Green Finance in the EU and Russia: Legal Frameworks and Opportunities of Digitalisation

The climate agenda has recently gained new importance as global climate change threatens all of humanity. The regulation of green finance instruments needs to be improved to attract more money to fight global warming. To ensure investor confidence in green instruments, a common standard for them must be created. The European Union and Russia are forming a legal and regulatory framework to create national standards for green bonds. A comparative legal study of the EU and Russian draft laws on green finance has demonstrated similar approaches in the creation of regulatory rules. This article describes the prospects for green finance in the context of digitalisation. Based on a study of best practices (green asset wallet, digital green bonds, etc.), it is concluded that digital solutions for sustainable finance are currently still underdeveloped. However, in the future, their use will significantly increase investor confidence in green instruments and reduce costs, including through the digitalisation of the verification process.