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Managing the Development of Regional Industrial Potential: Integrating Climate Finance into Investment Strategies

Author

Listed:
  • Irina P. Dovbiy

    (South Ural State University (National Research University), Chelyabinsk, Russian Federation)

  • Zhanna A. Mingaleva

    (Perm National Research Polytechnic University, Perm, Russian Federation)

  • Evgeniy E. Zhulanov

    (Perm National Research Polytechnic University, Perm, Russian Federation)

Abstract

The requirements for the implementation of climate policy are becoming increasingly important in the processes of formation of global and local value chains and directly affect the development of export potential of both individual economic entities and regions. The purpose of the study is to develop recommendations for improving the tools for managing the development of industrial potential of regional systems under the current conditions of financing the climate agenda in the amount of the country’s commitments. The article analyzes the investment and financial conditions and factors determining the region’s export potential in the context of the implementation of two strategies of the climate agenda — mitigation and adaptation to climate change. A comparative analysis was carried out for the regions located along the middle and lower reaches of the Volga River. The analysis included the following meso- and micro-level areas: investment climate characteristics; conditions for financing of economic entities; investment and innovation activity of the regions and commitment to ESG principles of business entities and regional authorities; quality and elaboration of regional investment standards and climate change adaptation plans, etc. The analysis has shown the impact of the climate agenda, implemented in climate change mitigation and adaptation strategies, on the export potential of the Russian regions under study. It is concluded that the regions are not sufficiently prepared for the growing challenges of the climate agenda and the financial system is poorly developed in relation to the climate agenda. It is shown that a clear identification and understanding of the factors and conditions contributing to the inclusion of national economic entities in value chains can help government agencies and economic entities make effective decisions on the implementation of measures to ensure the formation of favorable investment and financial conditions for managing the development of the region’s industrial potential.

Suggested Citation

  • Irina P. Dovbiy & Zhanna A. Mingaleva & Evgeniy E. Zhulanov, 2024. "Managing the Development of Regional Industrial Potential: Integrating Climate Finance into Investment Strategies," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 97-115, December.
    • Handle: RePEc:fru:finjrn:240606:p:97-115
    DOI: 10.31107/2075-1990-2024-6-97-115
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    References listed on IDEAS

    as
    1. Zhanna A. Mingaleva & Maria V. Sigova, 2022. "Financial Aspects of the Implementation of the Fourth Energy Transition," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 43-58, October.
    2. Guo, Mengmeng & Kuai, Yicheng & Liu, Xiaoyan, 2020. "Stock market response to environmental policies: Evidence from heavily polluting firms in China," Economic Modelling, Elsevier, vol. 86(C), pages 306-316.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    climate agenda; industrial potential; investment and financial instruments; regions; development management; The CSDDD Directive;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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