14 June, 2023
Association of Commercial Real Estate Market Participants for Sustainable Development launched in Russia

The Association of Commercial Real Estate Market Participants for Sustainable Development (ARKN) was registered in Russia. O1 Properties and STONE HEDGE are the founders.

The association aims to represent the interests of commercial real estate companies, put forward initiatives to increase the market’s resilience to external challenges, and serve as a platform for interaction between players in order to develop joint projects.

The first initiative that brought together the founders and future members of the Association was the discussion of the need to create a Russian system of “green” certification of commercial real estate to replace the foreign systems that have suspended their work. In particular, the companies took a direct part in creating the infrastructure and promoting the Clever certification system, which was launched in the summer of 2022 with the support of VEB.RF and the PPP Center. An agreement was reached on the participation of association representatives in the work of the ANO “Center for Sustainable Development in the Field of Construction and Operation of Real Estate,” which developed the Clever system methodology. The involvement of developers and property owners in  this work will guarantee a balance of interests and will allow taking the work proposals and initiatives of industry participants into account.

“The goal of the association is not only to widely disseminate the sustainable development principles, but also to raise the significance of commercial real estate, introducing ESG principles in its design, construction and management: environmental efficiency, establishing a comfortable, healthy and safe environment. Bringing together market professionals will be an important step in strengthening the development of industry sustainability. We see that this initiative is in demand and relevant among developers, commercial real estate a owners and tenants,” said Pavel Barbashev, Head of Sales at O1 Properties.

The association will comprise commercial real estate companies concerned with the environmental, social and corporate agenda. The association’s mission is to promote the development of the commercial real estate market based on the principles of social and environmental responsibility and corporate governance. Mikhail Kaplun, director, head of the construction and interior finishing project management department at CORE.XP, was appointed President of ARKN.

“In May 2023, CORE.XP received the status of a consultant for the Clever building assessment and certification system (CLEVER). And judging by the number of requests from the company’s clients for certification, it is apparent that, despite the departure of Western companies from the Russian market, environmental issues have not lost relevance. I am glad to be leading the new Association and am confident in the timeliness and necessity of regulating the sustainable construction industry,” said Mikhail Kaplun, Director of the Construction and Interior Finishing Project Management Department at CORE.XP, President of ARKN.

“We are pleased to create this professional association, and we hope that it will provide an opportunity to form and broadcast a common view of the market to improve and further support tools like Clever,” added Ksenia Lukyashchenko, CEO of the ANO “Center for Sustainable Development in Construction and Operation of Real Estate.”

“The ESG agenda remains an important vector of evolution for development companies and currently continues to strengthen as a long-term trend in market evolution. Thanks to the creation of the association, the professional community of the commercial real estate market will be able to put forward initiatives in the field of green standards, taking into account the specifics of the segment. It will also help to develop the sustainable development trend among market participants, increasing the awareness of the Russian certification of environmental standards “Clever” (CLEVER),” said Deputy CEO of STONE HEDGE Victoria Vasilyeva.