КЛИМАТИЧЕСКОЕ ФИНАНСИРОВАНИЕ В РАЗВИВАЮЩИХСЯ СТРАНАХ: ОПЫТ ЧИЛИ
Authors: Ершов Д.Н. 
Published: February 2025

Статья представляет вторую часть исследования о международном опыте в области повышения роли институциональных инвесторов в климатическом финансировании (См.: Вестник Поволжского государственного технологического университета. Сер.: Экономика и управление. 2020. № 4 (48). С. 26-44). На примере Чили представлено современное состояние климатического финансирования в развивающихся странах. Проанализирован процесс формирования государственной климатической политики в России и проблемы стимулирования институциональных инвесторов к более активному участию в климатическом финансировании.

Introduction. The United Nations Framework Convention on Climate Change (FCCC) recognizes the vulnerability of all states to the threat of climate change and its consequences, and calls on all states to take measures to mitigate and adapt to climate change. This is particularly relevant for developing countries that do not have sufficient financial resources to independently finance such activities. In resource mobilization, the FCCC adheres to the rule of common but differentiated responsibilities, which means that developing countries can contribute to climate protection according to their real possibilities. Resource mobilization measures are a part of government policy to combat climate change. In this case, institutional investors play a special role. They are able to make a significant contribution to combating climate change and mitigating its consequences with the amount of financial resources they have. Many countries have implemented approaches to regulate the activities of institutional investors and measures to encourage them to become more active in climate finance. Chile's experience shows that it is possible to achieve successful results in the development of regulatory mechanisms to stimulate institutional investors to participate in climate finance in a short time. The goal of the study was to analyze the history and current state of climate finance in developing countries using the example of Chile. Mechanisms for extra-budgetary funds that attracting to finance climate projects were considered. Particular attention is paid to the participation of institutional investors and mechanisms to stimulate their participation in climate finance. Analytical, historical, statistical, systemic-structural and cause-and-effect methods were used in the study. All data were taken from open information sources. Data from specialized organizations dealing with climate finance issues were taken. Results. The institutional structure and financial mechanism for climate finance in Chile were analyzed. The forms of using funds from international donors for the implementation of climate projects were considered. Sources and directions of climate finance as well as public and private initiatives in this area were described. Measures to mobilize institutional investors as well as barriers to expand their participation in climate finance were analyzed. The state and problems of climate finance in Russia were briefly considered and conclusions about possible prospects for its development were formulated. Conclusion. On the example of Chile, the approaches were demonstrated. Due to the approaches, a regulatory framework for mitigating the effects of climate change adapting to its negative consequences and preventing its further changes was created in a relatively short time. Chile has developed and continues to improve strategic documents that allow the institutional investors to form their strategy regarding participation in climate finance. Having no significant budgetary opportunities, Chile skillfully seizes opportunities and builds an ambitious climate protection strategy, and with the assistance of international assistance programs, has become one of the regional leaders in the field of climate finance and sustainable development. Chile's experience deserves to be studied in the formation of the climate policy for the Russian Federation. For today, no climate policy has been formed in Russia and it is not an organic part of the state social and economic policy, and the investment environment is not prepared to attract institutional investors to climate finance. A set of possible measures is proposed to form an investment environment favorable for institutional investors, which will be more effective if there is a clearly formulated state climate policy associated with a long-term strategy of socio-economic development.