Green investment and green economic development in Russia, 2010–2021
Green investment and green economic development in Russia, 2010–2021

Summary/Abstract: This study aims to assess the impact of green investment on the quality of green economic development in 85 constituent entities of Russia during the period 2010–2021. The research findings indicate that the development of green economic practices in these entities is not random but has interrelationships with neighbouring entities. Green investment is an important factor in promoting the quality of green economic development, not only within a single entity but also spilling over to neighbouring entities. Furthermore, the authors also discovered that green investment not only directly affects the quality of green economic development but also indirectly enhances it by reducing environmental pollution. In terms of policy implications, the spillover effects in green investment, CO2 emissions, and green economic development in the constituent entities of Russia highlight the importance of cooperation among entities in jointly advancing green economic development. Careful consideration should also be given to environmental impacts in the formulation of development policies, as they can affect neighbouring entities. Given the limited participation of entities and financial resources for green investment, the Russian government needs to design a clear roadmap for transitioning to a green economy, particularly through policy tools such as taxes and subsidies for green companies and projects, while also encouraging financial institutions to participate in the provision of green financial instruments.

• Details
• Contents