Socially responsible investing in the development of the green economy

The priority of state policy aimed at developing a green economy is environmental restructuring and modernization of production processes. Especially significant is the introduction of environmental innovations aimed at creating new, environmentally friendly goods and technologies that protect nature, which predetermines the need for socially responsible investment. The article argues that managing the transition to a resource-friendly economy requires an integrated approach. It should be based both on administrative and legal instruments, such as legislation, regulations, control over the activities of nature users and the application of sanctions, and on economic measures, including socially responsible financing, which will create a centralized regulation of the financial and credit sphere aimed at environmentally friendly use of resources, with the principle of targeted allocation of funds for environmental purposes. The authors substantiated the need to introduce an effective system of socially responsible investment based on the financing of resource-saving activities. For these purposes, it is proposed to create environmental funds at all enterprises using natural resources, the sources of which can be socially responsible investment (SRI), based on the principles of environmental safety, social responsibility and effective management (ESG). The practical significance lies in the fact that the authors, in order to increase the activity of Kazakhstani financial organizations and attract investment in the green economy, propose the creation of a "green" Development Bank of Kazakhstan (DBK), based on the experience of the European Investment Bank (EIB), the climate bank of the European Union.