7 OCT 2021
This consultation is now closed (27 November 2021)
With COP26 approaching and a sea change in the attitude of many investors, lenders and other property stakeholders, the time is now to engage with the impact of sustainability and ESG on commercial real estate valuation and strategic advice.
Over the last year RICS has been developing and preparing a new Global Guidance Note: Sustainability and ESG in commercial property valuation and strategic advice.
We will also look to carry on the digital conversation and provide updates across all of our channels and sector forums globally.We also recommend reading the Sustainability Report 2021
We have held two global webinars, a series of global advisory forums and an eight-week digital conversation on our Insight Community. We have gathered insight from a wide range of stakeholders globally including governments, investors, regulators, valuers and built environment professionals.
The proposed guidance note has two main aims:
…the relevance and significance of sustainability and environmental matters should form an integral part of the valuation approach and reasoning supporting the reported figure.
RICS Global Standards - Valuation “Red Book”, VPS 3, 2.2, effective 31 January 2020
The guidance note does not make policy recommendations or estimate the future direction of ESG and sustainability but instead focuses on delivery of valuations in current markets. The guidance will be reviewed and updated on an agile basis – reflecting pending developments in International Valuation Standards and the wider investment and regulatory framework globally.
If you would like more information about this project please contact Charles Golding: email@example.com