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Delivering Confidence for public advantage and social impact

Delivering Confidence for public advantage and social impact

Building Trust through leading standards that impact people’s lives 

We continue to prioritise the development and enforcement of leading international standards, which protect consumers and businesses and ensure the highest level of professionalism is employed across the built and natural environment. With our evidence-based approach and extensive knowledge of the built & natural environment we are able to influence policy and give expert advice to public bodies and decision makers. These standards continue to be adopted in the major economies of the world by governments and end users helping to provide market confidence.  

As part of the wider governance changes agreed in November 2018, a new Standards and Regulation Board (SRB) was created and came into being on 2 March 2020. The SRB has updated RICS’ governance and continues to work to maintain public trust and confidence in the profession. Dame Janet Paraskeva was appointed to lead the SRB as Chair alongside four independent non-executive members and four RICS professionals.

RICS professionals work all over the world across all sectors, and at a cross-governmental level. It is vitally important that common professional standards apply across the world to create and sustain a foundation for confident markets, for the benefit of everyone

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Dame Janet Paraskeva

Our global standards

ICMS adoption progress and momentum provides future vision by benchmarking and reporting construction project costs to enable greater efficiency and consistency. The second edition, ICMS 2, was developed by a 50-strong global coalition of professional bodies including RICS.

This new standard is a game changer for the global construction industry, providing for the first time, an internationally standardised way to report the full life cycle cost for portfolios, programmes, and projects around the world. In a world where significant investment is needed in construction and infrastructure, this is of major public benefit.

In 2019, ICMS enabled one major consultancy to save its client $100 million on a $500 million programme over five years.

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ICMS take-off at London Luton Airport Ltd

In their search for a common cost data structure that has been ratified by professional bodies around the world ICMS has proved ideal for London Luton Airport’s recent development plans. 

Arup, who provide capital investment advice to international aviation clients, operators and financiers like LLAL noted that in moving to a secure, centralised digital environment, data needed to have a common standard to enable global benchmarking and sharing. The arrival of ICMS was ideal when it came to their client’s development plans as it provided a structure for capturing data on a consistent basis and enable cost savings.

LLAL and the delivery team have undertaken a review of the existing cost plan and restructured it into the ICMS cost classification.  

The move to an international measurement standard has improved the transparency of capital costs and allowed us to better analyse delivery options and to optimise the balance between environmental, social, economic and governance benefits.

Antony Aldridge, Programme Director
Future Luton, LLAL

 

Anti-money laundering in Germany

Following a joint event with the Institute for Corporate Governance (ICG) on anti-money laundering in Germany and several meetings with RICS in the autumn of 2019, KPMG Germany adopted the anti-money laundering RICS standard. They will be cooperating closely with RICS Germany to promote the standard to their clients, as it demonstrates what the real estate sector should do to be compliant with the EU Directive and German law on anti-money laundering. This will lead to further business development on sponsorship and growth in the profession.

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Influencing policy globally

RICS found itself in a unique position for shaping national standards in China for the first time, through involvement in drafting the Terminology of Building Economy, the Public Service Specification for Office Building and the Office Building Rating Standard 

RICS was appointed the sole advisor to the Chinese government to review these three national standards which were of strategic importance to the Central government because they were the first standards in their respective area in China.

RICS’ involvement in these national standards not only strengthens our relationship with the central government, but also creates an empowering environment to deliver our professional standards, such as IPMS, ICMS and professional qualifications further.

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Positive social impact

While we recognise that a great deal of focus is on dealing with the health and economic impacts of a pandemic, we believe that as we emerge from this, the principles of ESG (Environmental, Social and Governance) will become ever more critical. The RICS Awards shine a light on the positive social impact of the profession and the built and natural environment.

The RICS Awards showcase and recognise inspirational initiatives and developments in land, real estate, construction & infrastructure in the UK.

The £18 million Caudwell International Children's Centre (CICC) set in the grounds of Keele University in Newcastle-under-Lyme (West Midlands) won the overall UK Project of the Year title at the annual RICS Awards for demonstrating outstanding best practice and proving to be of monumental benefit to its local area and wider economy. 

The centre is transforming the way people with autism can be helped and reducing waiting times. 

RICS Grand Final Judges commended the project team – Buckingham Group, C4 Projects, KGA Partnerships, Tier Consult and the CICC – for their collaborative and co-ordinated approach to delivering what they described as “an inspirational building of distinction”. 

Chair of the national RICS Judges, David Brooks Wilson FRICS, Chairman and CEO at Noble Wilson said  

"Good building design and innovation should be the catalyst from which other benefits follow. The CICC is clearly improving the lives of thousands of children and their families, whilst improved educational and employment prospects have helped deliver significant social and economic benefits."

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World Built Environment Forum

Through our World Built Environment Forum we are able to research, design and deliver lifelong learning and development that advances innovation in the built and natural environments. WBEF facilitates working collaboratively to maximise the opportunities and overcome the challenges of urbanisation so we can pioneer better environments and create better places and spaces for future generation

Over the last year the World Built Environment Forum has seen exponential growth with a global network of over 16,000 professionals – a 278% YoY increase , drawn from over 130 countries.

We made the decision once the global lockdown was put in place to run a series of webinars that would explore the impact of COVID-19 on different verticals of the industry. These saw our highest attendance, with a total of 4,043 across the 9 webinars. 

Visit the WBEF webinars website

To support the profession in understanding how the salient strategic themes are affecting the industry now and in the future we delivered 38 webinars with an 88% satisfaction rating, covering topics such as: 

  1. Driving private investment in infrastructure provision
  2. De-risking green finance  
  3. COVID Regional Impact - UK and I 
  4. COVID Regional Impact - APAC 
  5. COVID Regional Impact - Europe 
  6. COVID Regional Impact - North America 
  7. COVID-19 sectoral impact analysis - Construction, infrastructure and capital projects 
  1. COVID-19 sectoral impact analysis - Commercial Real Estate Investment 
  2. COVID-19 sectoral impact analysis - Residential  
  3. COVID-19 sectoral impact analysis - Logistics 
  4. COVID-19 sectoral impact analysis - Workplace and Facility Management 
  5. Investible, inclusive, resilient: Infrastructure in the post pandemic world – in partnership with the Global Infrastructure Hub 
  6. RICS and World Economic Forum 
  7. The liveable city: stable, smart and healthy 

Clearly experts in their fields, very informative and leaves me wanting to research more, and the speakers signposted plenty for me to do this. Thank you, the most professional webinar I have attended during lockdown!

Samantha Powell
Department for Education 

Excellent discussion, and breadth of panellists.  Eye opening to delve into international investment sentiment in residential, and potential for heightened standards and housing product to maybe be accelerated post-COVID crisis.

Andrew McAllister
Forestry and Land Scotland

In June we launched the RICS WBEF Insights Podcast series, providing more in-depth exploration of our key strategic themes but delivered in an accessible way. By year end we had over 380 downloads of 5 episodes. 

In addition, we have developed strategic partnerships with the Global Infrastructure Hub, the World Economic Forum and McKinsey and Co. These partnerships will help us embed the profession as trusted partners for the wider industry and fundamental in driving the post COVID-19 recovery to create a sustainable, equitable and inclusive future for the next generations. 

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