Development and Functioning of Green Insurance in the Context of Sustainable Development

Abstract

Relevance. Ensuring sustainable development is one of the priority and urgent issues of our time, because in modern socio-economic and geopolitical conditions, economic entities cannot formulate and approve long-term development strategies: the introduction and application of digital and production technologies, the development of information systems, e-commerce platforms lead to a rapid change in the conditions of economic, production and economic activity. In this aspect, the issues of assessing the risks of sustainable development, including climatic and environmental ones, in which absolutely all participants of the economy are involved, also remain relevant. The purpose of the study is to identify current trends in the development and functioning of green insurance in the aspect of ensuring sustainable development. Objectives: to define the goals, objectives and principles of insurance in the context of ensuring sustainable development, to highlight the aspects and components of sustainable development, the place and role of green insurance in achieving the goals of the financial component of sustainable development, to identify constraints to the development of green insurance in the Russian Federation. Methodology. In the course of the research, general scientific methods were used: scientific abstraction, analysis and synthesis, generalization of scientific practice, deduction, induction. Results. The conducted research made it possible to form and highlight the following scientific results: to determine the prerequisites and identify the importance of green insurance in the aspect of ensuring sustainable development;to highlight the aspects and components of sustainable development; to identify the constraining factors of the development of green insurance in the Russian Federation. Conclusions. Green insurance is one of the most important components of the financial component of ensuring sustainable development. Today we are witnessing only the formation of the sphere of green insurance, since the necessary principles and conditions are being introduced into the activities of economic entities. To scale this industry, it is necessary to change people's worldview, attitude to the environment, awareness of the importance of caring for the environment and everyone's responsibility for the ecological footprint they leave, the consequences of making a decision by each of us.