ESG-transformation of the mortgage market

An analysis of the introduction of green standards in the mortgage lending market is being carried out. The author examines the relationship and interdependence of financial instruments of the mortgage market: mortgage loans and mortgage-backed securities. Their impact on supply and demand in the real estate market is assessed. The reasons for the slow development of green finance in the Russian Federation are shown. The author shows for the mass use of financial ESG tools, it is necessary both to form an environmental consciousness of all market participants, and more effective support from the state. The author substantiates the need to develop transparent criteria for classifying loans (projects that attract funding) as responsible financing instruments.