We invite responses on a new draft guidance note: environmental risks and global real estate, 1st edition.
This guidance note, which applies globally, supplements the RICS Valuation – Global Standards 2017 (the ‘Red Book’) and addresses in greater detail the environmental matters that may affect real estate interests. This document will supersede earlier guidance, notably Contamination, the environment and sustainability: Implications for chartered surveyors and their clients (3rd edition, 2010).
Environmental matters affect real estate in all sectors, and increasingly there are implications for how we buy, sell, use and value real estate. Global market participants and their lending partners now demand to know more about the factors that could affect value, particularly environmental considerations, and surveyors are constantly approached for advice in this area and are frequently involved in decisions on these issues.
Whether acting for clients, employers or public authorities, surveyors cannot ignore:
- the existence of the environment
- the law governing the environment
- its effects on value
- the management of land and property
- land use
- development and the re-use of land and buildings and
- the obligations on surveyors that arise from these duties.
Responses to the consultation are accepted until midnight on 30 July.
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