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Exploring Sustainable Banking Practices for ESG Development in Russia

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Korotaeva, Anna and Kontakos, Panayiotis orcid iconORCID: 0000-0002-2715-3133 (2023) Exploring Sustainable Banking Practices for ESG Development in Russia. In: XXII International Scientific Conference on Bulgaria's EU Membership: 16 Years Later, 13 October 2023, University of National and World Economy, Sofia, Bulgaria.

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Official URL: https://www.researchgate.net/publication/402872795...

Abstract

This study explores the adoption of development strategies and non-financial reporting in the Russian banking sector, focusing on the emerging ESG trend. ESG is a recent and actively growing trend in Russia across all sectors. Banks are expected to play a central role in shaping Russia's ESG landscape. The research employs a qualitative approach, and comparative data is collected via performing a content analysis. Governance (parameter G) emerges as a key ESG focus on Russian banking. Russia possesses the financial infrastructure for ESG but lacks government regulation and incentives, resulting in fragmented bank adoption and a call for comprehensive legislation.


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