Legal & Regulatory News

Royal Institute of Chartered Surveyors publishes guidance note on sustainability and ESG in commercial property valuation

On 21 December 2021, the Royal Institute of Chartered Surveyors (RICS) published an updated guidance note providing practical and globally relevant principles for the delivery of the sustainability and ESG requirements in the Red Book Global Standards.

The guidance offers advice supporting commercial valuation best practice and highlights the potential for alignment of ESG and sustainability considerations to the core mechanics of property valuation (purpose, basis, approach).

The guidance will become effective as of 31 January 2022 and is part of a suite of professional standards for sustainable practices across the built and natural environment which will be reviewed and updated periodically by the RICS.

Click here to access the guidance.

Click here to access the press release.