SUSTAINABILITY OF GREEN INSURANCE IN CHINA // BSU bulletin. Economy and Management. - 2023. №1. . - С. 100-108.

SUSTAINABILITY OF GREEN INSURANCE IN CHINA

DOI: 10.18101/2304-4446-2023-1-100-108 UDK: 338.23

Against the backdrop of climate change, scientists around the world are conducting research using an environmental, social and corporate governance (ESG) approach to help change global production and lifestyle patterns and embark on a green development path while leveraging the benefits of insurance. Green finance is a new phenomenon that has emerged in recent years along with economic and social development and is gradually becoming a popular object of study from all layers of society. As a significant part of the green financial sector, green insurance plays an increasingly important role in national economic and social development, especially in combating environmental pollution and climate change, ensuring a healthy state of the social economy, addressing social risks, etc. Insurance has unique benefits, as an important financial component it performs the functions of risk management, financing and credit enhancement, as well as investment promotion, which can contribute to the development of the green financial sector. Within the framework of the study we have given examples from the experience and practice of other countries, analyzed the current situation with green insurance in China.

green insurance, sustainable development, China, pollution liability insurance.