ESG-DIRECTION OF RESIDENTIAL REAL ESTATE DEVELOPMENT IN THE REPUBLIC OF BELARUS

UDC 332.8

 

Rassokha Yauheni Vyacheslavovich – PhD (Economics), Associate Professor, Head of the Department of Production Organization and Real Estate Economics. Belarusian State Technological University (13a, Sverdlova str., 220006, Minsk, Republic of Belarus). E-mail: y.rassokha@belstu.by

Frantsuzova Anastasiya Mikhailovna – PhD student, the Department of Production Organization and Real Estate Economics. Belarusian State Technological University (13a, Sverdlova str., 220006, Minsk, Republic of Belarus). E-mail: a.frantsuzova@belstu.by

DOI: https://doi.org/10.52065/2520-6877-2024-280-16.

 

Key words: residential real estate, ESG development, expert assessments, ESG estimation system, ESG concept.

For citation: Rassokha Y. V., Frantsuzova A. M. ESG-direction of residential real estate development in the Republic of Belarus. Proceedings of BSTU, issue 5, Economics and Management, 2024, no. 1 (280), pp. 128–133 (In Russian). DOI: 10.52065/2520-6877-2024-280-16.

Abstract

In recent years, the ESG trend in residential real estate has been the focus of various institutional stakeholders. Key drivers of demand for ESG housing solutions include public awareness, building codes and energy efficiency policy. In the long term, the ESG development of residential real estate is expected to implement ESG solutions into all business processes of the real estate life cycle as a product of the activities of development and management companies. Its implementation is determined by the interaction of the state with developers, financial institutions and owners (users) of residential real estate. In the short term, one should focus on the creation of ESG assessment systems for residential real estate, based on significant factors for owners (residents). Analysis of ESG rating systems showed that they can be based on an emphasis on: environmental aspects and energy eficiency; equally environmental, social and economic aspects throughout the real estate life cycle; quality of living, improving the health and well-being of people; technical, environmental and organizational requirements at various stages of the real estate life cycle. For the ESG development of residential real estate in Belarus, it is necessary to develop an ESG concept, principles of ESG development and organizational and methodological tools for ESG estimation.

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15.02.2024