ESG became a hot topic in Russia a couple of years ago and is now undoubtedly mainstream. At least in my family, my wife, my mother, who is 82 years old, as well as my kids, at 16 and 19 years of age are all familiar with the term. However, politicians, and the general public, as well as the media are mainly concerned with the E of the acronym.
Often there is a silver lining in the worst situation, even the COVID-19 crisis. Some investments will take a hit, but others will thrive, possibly including green finance. Policymakers and investors, who had been focused on climate-change action, seemingly dropped the green ball when COVID-19 bore down on society like a massive tidal wave. But there are indications that green bonds will emerge on the sunny side of the pandemic.