Update from Justin Young, RICS CEO - July 2024

In recent weeks, we have seen the hard work of delivering our strategy start to reap tangible rewards. I enjoyed the opportunity to showcase the impact of our work for members around the globe at this year’s Annual General Meeting. The AGM, my first as CEO, was well attended both in person and online and provided an overview of the huge amount of work we are progressing to deliver an experienced-led organisation for the profession. I am pleased to report that we’ve since received a great deal of positive feedback from members and you can find answers to any questions we didn’t have time to address during the meeting at RICS.org.

Annual Review

Another way to stay abreast of our progress is through the RICS 2023 corporate reports, which were published this month. Our annual review shines a light on our work for the profession and this year, it is accompanied by our Governance report 2023, financial statements and Remuneration report 2023. Together, these documents provide members with a comprehensive overview of RICS’ direction and focus, along with our achievements and efforts in 2023.

UK elections

Ahead of the UK General Election, RICS was vocal in its advocacy for a comprehensive set of policies across key issues impacting the built and natural environment. ‘What does the next UK government need to do?’ was the topic of a lively debate held at RICS HQ 36 hours before the polls opened, and there was a palpable sense of urgency among both panellists and the audience at the packed-out event.

After the election I expressed my congratulations to the Labour Party on their win. It is vital that the party now translates its manifesto pledges into sound and workable policy with speed. As the results rolled in, I sat down with Bloomberg to discuss what the result means for the housing and construction markets.

You can find analysis and commentary by sector, as well as a breakdown of our key asks of the new government on our general election hub.

Have your say

Meanwhile, our own Governing Council elections are approaching, and members can put themselves forward for election now. This is your opportunity to make a difference and play a vital role in delivering RICS’ strategic vision to achieve a built and natural environment that is sustainable, resilient and inclusive for all. This year, we have made it easier than ever to take part. If you’d like to stand, submit an application here before 13 August 2024.

As well as engaging with the Governing Council election process, I encourage you to provide your feedback to help shape a range of important developments. We have launched a consultation for members as we prepare to update the RICS Red Book Global Standards as part of our commitment to support high standards in valuation delivery worldwide and future-proof practices in the public interest. I’d encourage you to take part in the consultation here.

You may also be aware of the live CPD Framework consultation and Entry and Assessment final report consultation. Both are essential to maintaining and enhancing public confidence in the profession, so please do participate to ensure your views are considered.

Connecting with members

Over the last month we have prioritised connecting with members face to face. I attended several ‘Shaping the Future’ events for members, co-hosted by our regional board Chairs and Vice Chairs. At these events, which included roundtables, we listened to members share their views on the ways in which RICS can ensure that our services are tailored to deliver a much stronger member experience. I’m grateful to the hundreds of members who have attended these events so far for their time and feedback, and look forward to meeting many more of you at future events later this year.

A big step forward for sustainability

While these events and consultations will inform future work, we reached a major milestone in our mission to lead and influence on sustainability last week. The second edition of the whole life carbon assessment (WLCA) standard, which officially replaces the first edition, came into full effect on July 1, 2024. A world-leading and award-winning standard for consistent and accurate carbon measurement in the built environment, WLCA will better support professionals to measure, manage and reduce life cycle emissions and help deliver a net-zero future. RICS is actively collaborating with industry bodies across the globe, including UNEP, Global ABC, and the World Business Council for Sustainable Development's (WBCSD), to accelerate progress worldwide.

Pride month

Finally, last month Pride took centre stage, culminating in our participation at Pride in London, where RICS colleagues and members marched in the parade alongside our fellow built environment body partners and industry LGBTQ+ networks. Throughout the month, we worked to drive tangible change in the industry by signposting our Rules of Conduct Rule 4 Guidance, created by DEI experts and RICS members to support the development of inclusive cultures and recruitment, which is a requirement of our member firms. Thank you to everyone who took part to celebrate, represent RICS and champion an inclusive profession.