Green Banking Tools for the Implementation of a State's Environmental Policy: Comparative StudyThe active implementation of climate change projects, the latest resource- and nature-saving technologies, and environmental measures for the green growth of na
Abstract
The active implementation of climate change projects, the latest resource- and nature-saving technologies, and environmental measures for the green growth of national economies require financial support. Currently, financial resources for environment-related investments and innovations are raised due to the increase of operational activities in banking institutions aimed at introducing green projects on the principles of environmental and socially responsible financing. This modern trend, known in the financial sphere as green banking, becomes relevant in countries where it is quite uncommon (for example, the Russian Federation and the Republic of Kazakhstan). The study aims at identifying the preferred tools for implementing the mechanism of green banking in Russia and Kazakhstan. The comparative analysis of expert opinions from Russia and Kazakhstan allows identifying both similarities and differences regarding the preferred instruments for providing monetary credits by green banking. However, the best lending rates for legal entities are considered the most preferable for experts from both countries.
The authors of the article conclude that the creation of a segment of green products and services in the financial market will serve not only the implementation of the green economy principles but also the formation of an effective environmental policy as a mechanism for implementing sustainable development goals supported by environmental financial policy.
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[4] Bezpalov, V.V., et al. 2021. Formation of an intelligent control system in the field of electric power industry based on the technological development of power supply components. Periodicals of Engineering and Natural Sciences, 9(3): 218-35.
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[6] Bukhari, S.A.A., Hashim, F. and Amran, A. 2022. Pathways towards green banking adoption: Moderating role of top management commitment. International Journal of Ethics and Systems, 38(2): 286-315.
[7] Chen, J., et al. 2022. The effect of green banking practices on banks' environmental performance and green financing: An empirical study. Energies, 15(4): 1292. DOI: https://doi.org/10.3390/en15041292
[8] Chowdhury, T.U., Datta, R. and Mohajan, H.K. 2013. Green finance is essential for economic development and sustainability. International Journal of Research in Commerce and Management Studies, 3: 104-8.
[9] Debnath, S., and Roy, S. 2019. Customer's awareness on green banking initiatives. Journal of Management, 7(2): 75-8.
[10] Deka, G. 2018. Adoption and usage of sustainable green banking practices: An empirical study on internet banking in Assam. International Journal of Business and Management Invention, 7(8): 9-22.
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[14] Kalymbek, B., Yerkinbayeva, L. Bekisheva, S. and Saipinov. D. 2021. The effect of digitalization on environmental safety. Journal of Environmental Management and Tourism, 12(5): 1299-306.
[15] Laiskhanov, S.U., et al. 2021. A study of the processes of desertification at the modern delta of the Ili River with the application of remote sensing data. Journal of Ecological Engineering, 22(3): 169-78. DOI:https://doi.org/10.12911/22998993/132546
[16] Lalon, R.M. 2015. Green banking: Going green. International Journal of Economics, Finance and Management Sciences, 3: 34-42.
[17] Lawrencenko, S., Gladskaya, I.G. Zgonnik, L.V. and Sumzina, L.V. 2017. A smart energy meter. In: Power quality management. Proceedings of the International Conference, Moscow, Russia, November 23-25, 2016, 177-84. Moscow: Raduga Publishers, 300 p.
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[19] Martirosyan, A.V., Ilyushin, Y.V. and Afanaseva, O.V. 2022. Development of a distributed mathematical model and control system for reducing pollution risk in mineral water aquifer systems. Water, 14(2): 151. DOI: https://doi.org/10.3390/w14020151
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[21] Nugmanov, A.B., et al. 2022. Poly-species phytocenoses for ecosystem restoration of degraded soil covers. OnLine Journal of Biological Sciences, 22(3): 268-78. DOI: https://doi.org/10.3844/ojbsci.2022.268.278
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[28] Suleimenova, N., et al. 2021. A resource conservation technology for adapting argroecosystems to the new natural conditions of a warming climate in South-Eastern Kazakhstan. OnLine Journal of Biological Sciences, 21(2): 376-87. DOI: https://doi.org/10.3844/ojbsci.2021.376.387
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[30] Tsenina, E., et al. 2022. Cluster analysis of the expenditures for environmental and technological innovations in sustainable development policy formation. Journal of Environmental Management and Tourism, 13(1): 63-74. https://www.journals.aserspublishing.eu/jemt/article/view/6809
[31] Vasilev, A. 2022. Credit Liberalization Reform: A Simple Model. Theoretical and Practical Research in the Economic Fields, Volume 13, Issue 2(26), DOI: https://doi.org/10.14505/tpref.v13.2(26).05
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[33] Wörsdörfer, M. 2016. 10 years equator principles: A critical appraisal. In Responsible investment banking, K. Wendt (ed.), 473-501. Cham: Springer.
[34] Yerkinbayeva, L., et al. 2022. Digitalization of environmental information in the Republic of Kazakhstan: Issues of legal regulation. Journal of Environmental Management and Tourism, 13(1): 115-27.
[35] Yin, W., Kirkulak-Uludag, B. and Zhang, S. 2019. Is financial development in China green? Evidence from city level data. Journal of Cleaner Production, 211: 247-56.
[36] Zhang, B., Yang, Y. and Bi, J.2011. Tracking the implementation of green credit policy in China: Top-down perspective and bottom-up reform. The Journal of Environmental Management, 92: 1321-7.
[37] Zhao, C.P., Gukasyan, G. Bezpalov, V. and Prasolov, V. 2020. Development of modern standards for energy efficiency of industrial enterprises within the European Union policy. International Journal of Energy Economics and Policy, 10(6): 451-9.
[38] Principles of the state policy in the area of environmental development of the Russian Federation for the period up to 2030 (approved by the President of the Russian Federation of April 30, 2012). Available at: https://docs.cntd.ru/document/902369004 (in Russian)
[39] The Code of the Republic of Kazakhstan of January 2, 2021 No. 400-VI "The Environmental Code of the Republic of Kazakhstan" (as amended and on December 27, 2021). Available at: https://adilet.zan.kz/rus/docs/K2100000400 (in Russian)
Published
2023-03-10
How to Cite
MARKHAYEVA, Bayanslu et al.
Green Banking Tools for the Implementation of a State's Environmental Policy: Comparative StudyThe active implementation of climate change projects, the latest resource- and nature-saving technologies, and environmental measures for the green growth of na.
Journal of Environmental Management and Tourism, [S.l.], v. 14, n. 1, p. 160 - 167, mar. 2023.
ISSN 2068-7729.
Available at: <https://journals.aserspublishing.eu/jemt/article/view/7638>. Date accessed: 24 apr. 2024.
doi: https://doi.org/10.14505/jemt.14.1(65).15.
Section
Article
Copyright© 2023 The Author(s). Published by ASERS Publishing 2023. This is an open access article distributed under the terms of CC-BY 4.0 license.