Voluntary Market Research Articles

Economic and environmental sustainability analysis of seaweed farming: Monetizing carbon offsets of a brown algae cultivation system in Ireland

This paper examines the economic and environmental costs of seaweed cultivation (Alaria esculenta) in Ireland and evaluates the potential revenue made on the voluntary carbon offset market (VCOM). The life cycle assessment (LCA) results revealed the cultivation equipment with the polypropylene used for the cultivation lines contributes the highest share of impacts due to their replacement rate. This study suggests long-term employment of farm infrastructure and increased seaweed yield could enhance the environmental sustainability of the system. Moreover, life cycle costing (LCC) indicates the seaweed farm in Ireland is economically feasible over a 20-year lifespan. However, the revenue generated on the VCOM from the seaweed carbon assimilation was minimal, contributing to only 5% of the revenue. This study concludes that further development of the seaweed market with stabilized biomass prices and producing a range of viable products from seaweed biomass will be a major factor in the economic sustainability.

Expressing carbon storage in economic terms: The case of the upper Omo Gibe Basin in Ethiopia

Terrestrial carbon storage is important for planning decisions regarding climate change. Therefore, modelling the spatial distribution of carbon storage and valuation can help restore the sustainability of the ecosystems. This study aimed at showing the spatial and temporal variations in carbon storage and valuation in the upper Omo Gibe Basin. Land use/cover and carbon pool data based on field data collection and laboratory analyses supported by GIS and remote sensing were used. The Integrated Valuation of Ecosystem Services and Tradeoffs (InVEST) software was used for modelling carbon storage. The Global voluntary carbon market price and Tropical Economics of Ecosystems and Biodiversity (TEEB) data were used for describing carbon storage in economic terms. ANOVA was carried out to detect significant differences in carbon stock correlation with parameters. The results show that the annual carbon stock declined by 0.37 t/ha and the carbon market declined from USD 25.04 billion in 1988 to USD 24.01 billion in 2018. The highest loss of carbon storage and valuation was found in forest land followed by grazing land. Moreover, carbon stock was positively correlated with NDVI and habitat quality (p < 0.05). Slopes did not affect carbon stock (p > 0.05). This study helps promote and enhance carbon trading.

Unfinished Paths—From Blockchain to Sustainability in Supply Chains

Blockchain technology has been promised as a solution to social and environmental issues in supply chains. The potential includes reduction of vulnerable party exploitation and avoiding environmentally harmful practices. Yet, it remains unclear how these potential improvements are created and whether blockchain can truly contribute. Therefore, this field study explores and identifies the mechanisms for blockchain technology to facilitate positive social and environmental impacts in supply chains. We applied an explorative qualitative research approach and interviewed blockchain technology implementers and practitioners that allowed a detailed analysis of this problem despite the scarcity of practice data. The results include the development of a middle-range theory that shows barriers and drivers of blockchain-based technologies in supply chains, introduces the concept of blockchain-enabled system, and outlines expected outcomes and impacts. We further identify four impact pathways that describe how blockchain-enabled system create positive impact: (voluntary) market mechanisms, plausibility checks, smart contracts and tokenisation, and peer-to-peer trust. The study contributes by providing insights into “how” blockchain-based technologies in supply chains can lead to social and environmental impacts. The study also furthers the discussion on blockchain technology’s role in supply chain implementation and addresses the yet unresolved problem of measuring the impact of such blockchain-enabled systems.

Economic assessment of the carbon sequestration potential of plantation forests

The goals set by Russia for the implementation of the Paris Agreement on Climate Change Mitigation, taking into account the absorptive capacity of forests, have become an additional incentive for the creation of carbon-saving forest plantations, while the formation of a voluntary carbon market has made it possible to receive income from the sale of carbon from such climate forest projects. However, in the absence of experience in the implementation of such projects in Russia and the long-term return on investment in them, associated with the specifics of forestry and the existing risks of obtaining the final result, it has become an unattractive activity. This problem can be solved by creating carbon-depositing forest plantations using fast-growing seedlings of planting material obtained by innovative biotechnological methods. The study determined the costs of creating 1 hectare of carbon-depositing forest plantations, forecasting the possible additional income from 1 hectare per year from forest plantations for the implementation of net primary production. It is concluded that even with conservative net primary production and low carbon prices, the use of planting material obtained by in vitro clonal micropropagation when creating carbon-depositing forest plantations will reduce the payback period of climate forestry projects to 5 years.

AN OVERVIEW OF VOLUNTARY PRIVATE PENSION FUNDS IN TURKEY

We provide an overview of the voluntary pension fund market in Turkey by starting with recent developments in the global pension markets and then focusing on the pension fund reform in Turkey and the following developments since 2003. Findings from the literature indicate that the reforms on the introduction of voluntary pension funds in Turkey have positive implications for the overall national savings rates and capital market development. Voluntary pension funds create extra income for beneficiaries after their retirement. However, redesigning the system in a simplified structure is necessary in order to increase participation, inclusion and also to ensure persistency.

Floristic structure and ecological role of Rourea afzelii stand in three savannah ecosystems from Cameroon

The present study investigated the floristic structure and ecological role of Rourea afzelii stands insavannah, forest galleries and swampy areas to Cameroon. An 80 m x 50 m transect method wasundertaken to measure floristic diversity using Shannon index, Pielou equitability, Simpson’s indexand the importance value index. The structure of Rourea afzelii stands is determined by density,basal area and biovolume. The results of this study show that Rourea afzelii stands are morediversified in savannah with a Shannon diversity index (ISH =4 ± 0.03bit). The highest log stabilityof Rourea afzelii stands is observed in the savannah (EQ=0.75 ± 0.008). The Simpson index of theRourea afzelii stands is larger in the forest gallery (D=0.088 ± 0.0022). Rourea afzelii Stands aredenser in savannah (113 ± 2.54 individuals/ha). The basal area and biovolume of Rourea afzeliistands are very high in swamp area (St=15.75 ± 0.02 m2/ha, Biov=9.08 ± 0.12 m3/ha). The diametricstructure has an asymmetrical “L” shaped appearance, indicating a strong regeneration of Roureaafzelii Stands in the three sites studied. Rourea afzelii Stands in forest galleries sequestered morecarbon (26.41 ± 0.0015 ton C/ha) than those in savannahs and swampy areas. This valuecorresponds to sequestration of carbon dioxide of 96.92 ± 0.82 ton CO2/ha. Economically, thiscorresponds to the CDM carbon price (290.77± 3.332 Euros/ha), a Voluntary Market Carbon Priceof 455.54 ± 1.908 Euros/ha, a REDD + carbon price of 9692 ± 8.152 Euros/ha. In conclusion, theresults of this study can be used in the context of protection and conservation as well as thedomestication of such a species.

Caught in between: credibility and feasibility of the voluntary carbon market post-2020

ABSTRACT On the one hand, a large number of companies have committed to achieve net zero emissions and many of them foresee to offset some remaining emissions with carbon credits, suggesting a surge of future demand. Yet, the supply side of the voluntary carbon market is struggling to align its business model with the new legal architecture of the Paris Agreement. This article juxtaposes these two perspectives. It provides an overview of the plans of 482 major companies with some form of neutrality/net zero pledge and traces the struggle on the supply side of the voluntary carbon market to come up with a viable business model that ensures environmental integrity and contributes to achieving the objectives of the Paris Agreement. Our analysis finds that if carbon credits are used to offset remaining emissions against neutrality objectives, these credits need to be accounted against the host countries’ Nationally Determined Contributions (NDCs) to ensure environmental integrity. Yet, operationalizing this approach is challenging and will require innovative solutions and political support. Key policy insights There is a growing mismatch between the faith placed in carbon credits by private sector companies and the continued quest for a common position of the main suppliers of the voluntary carbon market. The voluntary carbon market has not yet found a way to align itself with the new legal architecture of the Paris Agreement in a credible and legitimate way. Public policy support at the national and international level will be needed to operationalize a robust approach for the market’s future activities.

The interplay between renewable portfolio standards and voluntary green power markets in the United States

Utility voluntary green power programs that allow energy consumers to pay a premium for electricity generated from renewable energy sources have gained great momentum worldwide in recent years. While there is growing literature examining customer behaviors related to green power purchases, limited work has been done to systematically evaluate the efficacy of voluntary green power programs implemented in conjunction with government-led renewable energy policies. In this research, we construct an innovative panel dataset for 49 U.S. states and Washington, D.C. from 2001 to 2013, with the goal to understand factors influencing total sales and customers of voluntary green power programs. Hybrid random effects regression models are estimated to investigate the impact of state renewable portfolio standards (RPSs) on the performance of voluntary green power markets. We find that for a given state, an increase in RPS policy stringency by one unit would lead to a reduction of green power program customer enrollment by 12.37%, and a reduction in green power program sales by 12.98%. Our results suggest that the competing effect is dominant between the voluntary green power market and the renewable energy regulatory regime: state RPSs tend to crowd out cheap renewable-sourced electricity that is available for sale through utility green power programs.

Barriers and opportunities facing the UK Peatland Code: A case-study of blended green finance

Blended finance offers a way of increasing total expenditure on tackling the twin climate and biodiversity global emergencies. However, this requires effective methods for combining private and public funding. As an example of the barriers and opportunities facing practical implementation of a blended finance approach, this Viewpoint paper presents a case-study of the UK Peatland Code which will have relevance to other instances of blended finance initiatives elsewhere. Restoration of degraded peatlands reduces their carbon emissions and can provide emission reductions and other environmental gains in a socially cost-effective manner. However, many benefits are public goods arising as externalities which are difficult to convert into financial returns to private investors. To address this problem, the Peatland Code has been developed as a voluntary certification standard for UK peatland projects wishing to seek additional private funding via the voluntary carbon market. However, uptake of the Peatland Code has been slow. Despite growing demand in the voluntary carbon market, we observe six main barriers to supply-side uptake: lack of awareness amongst land managers; resistance to land use change, particularly when measures are seen to potentially compromise agricultural production; high upfront capital costs; limited equipment and skills; uncertainty over ongoing costs and support; and, administrative bureaucracy/inflexibility. We offer recommendations for how such barriers could be reduced to increase supply-side uptake, including: increased effort to promote sustainable land management and blended financing of it, and restoration activities and the Peatland Code in particular; continued public funding of upfront capital investments, with private funding directed more at ongoing payments; and, simplified and more flexible administrative arrangements, with public and private schemes designed in tandem to improve their practical complementarity.

Frictitious commodities: Virtuality, virtue and value in the carbon economy of repair

What ‘nature’ is being commodified in carbon markets, and why does it matter? How are carbon commodities and ecologies of repair co-produced through carbon forestry? Are the Polanyian notions of ‘fictitious commodification’ and ‘embeddedness’ appropriate for thinking about carbon forestry and voluntary carbon market (VCM) offsets? This article addresses these questions and extends the critical understanding of conservation in the ‘repair mode’ through an analysis that delves deeply into the black box of value production in the VCM. Focusing on the interplay of ‘virtuality’ and ‘virtue’ in the production of one variety of so-called ‘boutique’ blue forest carbon offset, this analysis demonstrates the technical abstractions needed isolate ‘carbon’ and force it into the commodity form create slippages between concrete socio-natures and geographies of offsetting and the imagined natures and geographies of a market environmentalist model of the world. This politics facilitates a dual pathway of accumulation via the material extraction of nature to feed the expansion of industrial growth (the subject of Polanyi’s critique) and, in parallel, through feeding new growth markets for nature-based commodities such as the VCM. These markets promise to repair the damage caused by industrial growth, but can only ‘work’ in the abstract, virtual realm despite entanglement with underlying concrete ecologies of repair. Based on this analysis, this article argues that the widespread view of carbon offsets as ‘embedded’ Polanyian fictitious commodities is incomplete, based on an ontological fallacy that conflates the ways in which concrete and abstracted, virtual ‘natures’ are used to produce value in the contemporary restoration economy. This fallacy implicitly reifies the central fictions and contradictions of carbon markets and the market environmentalist model more broadly. Considering VCM carbon forestry in terms of ‘scale-making’ and ‘world-making’ projects, the article presents an alternative conceptualisation of VCM carbon offsets as intangible ‘frictitious’ commodities that inhabit a complicated and only provisionally stabilised commodity form.

Добровільне медичне страхування в Україні: стан та перспективи розвитку

Aim. The paper analyzes the state of the voluntary medical insurance in Ukraine and identifies the tendencies of its development. Material and Methods. The research was conducted on the basis of consolidated reporting data of the National Commission for State Regulation of Financial Services Markets using statistical methods, structural-logical analysis and systematic approach. Results and Discussion. According to the results of the study, the permanent health insurance is a dominant segment in the market of voluntary medical insurance in Ukraine; however the medical expenses insurance shows a steady upward trend. During the study period, the number of concluded contracts by type of medical insurance increased by 3.1 times. The increase in contracts on health insurance against disease turned out to be the most significant: in 2019, 4.7 times more contracts were concluded than in 2015. The dominance of corporate medical insurance in the segment of the market of permanent health insurance was established, while the insurance premiums made by individuals prevailed in the segment of health insurance against disease and medical expenses insurance. When studying the level of payments under voluntary medical insurance contracts, it was found that the highest level of payments had been recorded for permanent health insurance (56.95% - 62.12%). In the result of analyzing the level of reinsurance in the voluntary medical insurance market, a reduction in the ratio of insurance premiums transferred to non-resident reinsurers was established. On the basis of which it can be affirmed that the inwards reinsurance in Ukraine is being formed. The formation of the inwards reinsurance market in Ukraine has significant prospects, as it will ensure the attraction of funds into the national economy and promote integration into the international reinsurance space. Conclusions. The development tendencies study of the voluntary medical insurance is of practical importance for assessing and increasing the competitiveness of the medical insurance market in Ukraine

REDD+ and leakage: debunking myths and promoting integrated solutions

ABSTRACT A corporate appetite for greenhouse gas reduction from nature-based solutions, in general, and REDD+, in particular, is driving a rapidly growing voluntary carbon market. The interest to invest in solutions that avoid or reduce deforestation holds the potential to significantly support national efforts to achieve the Paris Agreement’s temperature goals. However, controversy over leakage coupled with confusion and insufficient understanding of spill-over and displacement effects risk holding back necessary investments. This article seeks to shed light on different concepts surrounding leakage, including underlying dynamics and possible solutions on how to address them. In doing so, it makes the case for integrating avoided deforestation projects into national REDD+ strategies and highlights the need for a multi-level and multi-actor approach towards REDD+. Leakage occurs at all levels of implementation of REDD+ activities, at the project, programme and policy level, and both within and beyond national boundaries. Local leakage can largely be controlled through project design that analyses and addresses the proximate causes of leakage and underlying drivers, however, leakage is more difficult to avoid at the programme or policy level. Market leakage is particularly complex and harder to manage, but can – to a certain extent – be modelled and accounted for. Successful REDD+ efforts will combine demand-side measures with national or jurisdictional programmes that support governance reforms and integrate local investments in nature-based solutions and avoided deforestation projects. Key policy insights Emissions leakage is a ubiquitous phenomenon in climate mitigation that occurs at all levels of implementation. However, it is of particular concern in the case of REDD+, where reduced deforestation in one geographical area can lead to an increase in forest loss in another area. Leakage has to be managed and monitored at different scales: locally through avoided deforestation projects that address local drivers of deforestation; nationally through well-designed REDD+ policies; and internationally, among others, through demand-side standards in countries importing forest-risk commodities. Larger-scale programmes that link government interventions with efforts to eliminate deforestation from commodity supply chains, conservation efforts and avoided deforestation projects can limit leakage while helping to integrate various conservation and financing strategies. ‘Nesting’ of avoided deforestation projects into larger REDD+ programmes, at sub-national or national scale, allows for the integration of greenhouse gas accounting across different scales of implementation.

A question of standards: Adapting carbon and other PES markets to work for community seagrass conservation

Seagrass meadows deliver multiple ecosystem services that are of particular importance to resource-poor coastal communities, yet they are rapidly declining globally. The Payments for Ecosystem Services (PES) approach has been used to fund the protection of other ‘Blue Carbon’ Ecosystems (BCE), yet seagrass has been incorporated in just one PES project worldwide. Some of the ecosystem services delivered by seagrass have the potential for inclusion under a PES framework but multiple challenges currently make this difficult, particularly under community-based management. PES programmes typically focus on carbon as the tradable service, but scientific uncertainties regarding seagrass carbon are likely to remain significant barriers to using carbon as the sole commodity under current carbon trading standards and market conditions. It is recommended here that project developers demonstrate the multiple ecosystem services delivered by seagrass meadows, along with their importance to coastal communities, in the planning and marketing of seagrass PES projects. Moreover, they should consider approaches that incorporate seagrass meadows into other blue carbon certified projects. The capacities of the communities that rely most heavily on seagrass are generally very limited. Consequently, demanding high levels of scientific certainty over carbon stocks and flows will exclude most of these communities. Standards, buyers and policy makers should consider building community capacity in the technical and marketing requirements of voluntary carbon standards. The voluntary carbon market has the flexibility to pioneer certified seagrass carbon, potentially leading to the inclusion of seagrass carbon in formal policy instruments, such as Nationally Determined Contributions (NDCs).

New Localism in the Neoliberal Era: Local District Response to Voluntary Open-School Markets in Ohio

Local education governance has allowed neighborhood schools to offer community-oriented curricula and activities, and public schools have been operated to serve only residents’ children within the defined areas. The rise of neoliberalism may, however, undermine political foundations of the traditional political systems. This article explores how self-governed local education authorities function and evolve under neoliberalism by revisiting core values in localism and neoliberalism. By looking into the voluntary open-enrollment policy in Ohio, this study finds that the local governments surrounded by dissimilar neighborhoods are more likely to depend on the mechanism of localism to protect local authorities and locational privileges. This research argues that neoliberal policies safeguard community interests by deeply engaging with interchanging resources across their borders in regional market environments.

The distribution and regional determinants of nationally financed emissions-reduction projects in China

As the Clean Development Mechanism (CDM) has experienced a decline in investments, major host countries in this mechanism have met with a surplus capacity in the production of carbon offset credits. One of these countries is China, which has turned its focus to its own emission trading institutions, such as the ‘China Certified Emission Reduction’ (CCER) scheme, a domestic carbon offsetting mechanism. In this study, we analyse this mechanism by identifying the regional determinants of the emissions-reduction projects. We examine the distribution of 2789 projects of China Certified Emission Reduction scheme and use regional economic attributes to predict the number of projects in 30 Chinese Provinces. Results from a panel data analysis indicate that these projects are more likely to be implemented in locations where per capita GDP is lower, CO2 emissions is higher, energy intensity is higher, and the amount of domestic loan is larger. This voluntary carbon market in China continues to demonstrate economic sensitivity in project implementation as it moves towards a new governing system in the post-CDM context. These findings could provide insights into the prospects for market-driven emission reduction initiatives in China and facilitate their mitigation actions.

Ržište privatnog zdravstvenog osiguranja u debatama o reformi zdravstvenog sistema u postsocijalističkim zemljama

Debates on the reform of health care fi nancing in the former socialist countries during the period of social transformation were conducted as part of a wider debate regarding changes in the overall social system. Existing financing models and innovative measures were reviewed. As part of such discussions, the voluntary health insurance market also received a lot of the attention. Diff erent views were expressed in the debates that were conducted during the 1990s, from seeing a suitable supplementary source of health care funding to those who highlighted the constraints in its implementation and modest results that can be expected. As one of the criteria for assessing the suitability of this mechanism, we could review what has been achieved so far in its application. Th e paper looks at the ground covered and the situation in the former socialist countries at the end of the second decade of this century, with particular reference to Serbia and countries in its surroundings. When it comes to Serbia it can be expected that the limiting factors from the last ten years will be still manifested in the future. It is estimated that there are weak prospects of activating voluntary health insurance as a way to alleviate the problems of insuffi cient fi nancing of the health care system.

REDD+ and forest protection on indigenous lands in the Amazon

AbstractReducing emissions from deforestation and forest degradation (REDD+) was introduced by the United Nations Framework Convention on Climate Change (UNFCCC) as a mechanism to reverse the loss of forests and carbon stocks in developing countries. REDD+ operates on the basis of performance‐based payments. This article focuses on REDD+ as a market‐based mechanism in the voluntary carbon market (VCM). It assesses the viability of using REDD+ on indigenous lands in the Brazilian Amazon by examining three key aspects of REDD+—the legal, technical and market requirements—in light of recent policy developments in Brazil and under the UNFCCC. REDD+ as a market‐based mechanism in the VCM currently faces significant barriers as a useful tool for forest protection in the Amazon, due to the lack of an international carbon market under the UNFCCC, the highly complex technical requirements, and the low market demand for REDD+ credits in the VCM. Moreover, we suggest that, although legally possible under Brazilian law, REDD+ projects in the VCM may not be a suitable market‐based option for indigenous communities in the Amazon due to the current national and international climate policy context.

Development of the voluntary health insurance market in Ukraine

This paper is aimed to study the development trends of the domestic voluntary health insurance market. The authors analyzed the current state of the domestic voluntary health insurance market by its types. In the study framework, the main tendencies were determined, while the relative ratios of voluntary health insurance market functioning were calculated. Health insurance has a great potential to be a promising source of additional funding for medicine in Ukraine. However, the systematization of scientific sources indicated that unresolved issues of further development of health insurance and the search for effective external funding sources for medicine in Ukraine, one of which may be the market of voluntary health insurance. This research’s urgency consists of insufficient healthcare budgetary funding and low healthcare quality, provoking external funding sources’ growth in national healthcare facilities such as voluntary health insurance. The study of the features of the voluntary health insurance market development was carried out in the following logical sequence: determining the relevance of the research topic; investigating the scientific background on the research topic; establishing the methodological basis; analyzing the indicators of voluntary medical insurance market development; considering the structure of health funding sources in Ukraine and some countries of Eastern Europe. The authors determined a need to develop voluntary health insurance in Ukraine as an external health funding source based on the findings. The conclusions and recommendations were formed. The study involved the methods of deduction and induction, analogy and comparative analysis, graphical method, method of statistical comparison. The research object is the voluntary health insurance market in Ukraine. The research period is 2012-2020. The obtained results indicated that the voluntary health insurance market is undoubtedly an essential component of the Ukrainian insurance market. The authors noted that it is an effective additional way for actual funding the social needs in medicine. Therefore, it calls for further in-depth study and more attention from the population. The results of this study could be helpful for scientists, health and insurance professionals.

Current state of voluntary medical insurance in Ukraine

The current state of voluntary health insurance in Ukraine is analyzed in this paper. The place of voluntary medical insurance in the insurance market of Ukraine is determined. The essence, purpose, objectives, features, advantages and disadvantages of voluntary health insurance as one of the funding sources for medical sector are considered as well. The programs under which voluntary health insurance is currently implemented are listed, these are mainly personal and corporate ones. The main tendencies are investigated, relative indicators of the functioning level of voluntary health insurance market are calculated. The problems of voluntary health insurance are identified and measures for such insurance development in Ukraine are proposed. Our investigation is devoted, particularly, to the identification of the main problems in the development of voluntary health insurance in Ukraine. The authors investigated the availability of voluntary health insurance for population, analyzed the state of industry reforming in a certain period and substantiated the consequences of the reform impact on the voluntary health insurance market in Ukraine. The dynamics of the health insurance market indicators is analyzed on the basis of the size of gross insurance premiums and payments, as well as the calculated indicator - the insurance payments coefficient. In particular, insurance payments for voluntary health insurance in the regional context, by regions in individual insurance companies for a certain period of time are analyzed. The method of compiling the rating of insurers on the basis of insurance premiums and payments is proposed. It is determined that the level of medical services is growing, as well as the trust in voluntary health insurance in Ukraine. The main problems of the voluntary health insurance system functioning are highlighted and recommendations for improving the quality and availability of health insurance in Ukraine are proposed. These recommendations take into account a set of economic, legal and social factors of the insurance market development. Measures for state authorized bodies and private insurance companies that provide the extension of voluntary health insurance in Ukraine are proposed.

Development of regional market of corporate voluntary health insurance: The case of St. Petersburg

The paper discusses a pilot study aimed to identify the factors of development of the regional market for corporate voluntary health insurance in St. Petersburg during the period from 2015 to 2018. Based on the review of scientific works of Russian and foreign authors as well as the analysis of international experience, the key factors influencing the functioning of the corporate voluntary health insurance market are identified including the economic development of the region, demographic situation, changes in the labor market, accessibility of medical care, and personal characteristics of the insured. The results of quantitative modeling showed that the development of the corporate voluntary health insurance market in St. Petersburg is influenced by the factors related to the economic well-being of the region and the state of labor market. Such factors as the average per capita income of the population, the unemployment rate as well as the index of prices and tariffs for paid medical services turned out to be significant. In addition, a qualitative analysis of the demand for corporate voluntary health insurance was carried out. The analysis of a structured survey Russian and international companies managers proved the following assumptions: voluntary health insurance policies are more often offered to employees of large and medium-sized organizations operating mainly in Moscow and the Moscow region compared to companies whose main number of employees work in St. Petersburg and the Leningrad Region; international companies are more likely to provide voluntary health insurance policies to their employees than Russian ones. The study offers practical recommendations to stakeholders — the authorities, insurers and employers.