MOSCOW, June 30. /TASS/. The global transition to a green economy can reduce the export potential of some Russian industries, but increase the potential of others, Governor of the Bank of Russia Elvira Nabiullina said on Wednesday.
"The global transition to a green economy can reduce the export potential of some Russian industries, but increase the potential of others. And here it is also important not to miss the moment in reorienting the economy. And, accordingly, reorienting the financial sector," she said.
ESG financing is a specific approach to financing that focuses on the environment, social development, and corporate governance.
At the moment, ESG financing is quite popular in Western countries, and recently it has also become popular among Russian companies. In particular, the topic of "green" financing is being worked out separately in Russia, which involves the provision of funds for a project subject to environmental improvement, mitigation of climate change, and more efficient use of resources.