regulatory Authority (2019). Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change. April. Policy Statement 11/19. Consultation Paper 23/18. URL: https://www.bankofengland.co.uk/prudential-regulation/publication/2018/enhancing-banks-and-insurers-approaches-to-managing-the-financial-risks-from-climate-change.
10. Bank of England (2019). Financial Stability Report. July. URL: https://www.bankofengland.co.uk/-/media/boe/files/financial-stability-report/2019/july‑2019.pdf.
11. Brainard L. (2019). Why Climate Change Matters for Monetary Policy and Financial Stability. Federal Reserve System. November 8. URL: https://www.federalreserve.gov/newsevents/speech/brainard20191108a.htm.
12. Carney M. (2015). Breaking the tragedy of the horizon – climate change and financial stability. Speech at Lloyd’s of London. London, 29 September. URL: https://www.bis.org/review/r151009a.pdf.
13. Carney M. (2016). Remarks on the launch of the Recommendations of the Task Force on Climate-related Financial Disclosures. December. URL: https://www.bis.org/review/r161216h.pdf.
14. Intergovernmental Panel on Climate Change (2018). Summary for Policymakers: Global Warming of 1.5 °C. October. URL: https://report.ipcc.ch/sr15/pdf/sr15_spm_final.pdf.
15. Network for Greening the Financial System. NGFS (2019a). A call for action Climate change as a source of financial risk. April 2019. URL: https://www.dnb.nl/binaries/NGFS%20Call%20for%20action%20report_tcm46–383435.pdf
16. Network for Greening the Financial System. NGFS (2019b). Macroeconomic and financial stability Implications of climate change. July 2019. URL: https://www.dnb.nl/en/binaries/Macroeconomic%20and%20financial%20stability.%20Implications%20of%20climate%20change_NGFS_report_technical_supplement_July2019_tcm47-385051.pdf.
17. OECD. Investing in climate, Investing in growth (2017). Paris. URL: https://www.oecd.org/env/investing-in-climate-investing-in-growth‑9789264273528-en.htm.
18. Task Force on Climate-related Financial Disclosures (2019): Status Report. June. URL: https://www.fsb.org/2019/06/task-force-on-climate-related-financial-disclosures‑2019-status-report/.
19. UK HM Government. Green Finance Strategy (2019). Transforming Finance for a Greener Future. July 2019. URL: https://www.gov.uk/government/publications/green-finance-strategy.
20. UNCTAD. Economic challenges lie ahead as climate change wreaks havoc (2018). October 2018. URL: https://unctad.org/en/pages/newsdetails.aspx? OriginalVersionID=1882.
21.
22.
Review
For citations:
Ershov M.V., Tanasova A.S., Sokolova E.Yu. About the Growing Role of Green Finance in Providing Financial Stability. Economics of Contemporary Russia. 2020;(2):83-95. (In Russ.) https://doi.org/10.33293/1609-1442-2020-2(89)-83-95