YASHIL IQTISODIYOTGA O‘TISH JARAYONIDA TIJORAT BANKLARIDA INVESTITSIYA LOYIHALARI SAMARADORLIGINI OSHIRISHDA ESG TAMOYILLARINING ROLI
DOI:
https://doi.org/10.5281/zenodo.17577268Keywords:
ESG tamoyillari, bank samaradorligi, yashil iqtisodga o‘tish, risk boshqaruvi, siyosiy deformatsiya, barqaror investitsiya kanallari, moliyaviy ochiqlik rejimlariAbstract
Ushbu loyihalar bilan bog‘liq eng asosiy savollardan biri shuki: nega tijorat banklari o‘z kapitalini bunday
investitsiyalarga jalb qilishadi? Moliyaviy qarorlarning chuqur ildiz otgan jarayonlari va natijalari ko‘p jihatdan ESGga oid
ichki hamda tashqi omillar ta’sirida shakllanadi. Ushbu tadqiqot ESG tamoyillarining to‘g‘ridan-to‘g‘ri samaradorlikka ta’siri
va faol risk boshqaruvi amaliyotlarining (xususan, atrof-muhit standartlari va ijtimoiy boshqaruv) moderatsiyalovchi rolini
hisobga olgan holda, ushbu munozaraga hissa qo‘shadi. Bank sohasida portfel darajasidagi yashil investitsiyalarning
o‘sishi tradicional modeldan barqaror (sustainable) tizimga o‘tishda moliyalashtirish kanallari samaradorligiga qanday
ta’sir ko‘rsatganini miqdoriy tekshirish uchun korrelyatsiya metodlari regressiya tahlili bilan uyg‘unlashtiriladi. Bir necha
yillik konseptual xaritalash ramkasi asosida — ESG dasturlarining dastlabki qabul qilinishidan to to‘liq joriy etilish
bosqichigacha — ikki xil bank modeli va institut darajasidagi faol tuzilmalar joriy ta’siri baholanadi hamda solishtirma
sxema yaratiladi. Regressiya natijalari turli ESG intensivligiga ega kanal tizimlarining samaradorlik profillarini ochib beradi
va yashil standartlar tobora kuchayishi bilan atrof-muhit indikatorlari, ijtimoiy tashabbuslar va boshqaruv mexanizmlarining
ta’siri aniqlanadi. Natijalar uzoq muddatli investitsiyalarning nisbatan barqaror shaklga ega ekanini, barqarorlikka
yo‘naltirilgan tuzilmalar bilan ijobiy korrelyatsiyaga ega bo‘lishini ko‘rsatadi. ESG tamoyillarining siyosiy deformatsiyalarga
sezuvchanligi isbotlanadi va empirik ma’lumotlar orqali an’anaviy tizimdan yashil moliyalashtirishga o‘tish yo‘li aniqlanadi.
Global moliyaviy bozorlar va manfaatdor tomonlar ehtiyojlari tobora oldinga chiqayotgan bir paytda, tadqiqot natijalari
nafaqat bank investitsiya strategiyalari va loyihalar samaradorligi, balki yashil iqtisodga o‘tishda regulyatorlar uchun ham
amaliy ahamiyatga ega.
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