RICS Sustainability Report 2021 and Sustainability Report Addendum 2021

RICS (2021) | Policy, Insurance, Standards

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The inaugural RICS Sustainability Report in 2021 emphasized the pivotal role of the built environment in addressing climate change, given its contribution to approximately 40% of global greenhouse gas emissions.

The report revealed that demand for green buildings and ESG-aligned investments is modest but growing, as demonstrated by the responses of over 4,000 professionals across four regions. While almost half of the respondents noted rent and price premiums for sustainable assets, only a few reported substantial value uplifts. In the past, environmental regulations were not considered to have had a significant impact on operations, and there was little to no measurement of carbon in the construction industry. It became clear that there was a need for global standards on emissions tracking. It is encouraging to note that the ESG momentum appears to be driven more by stakeholder expectations and reputational benefits than profit…