Sustainable Finance: Global Contours and Architecture (in Russian)
Despite a major expansion in regulatory geography, the international market remains deeply asymmetrical, with over 85% of instruments concentrated in just three macro-regions. The primary barriers to scaling up capital continue to be the high fragmentation of sovereign practices and the ongoing challenge of balancing universal standards with the national specificities of individual economies.
The brief prepared by the ICLRC offers a structured overview of the concept and architecture of sustainable finance. Authors Inga Kononovich and Daria Gribanova analyze the current structure of sustainable finance instruments. Special attention is dedicated to a comparative analysis of national regulatory models, ranging from the stringent compliance frameworks of developed countries to the flexible adaptation and transition mechanisms adopted by major emerging economies.
The review is prepared with the participation of Alexandra Khlebnova. The authors express gratitude to Evgeniy Khilinskiy for his comments on this material and for the substantive discussion.
OTHER PUBLICATONS
.jpg)
Professional interests: Education Professional experience In the same year, she joined the Youth Expert Group and contributed to the BRICS Youth Energy Outlook 2025 as an expert on energy transition financing and access to critically important minerals for the energy transition. On 19 November 2025, presented the group’s report at a side event hosted by the Northern Forum, an international organisation of northern regions, at COP30 in Brazil. Prior to joining the ICLRC, she was responsible for monitoring and managing assets of mutual investment funds: at Tinkoff Capital LLC (2022–2023) and at Rosbank PJSC (2019–2021). Inga coordinates the analysis and preparation of projects in the direction of green economy, climate regulation, and implementation of ESG principles. She participates in various Center's events.
In 2024, she defended her Ph.D. thesis on “The Formation of the Green Economy in Emerging Markets”.
