What has been outlined in the RICS sustainability report 2022 ?
- It discusses the increasing demand for green buildings
- it discusses that adding green/ sustainable features to a property increases value.
- The need for a decarbonisation toolkit.
- The need for the industry to upskill staff.
What’s RICS’s view on Sustainability ?
- RICS is championing sustainable practices.
- RICS is empowering professionals to embed sustainability consideration in the way they work.
What Rule of Conduct does sustainability relate to ?
Rule: Members and firms must provide a good quality and diligent service.
- Encourage sustainable solutions that deliver balance on the 3 pillars.
Define sustainability ?
'’Meeting the needs of the present, without comprising the ability for future generation to meet their own needs’’.
What are the 3 pillars of sustainability ?
Environmental - Economic and Social
What are the sustainable impacts of a building site ?
- Contamination
- Grounds surface water pollution
- Noise pollution
- Constructions waste to landfill
Positive impacts of a construction site ?
- Job creation
- Skill and training
- Urban regeneration
- Use of sustainable materials.
What is the Paris Agreement ?
The Paris Agreement is a legally binding international treaty on climate change. To keep global warming well below 2 degrees above pre industrial levels by 2030
What are the aims of the UN Sustainable Developments goals ? (HERT)
- End poverty
- Improve health & education
- Reduce inequality
- Tackle Climate change and preserve our forests and oceans.
What is the Climate Change Act (2008) ?
Commits the UK government by law to reducing greenhouse gas emissions by at least 100% of 1990 levels (net zero) by 2050.
What guidance notes can Valuers use in regard to Sustainability ?
Sustainability and ESG
in commercial property
valuation and strategic
advice (2021)
What is an EPC?
An EPC is an energy performance certificate.
This is mandatory when marketing a property for sale or to let.
They required for all commercial buildings larger than 50 sqm
When should an EPC be commissioned ?
Within 7 days of marketing a property.
The front page of an EPC includes what ?
- Property Address
- EPC certificate reference number
- Technical info
- Estimation of running costs
- Rating between A - G
- Benchmarking info
What penalties can people face ?
For commercial 12.5% of the buildings rateable value. (minimum of £500 and max of £5,000)
When should an ‘action plan’ be implemented ?
For buildings that have a GIA over 1,000 sqm being offered to the market.
An action plan must be prepared by an accredited advisor prior to marketing.
The buildings
What does MEES stand for?
Minimum Energy Efficiency Standards (2015)
Describe MEES?
The requirement for a minimum EPC rating level of E to let a building in England and Wales.
What is the climate change Levy? (CCL)
A tax on energy delivered to non domestic users in the UK. An incentive to increase energy efficiency with businesses and reduce carbon emissions.
Energy generated from renewable sources is exempt from the tax.
What is BREEAM ?
The Building Research Establishment Environmental Assessment Method.
An environmental assessment tool to rate new and refurbished property.
A buildings environmental impact is rated by BREEAM assessors.
The rating includes aspects such as; energy consumption, water use, transport links, health and wellbeing.
What are the 5 BREEAM ratings:
Pass
Good
Very good
Excellent
Outstanding
How can ‘Net Zero’ be achieved ?
- Reduce construction impacts
- Reduce operational energy
Name some key sustainability initiatives ?
UN Sustainable Development Goals
The Paris Agreement
What is the role of the valuer in regards to sustainability ?
RICS valuers are required under the RICS Rules of Conduct to adhere to a number of professional and social responsibilities, act in the public interest, take responsibility for their
actions and act to prevent harm.
Valuers are also required to follow the PS and VPS standards
in RICS Valuation – Global Standards (Red Book Global Standards) and should also follow the good practice advice in the VPGAs.
If sustainability and ESG factors are identified and recognised as having an impact on value, they
should be reflected in valuation and reported
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Accounting Principles & Procedures16
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Business Planning9
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Conflict Avoidance18
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Data Management12
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Diversity, Inclusion & Teamwork3
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Health & Safety16
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Inclusive Enviroments5
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Sustainability38
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Inspection4
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Measurement18
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Valuation - Comparable Method13
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Landlord & Tenant34
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Purchase and Sale35
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Leasing/Letting7
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Development Appraisal20
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Background to RICS32
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RICS - Global Standards - Red Book (Jan 2022)81
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Valuation - Investment Method28
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Valuation - Profits Method of Valuation8
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Inspection30
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Class System11
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RICS Rules of Conducts53
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Commercial Market Summary5
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Business Rates1
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Valuation - General31
