Economic security Economic security Экономическая безопасность 2658-7548 BIBLIO-GLOBUS Publishing House 117907 10.18334/ecsec.6.2.117907 LEUSLD Articles Статьи Research Article Factors facilitating and hindering the development of ESG investments in Russia Factors facilitating and hindering the development of ESG investments in Russia Aleksey Ivanovich Bolonin Алексей Иванович Болонин

д.э.н., профессор факультета мировых финансов Финансового университета при Правительстве РФ

 AIBolonin@fa.ru Kuksov Artem Sergeevich Куксов Артем Сергеевич

магистр экономики факультета мировых финансов Финансового университета при Правительстве РФ

 kuksov.kft@gmail.com Financial University under the Government of the Russian Federation Financial University under the Government of the Russian Federation 30 06 2023 6 2 VOL 6, NO2 (2023) ТОМ 6, №2 (2023) 807 826 04 05 2023 05 05 2023 Copyright ©; 2023, Bolonin A.I., Kuksov A.S. Copyright ©; 2023, Bolonin A.I., Kuksov A.S. 2023 Bolonin A.I., Kuksov A.S. Bolonin A.I., Kuksov A.S. https://1economic.ru/lib/117907

Today's discussion about sustainable development has its roots in the 1970-s and evolving along with growing social and environmental crises. For a long time, to integrate non-financial issues into asset management processes, the financial market has experimented with various approaches, using names such as «ethical», «socially responsible» or «sustainable investment». Climate change, as one of the three global problems of mankind creates significant financial problems for the world community. Investors are currently trying to take environmental, social and governance (ESG) into account when making investment decisions. At the same time, market participants are still little aware of the nuances of the ESG integration process, which is sometimes associated with the approach to the withdrawal of individual industries, firms and projects from the portfolio. Investors believe that corporate governance issues are critical as they directly affect profitability and, ultimately, a firm's dividend policy. However, few people are aware of the impact of environmental and social factors on the company's financial performance.

Today's discussion about sustainable development has its roots in the 1970-s and evolving along with growing social and environmental crises. For a long time, to integrate non-financial issues into asset management processes, the financial market has experimented with various approaches, using names such as «ethical», «socially responsible» or «sustainable investment». Climate change, as one of the three global problems of mankind creates significant financial problems for the world community. Investors are currently trying to take environmental, social and governance (ESG) into account when making investment decisions. At the same time, market participants are still little aware of the nuances of the ESG integration process, which is sometimes associated with the approach to the withdrawal of individual industries, firms and projects from the portfolio. Investors believe that corporate governance issues are critical as they directly affect profitability and, ultimately, a firm's dividend policy. However, few people are aware of the impact of environmental and social factors on the company's financial performance.

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