RICS Contributions Featured in Final New European Bauhaus (NEB) Investment Guidelines

We are pleased to announce that RICS has made significant contributions to the final New European Bauhaus (NEB) Investment Guidelines, a key report developed by the European Commission and the European Investment Bank.

As a partner of the New European Bauhaus initiative, RICS was invited to support the creation of these guidelines, which aim to provide strategic insights on sustainable investment in the built environment.

In December last year, RICS was approached to offer expertise on the guidelines, and we enlisted Susanne, Chair of the European World Regional Board (EWRB), to represent us. Susanne provided valuable input, including an interview for the report, and RICS was later asked to comment on the draft text in the spring of this year.

We are proud to share that two of our key recommendations were incorporated into the final document:

1. Life-cycle Assessment in the Built Environment On page 174, the report emphasizes the importance of life-cycle assessments in sustainable construction, referencing RICS' professional standard, Whole Life Carbon Assessment for the Built Environment (2023). This standard, which will take effect from July 2024, highlights the need for comprehensive carbon assessment throughout a building’s life cycle. The reference can be found in footnote 154:
   “Considerable efforts have already been carried out in this regard by RICS, Professional Standard – Whole Life Carbon Assessment for the Built Environment, 2023 (Effective from 1 July 2024).”
2. Advancing the UN Sustainable Development Goals (SDGs) On page 178, the guidelines address the importance of the SDGs in the real estate and construction sectors. RICS is acknowledged for its work in advancing responsible business practices, with a reference to our 2018 report, Advancing Responsible Business in Land, Construction, and Real Estate Use and Investment: Making the Sustainable Development Goals a Reality. The reference is cited in footnote 188:
   “See, for example: United Nations Global Compact, RICS, Advancing Responsible Business in Land, Construction and Real Estate Use and Investment, Making the Sustainable Development Goals a Reality, 2018.”

These inclusions are a testament to the expertise and thought leadership RICS brings to the sustainability conversation in Europe. Our commitment to promoting sustainable practices in land, construction, and real estate aligns closely with the values of the New European Bauhaus, and we are honoured to have contributed to this important initiative.

We encourage you to review the full NEB Investment Guidelines here, and we look forward to continuing our collaboration with the European Commission and other partners in shaping a more sustainable future for the built environment.

For more information please contact Senior EU Public Affairs Manager, Fausta Todhe at ftodhe@rics.org or EU Sustainability Specialist, Valeria Sepe at vsepe@rics.org.