Update from Justin Young, RICS CEO - September 2024

Voting for elections to the RICS Governing Council opens today. This year, I’m delighted to say that we have received 89 applications from a wide range of excellent candidates all over the world. Every seat in this election is being contested – a testament to the growing enthusiasm and dedication of RICS members to drive positive change in the profession. You have until 1 October to vote online: Governing Council elections (rics.org). This is an important opportunity to influence the future of surveying by choosing Governing Council members who will shape the profession over the next months and years.

Leading on sustainability

As a signatory to the UN Global Compact, we report on our sustainability activity (PDF) each year. The report was an opportunity for me to reflect on a year of activity that has seen RICS adopt more of a leadership role in this key area.

From our updated Whole Life Carbon Assessment standard, the world’s only comprehensive standard providing a whole life carbon methodology for projects and assets, to the Built Environment Carbon Database, which allows professionals to log and share product- and project-level carbon assessments, we are leading on the critical area of carbon measurement, a foundation of any carbon reduction effort. We have also published the Residential retrofit standard, to support professionals in providing advice to the public on retrofit options in homes, in turn supporting efforts to decarbonise the residential property sector.

You can read about these initiatives, and more, in the report. We have really stepped up to this challenge, providing the support and advice the industry needs to meet its commitments and those of our national governments. By ensuring RICS is seen as a global leader, we ensure your membership enables you to be a trusted advisor on sustainability and climate change for your business and clients.

Strengthening trust in valuation

I would like to welcome Victor Olowe to the Chair of our new Valuation Assurance Committee (VAC). The committee is one of the main recommendations of the Independent Review of Real Estate Investment Valuation. It will oversee the regulatory quality assurance framework for more than 16,000 RICS-registered valuers and 2,500 RICS-regulated firms internationally that offer valuation services, so that RICS valuers are recognised as world-leading professionals.

Victor brings vast experience as a governance consultant, board reviewer and a former Chief Executive of the Council for Licensed Conveyancers. We are now recruiting the rest of the committee and plan to have it fully operational by the end of 2024. You can find out more about VAC member roles and apply online.

Acting on the Grenfell Inquiry report

Tomorrow, the UK’s Grenfell Tower Inquiry will publish its Phase Two report, which will lay out its findings on the causes of the fire. As accredited professionals, the role of RICS members is critical in building safer and better, globally.  We must collectively commit to continued learning from Grenfell, and to implementing change where it is needed to avoid recurring disaster. While Grenfell was a UK tragedy, there will be many lessons that are relevant for members across the world.

RICS will continue to play its part in improving fire safety in the public interest, and I welcome your input as we do so. RICS will lead two virtual sessions in the coming weeks. The first, a 30-minute drop-in, will be an open forum for members to share thoughts and concerns, which will be considered by our Fire Safety working group and team as we review the recommendations. Two weeks later, the group will draw out areas of interest to members together with a summary of the recommendations in a webinar. You can sign up for both events here.

Shaping the future

In recent months, RICS leadership and market teams co-hosted a series of member engagement events in partnership with UK regional boards. The initial meetings have been in the UK, but we are in the process of scheduling in-person and virtual events so wherever you are in the world, you will have the opportunity to participate before the end of this year. We're committed to being transparent - sharing what we hear and what we're doing about it. This is why we've published a page with common themes raised by members, and what we're doing to address their feedback.