Towards Sustainable Finance Through Environmental and Social Responsibility of Business

Sustainable finance based on a green agenda and focused on projects in the field of ecology and social aspects of development cannot yet find application due to the difficult geopolitical situation in Russia. Corporate environmental responsibility of business appeared along with corporate social responsibility (CSR) and was the basis for the emergence of such an element as environmental, social, and corporate governance (ESG). ESG is more than ecology. ESG is a new business philosophy in Russia. ESG ratings also enable investors to identify an object for investing their money. ESG is distinct from but correlates with sustainability. In this research, we focused on several painful points that the real sector of the Russian economy needs to overcome in today’s conditions, which will last from three to ten years. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.