Green Budgeting Tools and Practice

Abstract

Russia is following the course of implementation of the Sustainable Development Goals and shaping its climate strategy. In March 2023, Russia approved the National Action Plan for the second phase of adaptation to climate change for the period until 2025. The public budget is the main tool for achieving the political goals of the government, therefore, in order to implement the public policy in the field of environmental protection and counteraction to climate change, green budgeting is being introduced. The purpose of this article is to actualize the ideas of green budgeting, systematize such budgeting tools within the framework of the general concept of green budgeting, taking into account foreign experience of their use. The author uses general scientific methods, in particular methods of analysis and synthesis of relevant scientific literature, legal information and publications of international organizations. The following conclusions are made: The public budget system is able to minimize those economic activities that are adverse for the environment by creating the possibility of tracking, analysis, evaluation and adjustment of budget expenditures using the tools of green budgeting. The latter does not require restructuring of the public finance management system; the prerequisite for its practical use is the presence of environmental care among the state national goals.

Keywords

• green budget
• green budgeting
• green public finance management
• climate budgeting
• green budget tagging
• environmental impact assessment
• audit of green expenditures