emjumeЭкономика и управлениеEconomics and Management1998-16273033-7984СПбУТУиЭ10.35854/1998-1627-2020-11-1236-1244emjume-1019Research ArticleГОСУДАРСТВЕННО-ЭКОНОМИЧЕСКАЯ ПОЛИТИКА И МЕНЕДЖМЕНТ ОРГАНИЗАЦИИNATIONAL ECONOMIC POLICY AND CORPORATE MANAGEMENTКлючевые драйверы и барьеры для мобилизации институциональных инвестиций в проекты, связанные с климатомKey Drivers and Barriers for the Mobilization of Institutional Investment in Climate-Related ProjectsНикулинаС. И.NikulinaS. I.

Никулина Светлана Игоревна, старший научный сотрудник Центра международных финансов

127006, Москва, Настасьинский пер., д. 3, стр. 2

Svetlana I. Nikulina, Senior Researcher of the Center for International Finance

3, Bld. 2, Nastas'inskiy Lane, Moscow, 127006

snikulina@nifi.ruНаучно-исследовательский финансовый институт Министерства финансов РФFinancial Research Institute of the Ministry of Finance of the Russian Federation202016012021261112361244Copyright © Никулина С.И., 20212021Никулина С.И.Nikulina S.I.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://emjume.elpub.ru/jour/article/view/1019

Исследование посвящено проблеме расширения участия институциональных инвесторов в климатическом финансировании.

Цель

Цель. Определить ключевые драйверы и барьеры для расширения участия институциональных инвесторов в климатическом финансировании.

Задачи

Задачи. Рассмотреть процесс трансформации понятия фидуциарного долга институциональных инвесторов. Изучить предпринимаемые на международном уровне усилия, способствующие учету климатических рисков и мобилизации институциональных инвестиций в низкоуглеродные проекты. Проанализировать факторы, препятствующие более широкому вовлечению институциональных инвесторов в климатическое финансирование.

Методология

Методология. При выполнении исследования использовались общие методы научного познания, такие как синтез и анализ.

Результаты

Результаты. Описан процесс трансформации понятия фидуциарного долга институциональных инвесторов и дана его современная трактовка. Определены факторы, способствующие учету климатических рисков и повышению роли институциональных инвесторов в климатическом финансировании. Выделены основные барьеры для включения институциональными инвесторами вопросов изменения климата в процесс принятия инвестиционных решений.

Выводы

Выводы. В настоящее время на международном уровне идет активный процесс разработки общих подходов к мерам финансовой политики и регулирования, способствующих мобилизации институциональных инвестиций в проекты по борьбе с изменением климата. Существенное влияние на учет инвесторами связанных с климатом рисков и возможностей при принятии решений оказывают авторитетные международные структуры в области ответственного инвестирования, такие как PRI. Наряду с драйверами для институциональных инвестиций сохраняются и многочисленные барьеры.

The presented study focuses on the problem of increasing the participation of institutional investors in climate finance.

Aim

Aim. The study aims to identify key drivers and barriers for increasing the participation of institutional investors in climate finance.

Tasks

Tasks. The author considers the transformation of the concept of the fiduciary debt of institutional investors; examines international efforts to address climate risks and mobilize institutional investment in low-carbon projects; analyzes factors preventing wider engagement of institutional investors in climate finance.

Methods

Methods. This study used general scientific methods of cognition, such as synthesis and analysis.

Results

Results. The transformation of the concept of the fiduciary debt of institutional investors is described and its modern interpretation is provided. Factors facilitating the consideration of climate risks and increasing the role of institutional investors in climate finance are identified. The main barriers to considering climate change issues in the investment decisions made by institutional investors are identified.

Conclusions

Conclusions. Common approaches to financial policies and regulations are being actively developed at the international level to help mobilize institutional investment in climate change projects. Credible international structures in the field of responsible investment, such as PRI, have a significant influence on the way investors address climate-related risks and opportunities when making decisions. Along with the drivers for institutional investment, numerous barriers still remain.

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The authors declare that there are no conflicts of interest present.