Initiative of the financial sector in the implementation of social responsibility practices and sustainable development

• Main Author: T N Savina
• Format: Article
• Language: English
• Published: Peoples’ Friendship University of Russia (RUDN University) 2014-12-01
• Series: RUDN Journal of Economics
• Subjects: социальная ответственность; устойчивое развитие; финансовые институты; ответственное финансирование; принципы Экватора
• Online Access: http://journals.rudn.ru/economics/article/view/11930

Recently more attention has been drawn to problems of social responsibility of business, its role in the socio-economic development. Indeed, can often be seen as a modern company (not depending on the direction and scope), in order to avoid potential threats set strategic goals and interests and competitiveness forced to maintain its image, to work on improving the business reputation, build our work basing on the principles of social responsibility. The purpose of this study is to determine the initiatives of financial institutions in promoting ideas and practices in the area of social responsibility and sustainable development. The author proposes to solve the following main tasks: to determine the contribution of the financial sector in the implementation of social programs; to study the practice of responsible Finance; to identify the reasons hindering the development of project financing in Russia. The research is aimed at revealing ideas and initiatives of the financial sector in the practice of social responsibility and sustainable development. The article is carried out using tools of systems analysis.