The classification of sustainable (including green) development projects approved by the Russian government made it possible to develop green financial instruments in construction, implemented by DOM.RF, including green bonds of DOM.RF Bank and green MCBs. Marina Slutskaya, Director of Sustainable Development of DOM.RF, spoke about this at the conference “Mortgage Lending in Russia”.
According to him, the “green” GOST R standard for apartment buildings is the basis for the creation of “green” mortgages, project finance, bonds from developers and banks, as well as mortgage-backed securities.
He believes the potential for “green” financing of residential construction projects today is quite high. Slutskaya said that green projects in construction include green and energy efficient homes, green mortgages, among other things.
Also, the Director of Sustainability of DOM.RF said that the company is developing recommendations on the development of such financial instruments in conjunction with the Russian government’s green finance methodology center.
“The classification changes introduced in March offer prospects for the introduction of incentives for the development of green projects in construction. “The changes may also encourage the issuance of green bonds, the proceeds of which will be used to finance or refinance loans to buy flats in energy-efficient buildings.”
In his opinion, the creation and development of such mechanisms will be the driving force of the demand for “green” and energy-efficient construction and verification of the compliance of green buildings with the GOST R standard.
DOM.RF also announced that the system, which confirms the compliance of apartment projects with the “green” standard, is prepared for launch. The Development Institute will act as its operator and provide an evaluation process based on the Unified Housing Construction Information System (UISHS). A compliance confirmation module will appear in the system, where developers can apply for a green “passport” through a personal account. Already, developers can pass a preliminary scoring for compliance with the standard’s six mandatory criteria.
Source: Gazeta
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