ANALYSIS OF AGENCY RELATIONS IN THE APPLICATION OF FINANCIAL INSTRUMENTS OF THE "GREEN" ECONOMY

  • E.A. Krutsan Pacific National University, Khabarovsk, Russia
  • L.A. Romanova Pacific National University, Khabarovsk, Russia
  • T.V. Beregovykh Pacific National University, Khabarovsk, Russia
DOI: https://doi.org/10.34680/BENEFICIUM.2024.4(53).124-135

Abstract

Serious environmental problems and active dissemination of ESG principles in the commercial environment have made it impossible for humanity to continue to exist without greening life. The gradual development of these processes has reached the national level until changes are made to the relevant state processes. At this stage, the main subject of interaction between persons interested in achieving environmental sustainability goals is the introduction and application of “green” financial instruments. The purpose of this article is to analyze the practice of using new financial instruments to establish a sustainable environmentally oriented financial policy in the region. Consideration of this process at the regional (subject) level is determined not only by the scale of the country, but also by the characteristics of each subject, for which a certain mechanism for achieving the goals of a sustainable environmentally oriented financial policy will be applicable. To achieve this goal, the authors used a huge set of tools, analyzed the collected data and compared various elements of the “green” economy.  The article describes the most popular “green” financial instruments, provides a brief review of the literature on the main components of the functioning of these instruments in terms of evaluating their effectiveness and management methods. For a successful analysis of the implementation of sustainable ecological and economic development, the main limitations in the transition of the subjects of the Russian Federation to an environmentally oriented economy, as well as the influence of stakeholders on these factors, were highlighted. Having received all the main components, for the most accurate presentation of the research results, 3 bundles were considered: “tools-stakeholders”, “stakeholders-factors of ecological and economic development”, “tools-factors of ecological and economic development”. The main result of the study was a summing up of the results of evaluating the effectiveness of the use of “green” financial instruments, as well as a generalization of the advantages and disadvantages of their existence. The practical significance of the study lies in Russia's gradual transition to a “green” economy and the principles of “green” financing, for which it is necessary to study very carefully the mechanisms and methods used to achieve a transition to an environmentally oriented financial policy at the level not only of individual leading regions, but also of the whole country.   

Keywords: agency relations, "green" economy, tools of "green" economy, regional finance,         stakeholders, factors of regional development, environmentally oriented policy

 

Acknowledgements. The study was funded by the Russian Science Foundation grant                        No. 24-28-20238, https://rscf.ru/project/24-28-20238/ and the Ministry of Education and Science of Khabarovsk Krai (Agreement No. 122C/2024). 

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About the Authors

Elizaveta A. Krutsan – Laboratory Assistant, Pacific National University, Khabarovsk, Russia. E-mail: 2020102660@pnu.edu.ru. SPIN РИНЦ 6488-9529. ORCID 0009-0007-0131-0333. 

Liudmila A. Romanova – Cand. Sci. (Economics); Associate Professor, Pacific National University, Khabarovsk, Russia. E-mail: 007634@pnu.edu.ru. SPIN РИНЦ 3972-6765. ORCID 0000-0002-7659-105X. Scopus Author ID 57485322700

Tatiana V. Beregovykh – Cand. Sci. (Economics), Docent; Associate Professor, Pacific National University, Khabarovsk, Russia. E-mail: 000329@pnu.edu.ru. SPIN РИНЦ 6042-3824. ORCID 0000-0003-0231-2414

For citation: Krutsan E.A., Romanova L.A., Beregovykh T.V. Analysis of Agency Relations in the Application of Financial Instruments of the "Green" Economy // Beneficium. 2024. Vol. 4(53). Pp. 124-135. (In Russ.). DOI: 10.34680/BENEFICIUM.2024.4(53).124-135

Published
2024-11-29
Issue
No 4 (2024)
Section
REGIONAL SUSTAINABLE DEVELOPMENT