ESG Investments in Support of the Development of the Green Economy in Russia and Central Asia

Purpose: This paper considers the features of ensuring ESG investing in the conditions of the development of the green economy in Russia and countries of Central Asia and identifies the main directions for this investing and its state in the region. Design/methodology/approach: The methodology is based on the concept of sustainable development, which combines the UN Sustainable Development Goals, the concept of climate and social responsibility and ESG management, which, in their turn, are combined with investment processes and are implemented through the systems approach within the concept of sustainable investing and green finance. The main methods applied in this paper are analysis and synthesis, observation and grouping, generalisation and critical assessment. Findings: This paper outlines the main environmental problems of the development of the economies of Russia and countries of Central Asia, determines the potential of the green economy for solving the designated problems, identifies the role of green finance in this process, proposes and characterises the classification of the main spheres and directions for ESG investing, describes the main tools of green investing, characterises the key aspects of ESG investing in Russia and Kazakhstan, and determines factors that influence the state of ESG investing in the modern conditions. Originality/value: This paper is original due to the performed classification of the main spheres and directions of ESG investing, which allows implementing investment policy better and ensuring the development of the green economy.