The Role of Hard and Soft Law in Securing Sustainable Investment in the Russian Federation

This article examines the complex relationship between sustainable development, climate change, and the evolving landscape of investment, particularly through the lens of ESG (Environmental, Social, and Governance) principles. With an emphasis on the legal frameworks and soft law practices that govern sustainable investment, the study highlights the pivotal role of incorporating ESG factors into corporate governance and investment decision-making to foster environmental sustainability and social equity. It examines the legislative acts at both global and national levels, with a specific focus on Russian law and its application in areas like the Arctic zone, where sustainable investment regulations are crucial. The paper also critically assesses the terminological ambiguities surrounding sustainable development and ESG investing, pointing out the challenges of achieving a universally accepted definition and the potential implications for policy and practice. Through a detailed exploration of hard and soft law mechanisms, the study underscores the significant impact of non-binding guidelines and ethical standards in shaping investment strategies that prioritize long-term sustainability over short-term gains.