Investors’ Interest In Green Investments : How Does The Share Trading Volume Change After Environmental Announcements By Their Issuers?

English Abstract: Sometimes, based on the dynamics of trading volume, it is possible to judge changes in investor sentiment with a greater reliability than when analyzing quotes. Despite this, there are practically no investigates the dynamics of the trading volume of shares when the issuer increases the level of environmental sustainability. At the same time, introducing environmentally friendly technologies and the transition to renewable resources are becoming increasingly widespread. The purpose of the work is to analyze changes in trading volumes of shares after statements by their issuers about planned environmental actions. The study uses methods of descriptive statistics and event analysis, examines data on trading volumes on two exchanges: Moscow and NASDAQ. The work showed that environmental announcements of companies mainly lead to a decrease in trading volumes of their shares, and on the Moscow Stock Exchange, compared to the NASDAQ market, trading volumes decrease more significantly and for a long time. The reason for the decrease in trading volumes is an increase in the variance of investors’ beliefs with an increase in the investment risk they assess. The effective directions of leveling the financial losses of economic entities after the greening of their activities are recommended