Analysis of the Best World Practices in the Development of the Green Bond Market and Assessment of the Possibilities of Their Application in Modern Russia

   Relevance. The green agenda and the expansion of the market for green investment projects in the Russian economy undoubtedly have significant environmental benefits, since there are many problems with garbage disposal in our country, environmental protection from the negative impact of mining, integration of the Russian economy into the processes of redistribution of markets, related to global energy transition, etc. The idea of increasing business transparency, contributing to the reduction of the aggregate risk for the investor and facilitating the task of monitoring financial stability for the Bank of Russia also looks like a strong argument in favor of the development of green finance in Russia, even in the difficult geopolitical conditions that have developed in 2022.
   The purpose of the work is an analysis of the best world practices for the development of the green bond market and the justification of the most suitable concept for its development, taking into account changes in international cooperation of Russia in 2022.
    Objectives: analysis of best practices in the global green bond market; comparative analysis in the international context of the current green bond market in Russia; analysis of best practices in green bond issuance; selection and justification of the development concept for the Russian green bond market
   Methodology. The study used methods of analyzing and synthesizing scientific papers, methods of analyzing the structure and dynamics of data from open sources on the volumes, currency, dynamics, results and important experience of issuing green exchange-traded bonds.
   Results. The global green bond market continues to grow despite the financial and economic crises of recent years. The Chinese green bond market is growing at a faster pace to the global one and is comparable in capitalization to the American and European markets. The best Chinese practices contain a lot of green bonds useful for the development of the Russian market.
   Conclusions. It is proposed to develop the green bond market based on the proactive and leading role of the state in order to redirect export revenues to the implementation of national projects and government programs that can absorb all these volumes and will contribute to the structural transformation of the Russian economy.

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