Modern Financial Markets and Sustainable Finance Instruments
Authors
Medea Zurabishvili
Share
Annotation
This paper examines the transformative impact of Environmental, Social, and Governance (ESG) criteria on modern financial markets. It analyzes key sustainable finance instruments, specifically focusing on green bonds, green loans, and sustainability-linked mechanisms, to determine their effectiveness in allocating capital toward environmental activities. In addition, the study assesses the strategic readiness and regulatory framework of the Georgian financial sector in alignment with the global sustainable development agenda. The findings provide insights into the challenges and opportunities for integrating sustainable finance practices within the context of emerging market economies.
Keywords
Authors
Medea Zurabishvili
Share
References:
(2024) Sustainability-Linked Bond Principles. ICMA - International Capital Market Association. Retrieved from www.icmagroup.org/assets/documents/Sustainable-finance/2024-updates/Sustainability-Linked-Bond-Principles-June-2024.pdf
EBRD invests in Georgia Global Utilities green Eurobond. (2024, Jul). Retrieved from https://www.ebrd.com/home/news-and-events/news/2024/ebrd-invests-in-georgia-global-utilities-green-eurobond.html
Erekle Pirveli, P. T. (2022, April). ESG Indicators of Sustainability Reporting in Emerging Georgia: Application Levels, Determinants and the Impact. Retrieved from https://www.dpublication.com/wp-content/uploads/2022/04/26-16037.pdf
(2025). EU taxonomy for sustainable activities. What the EU is doing and why. European Commission. Retrieved from https://finance.ec.europa.eu/sustainable-finance/tools-and-standards/eu-taxonomy-sustainable-activities_en
(2025). Green Bond Principles. ICMA - International Capital Market Association. Retrieved from https://www.icmagroup.org/assets/documents/Sustainable-finance/2025-updates/Green-Bond-Principles-GBP-June-2025.pdf
(2025). Green Loan Principles. Loan Maket Association. Retrieved from https://www.lma.eu.com/application/files/1917/4298/0817/Green_Loan_Principles_-_26_March_2025.pdf
(2025). Labeled-Bond-Quarterly-Newsletter-Issue-No-11. World Bank. Retrieved from https://thedocs.worldbank.org/en/doc
Mzevinar Nozadze, G. B. (2025). BUSINESS SOCIAL RESPONSIBILITY AND “GREEN INNOVATIONS” – CAUSE-AND-EFFECT RELATIONSHIP. International Journal of Innovative Technologies in Social Science(1(45)), 1-5. doi:https://doi.org/10.31435/ijitss.1(45).2025.3261
Mzevinar Nozadze, L. V. (2025). THE IMPACT OF GREEN FINANCE ON BUSINESS SUSTAINABILITY. European Science Review(11–12). doi:DOI:10.29013/ESR-25-11.12-33-36
Mzevinar Nozadze, T. B. (2024). Social Responsibility of Business (In Case of Foreign and Georgian Experience. International Journal of Social Sciences, 4(2), 126-138. doi:https://doi. org/10.55367/HAET4006
Rusudan Kutateladze, M. N. (2025). GREEN FINANCING AND ITS INSTRUMENTS: FOREIGN AND GEORGIAN EXPERIENCE. The European Journal of Humanities and Social Sciences(1), 58-61. doi:DOI:10.29013/EJHSS-25-1-58-61
(2025). Sustainable Bonds Trends and Policy Recommendations. OECD Publishing. Retrieved from https://www.oecd.org/content/dam/oecd/en/publications/reports/2025/11/sustainable-bonds_70ea7450/26726c68-en.pdf
(2022). Sustainable Finance Taxonomy for Georgia (2022). Tbilisi: National Bank of Georgia. Retrieved from https://nbg.gov.ge
Other articles of the issue
