Towards to the first green federal budget of Russia: Basis and elaboration

Abstract

The global economic challenges of our time are reflected in the concept of environmental, social, and governance (ESG). Traditionally, these issues were developed at the corporate level for enterprises and banks, while the state level was little touched upon. About half of the world’s national income is redistributed through the system of state budgets of all countries. In this regard, the formation of green budgets becomes inevitable. Rationale for the creation of a green budget and elements of its development have become the subject of analysis in this article. OECD recommendations, best practices of green budgeting, primarily in France, as well as green prerequisites for creating a domestic federal budget prove the possibility of solving the problem of sustainable economic growth and implementing the Paris Climate Agreements.