Leading on issues that matter

With the built environment estimated to be responsible for around 40% of global carbon emissions, RICS is championing sustainable practices across the built and natural environment. We are also empowering professionals to embed sustainability considerations into the way they work and better measure environmental impacts.

ICMS3

International Cost Management Standard (ICMS) 3

ICMS 3 was launched in November 2021. A world-first standard for cost and carbon management in construction, it will contribute positively to efforts to decarbonise the construction sector in the most cost-effective way. ICMS 3 is globally agreed by 49 prominent professional bodies that are part of the ICMS Coalition, including RICS, who have collaborated to develop and raise the standard of construction carbon and cost management for public advantage.

ICMS 3 has been endorsed by the Task Force on Climate-Related Financial Disclosures (TCFD). The Scottish Futures Trust has also agreed to promote ICMS 3 as part of its Net Zero Public Sector Building Standards.

ICMS3

‘The ICMS journey has been a beacon of how collaboration works, with 49 international public benefit bodies pioneering ICMS 3, a world-class standard for costs, life cycle and carbon in construction.’

Justin Sullivan

Chair of the ICMS Coalition & Construction Industry Council

‘Decarbonising construction is now essential to meet the goals of COP26. Critically, to achieve this, we need globally standardised reporting systems – unless we measure it, we cannot manage it.’

Alan Muse

Head of Construction Standards at RICS

Built Environment Carbon Database

RICS is leading the development of a free-to-access Built Environment Carbon Database in collaboration with organisations that cover the breadth of the UK built environment.

The database aims to be the main source of carbon estimating and benchmarking in the UK construction sector in order to support the decarbonisation of buildings and infrastructure. 

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International Building Operation Standard (IBOS)

 

RICS' International Building Operation Standard (IBOS) was launched in February 2022 to equip building occupiers, owners and investors with better data to meet their sustainability and people-centred goals.

COP26 in Glasgow

COP26 provided an opportunity to drive lasting change in decarbonising the sector. RICS members play a pivotal role in addressing the challenges of climate change by providing the data to drive decarbonisation across the whole lifecycle of the built environment. 

RICS published several case studies during the conference period, highlighting the role of the profession in decarbonising the built environment. These can be found at rics.org/sustainability.

We also published a COP26 special edition of our monthly residential market surveys, which indicated increased demand for energy-efficient homes. 

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UN Global Compact Report

RICS is a participant of the UN Global Compact, the world’s largest corporate sustainability initiative. We are committed to its Ten Principles and the wider UN Sustainable Development Goals (SDGs), driving awareness and action to address the world’s most pressing environmental and social challenges in the land, construction, real estate and infrastructure sectors.

Our latest Communication on engagement report for the UN Global Compact highlights some of RICS’ actions to drive a more sustainable future in the built and natural environment.

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Launched: June 2021

RICS consumer guidance on reducing carbon in the home

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Sustainability and ESG in commercial property valuation

In January 2022, we published updated guidance that provides a practical framework for delivering on sustainability and environmental, social and governance (ESG) investigation and reporting requirements in professional valuation advice.

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RICS’ Responsible business framework

RICS’ Responsible business framework was published in December 2021. It supports firms in building and communicating a responsible business strategy that mitigates negative environmental and social impacts.

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RICS Awards 2021

The RICS Awards not only showcase the most inspirational initiatives and developments in land, real estate, construction and infrastructure, but also provide both local and global recognition. Driven by the highest standards of professionalism and ethics, we shine a light on the great achievements of teams and individuals. 

In 2021, the awards took place across the APAC market, with finalists announced in Hong Kong, Southeast Asia, Australia and New Zealand. We have highlighted just a few winners from each region below, but you can also see the full list of winners. 

Winners from all other markets will be announced in late 2022.

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