Financial mechanisms for implementing green projects in the mining industry
Yuriy A. Krupnov1, Yulia B. Nadtochiy1, Natalia N. Shchepkina1, B. Askarbekov2
1 Financial University under the Government of the Russian Federation, Moscow, Russian Federation
2 Kyrgyz Economic University named after M. Ryskulbekov, Bishkek, Kyrgyzstan
Mining Industry Journal (Gornaya Promyshlennost) №5/ 2026 p. 59-66
Summary: This study examines financial mechanisms for implementing green projects in the mining industry as a tool for environmentally responsible modernization, improvement of the energy efficiency and reduction of environmental risks. It is justified that high resource and energy intensity, waste generation, land disturbance, water consumption and emissions of pollutants require a transition from a compensation-based environmental protection approach to project financing of environmental transformation. The key tools identified include the green bonds, ESG loans, subsidies, public-private partnership, climate finance and targeted investments in land reclamation, water treatment, waste recycling and energy-efficient equipment. The article proposes an organizational and economic approach to assessing green projects with account of environmental effects, life-cycle costs, investment risks and their impact on sustainability of mining companies.
Keywords: green finance, mining industry, green projects, ESG loans, green bonds, land reclamation, energy efficiency, environmental risks, environmentally responsible modernization, public-private partnership, climate finance
For citation: Krupnov Yuriy A., Nadtochiy Yulia B., Shchepkina Natalia N., Askarbekov B. Financial mechanisms for implementing green projects in the mining industry. Mining Industry Journal (Gornaya Promyshlennost). 2026;(5):59–66. https://doi.org/10.30686/1609-9192-2026-5-59-66
Article info
Received: 27.05.2026
Revised: 09.07.2026
Accepted: 21.07.2026
Authors info
Krupnov Yuriy A. – Dr. Sci. (Econ.), Professor, Department of General and Project Management, Financial University under the Government of the Russian Federation, Moscow, Russian Federation; https://orcid.org/0000-0002-9524-3747; е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Nadtochiy Yulia B. – Cand. Sci. (Educ.), Associate Professor, Associate Professor of the Department of Strategic and Innovative Development, Financial University under the Government of the Russian Federation, Moscow, Russian Federation; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Shchepkina Natalia N. – Cand. Sci. (Econ.), Associate Profes- sor of the Department of Strategic and Innovative Development, Financial University under the Government of the Russian Fed- eration, Moscow, Russian Federation; https://orcid.org/0000-0002-3250-6212; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Askarbekov Bakytbek – Doctoral Student, Kyrgyz Economic University named after M. Ryskulbekov, Bishkek, Kyrgyzstan; https://orcid.org/0009-0009-9146-5236; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
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