The Association of Commercial Real Estate Market Participants for Sustainable Development, founded by O1 Properties and STONE developer, was recognized as the “Best Project in the Field of Sustainable Development” at Arendator Awards 2023 – federal commercial real estate awards.
It became the first ESG-based industry association of commercial real estate companies and is designed to put forward initiatives aimed at increasing market sustainability, as well as serve as a platform for interaction between players with the aim of developing joint projects.
One of the first initiatives that brought together the founders and participants of ARKN was the discussion of the need to create a Russian “green” commercial real estate certification system to replace foreign certifications that had suspended their work. Thanks to the direct participation of the association in forming the infrastructure for the creation of a national system, the Clever certification system was launched in the summer of 2022 with the support of VEB.RF and the PPP Center.
“Projects aimed at sustainable development embody the social and environmental responsibility of business, and most importantly, they set a new standard of quality in the commercial real estate industry. Integrating ESG principles into a company’s strategy is not just a trend, it is a conscious choice in favor of long-term progress and the well-being of society. For us, as leaders in the commercial real estate market, it is important not only to follow global sustainable development trends, but also to contribute to the formation of an environmentally responsible and socially oriented approach in the Russian market. That is why the creation of this association has become an essential solution for the commercial industry in Russia. Together with the STONE developing company and other market participants, O1 Properties strives to set high standards, raising the bar for the quality of office spaces,” said Pavel Barbashev, Head of Sales of O1 Properties.
“The ESG agenda remains one of the main trends in the development of the commercial real estate market. And our joint work with colleagues from the initiative group on the creation of the association became an important step in initiating the formation of a single sustainable development vector for companies engaged in real estate development. We have big plans for further evolution, and we thank the expert jury of the Arendator Awards 2023 for their support in promoting the ESG direction,” said Deputy CEO of STONE Victoria Vasilyeva.
The Association of Commercial Real Estate Market Participants for Sustainable Development was registered in June 2023. The mission of the association is to promote the growth of the commercial real estate market based on the principles of social and environmental responsibility, as well as corporate governance.