As a member of the UN global compact, a voluntary initiative that advocates for responsible business practices, RICS has released its 2024 edition of its communication on engagement report.

The report substantiates RICS’ commitment to the ten principles of the UN global compact in the areas of human rights, labour, environment and anti-corruption and the Sustainable Development Goals. Significantly, it details specific projects being led by RICS that support the UN’s ambitions and drive positive change, such RICS’ Whole life carbon assessment, which could help reduce emissions from buildings, paving a way for a net zero built environment. In addition, RICS’ responsible business framework points out key recommendations on how professionals can operate in a responsible and ethical manner and align their practices according to environmental, social and governance (ESG) principles.

This report reinforces RICS’ commitment to lead and influence on sustainability.  Undoubtedly, there is still much to do.

With a global spotlight on building emissions, perhaps the most vital aspect of this ambition is to continue to develop and strengthen guidance and standards for measuring and reporting on carbon. Advocating for global adoption of these standards so that climate targets can be met is equally important.

Preservation and restoration of nature and biodiversity also cannot be overlooked. Standards, guidance and thought leadership around sustainable land use and development of land performance metrics are critical subject matters that must be addressed by professional bodies such as RICS.

Development of industry standards and products must be met with appropriate education and training programmes to allow professionals to integrate sustainability principles and climate literacy with existing technical and professional practices.  It will be impossible to implement this without further collaboration, partnerships and data sharing. RICS’ report details some important examples of this.

RICS’ work with the Building Breakthrough initiative could prove to be important step towards supporting decarbonisation of the building sector and embedding resilience and adaptation measures into buildings. Advancing circular economy practices across the profession, developing tools for biodiversity assessments and creating metrics to measure infrastructure resilience to climate shocks are just some of the projects that RICS could explore moving forwards.