According to Jim Sinopoli, managing principal of Smart Buildings, facility management is undergoing a significant process of evolution and transformation. The days when the facilities management (FM) or engineering group was housed in a small office in the basement next to the elevator mechanical room are long gone.
The profile and value of the facilities management team has become more visible and critical as organizational executives grapple with energy, building costs, finances and occupant expectations. However there's still work to do for FM to be fully appreciated and seen as a strategic internal organization and valuable asset.
The increasing pressures, challenges and expectations of FM are unlike those of other business functions. Building operators are now dealing with advanced technology, new building components, increased levels of building complexity, managing energy demand, procuring new energy supplies, a changing skill set and knowledge base for personnel, etc. The transformation is disruptive and will eventually destroy old priorities and processes.
Given that the Spring season is known for renewal and regrowth, now may be a good time to get ready for the new FM reality. For Jim the high priority "To-Dos" are as follows:
1. Start with the Data
Data is the gateway for managing building performance. If you don't have a data management policy, develop one. Identify the information that is strategic to the performance of the building and the facility management organization and then work backward to identify the set of data to support your metric. Review your data management system (not to be confused with a BMS), the use of third-party data such as energy markets or weather, and confirm the accuracy of data sources such as sensors and metering within a building.
2. Invest in People
In many parts of the world, ongoing management and operation of buildings is simply underappreciated, undervalued and an afterthought. And with the talent pool shrinking, so are the skill sets and knowledge bases of what it takes to operate and maintain a changing facility. A priority To-Do item is to focus on attracting, recruiting, and retaining the best talent.
You may want to reassess your recruiting, especially for younger men and women. This is a demographic that has slightly different motivations, such as the public image and values of the company, and is often committed to social and environmental responsibility. Spurred on by the imperatives of energy and sustainability, building systems themselves and the technology of the systems are changing. With that, the role of technicians and engineers is also being redefined.
3. Develop a Plan to Update Your Technology
Upgrading technology is a constant, not static endeavor. If you're sitting on systems older than five years without any significant upgrades or controllers older than ten years than you may want to start with an assessment of your current internal operational systems and building systems.
Particular attention should be paid to the building management system (BMS), as this tends to be the go-to daily operational tool and the depository for much of the building system data points. It's probably time to at least pilot the emerging integrated building management systems (IBMS). The use of advanced software applications integral to an IBMS, such as fault detection or alarm management, has demonstrated significant financial payback in energy and operational costs.
4. Build Better Relationships and Communicate Results
Facility management touches everyone within a building. While some of this is the daily interaction with occupants to resolve issues, and is important, the strategic relationships are with the C-suite and IT, as well as groups involved with capital planning, business strategies and finances.
Within the organization, FM needs to regularly communicate, convey and even promote its accomplishments, reminding others that many times the largest asset in a company is its facilities. Moreover, you must make the case as to why the management and performance of the building is in their (the organization's) best interest and a crucial part of the business and culture.
RICS FM standards
RICS has opened its global industry consultation on strategic facilities management (FM) standards, and is seeking input from expert professionals to shape the final documents. The emerging standards, which will be published in late 2012, are designed to provide greater certainty and consistency in FM processes, and form part of a wider campaign in markets around the world to promote the value of strategic property advice to business.
The standards suite open for consultation includes Facilities Management Core Principles, The Strategic Role of Facilities Management in Business Performance and a facilities management positioning paper.
To contribute to the consultation please access, and make comments directly on, the documents below:
The consultation closes on 24 May 2012.
RICS is calling for members' views on the EU consultation 'Policy Options for the Blueprint to Safeguard Europe's Waters'
The European Commission will present its 'Blueprint to Safeguard Europe's Water Resources' this year. This document will assess the implementation and achievements of EU water policy as well as identify gaps and shortcomings. On the basis of this analysis, the blueprint will identify actions to strengthen water policy and to address ongoing vulnerability of the water environment.
The recent Fitness Check of EU Freshwater Policy and the ongoing assessment of the River Basin Management Plans of the EU member states, conducted by the European Commission in 2010-2012, show that the adequacy of the current water legislative framework is relevant to enable the protection and restoration of clean water across Europe and its long-term, sustainable use. However, there are fundamental weaknesses in the implementation of the current water legislation as well as conflicts between water policy and other EU policies' objectives.
The European Commission's blueprint will thus address implementation issues, the integration of water and other policies' objectives, as well as the gaps in the current EU policy framework. More background on this consultation can be found in the accompanying consultation document.
Take part in the consultation (RICS members only)
In order to respond to the European Commission's consultation, RICS is calling on members with the relevant expertise to answer the consultation's questionnaire via an onlnie survey.
RICS would welcome responses to this survey by 22 May. We request that you only answer the questions that are relevant to your field of expertise.
The questionnaire follows the major expected themes of the blueprint on the challenges for future EU water policy - tools for water management, unlocking measures, economic instruments, governance, knowledge base and global issues. Questions are asked about specific options to address different problems arising within these themes.
There are 18 substantive questions on key issues for the blueprint. Most questions use 'tick boxes', and there are also opportunities to elaborate on your responses.
Yesterday I attended a debate organised by the ENDS report around "How long can business continue to lead the sustainability agenda?". It was stated from the start that the underlying question was "how sustainability can improve business commercial performance?".
A very inspiring discussion was led by a panel of experts: Mike Barry, Head of Sustainable Business at Mars & Spencer; John Elkington, Executive Chairman of Volans; Alan Knight, Director of Environmental Sustainability at Business in the Community and Chairman of the Global Association of Corporate Sustainability Officers; and Sally Uren, Deputy Chief Executive of Forum for the Future.
Mike highlighted the need to adapt to future markets (such as BRICS markets) as well as to future consumers, who are becoming more and more demanding about the quality of the product they buy. He called for a global policy change in order to bring consistency to those changing markets.
John reminded the audience that the shift towards sustainability was currently taking place within a 50-70 year period, and that it would be completed when all the old generation will retire. He also highlighted that some significant changes were now taking place in businesses, going beyond recycling and CSR: indeed, John made clear that sustainability had a much wider scope and implied a transformational change.
Alan saw the leaders of the sustainability agenda as the stakeholders of a triangle: businesses, governments and citizens, all having different and complementary roles to play. He highlighted citizens' behaviour change as a key element, which can't be completely induced by Government's laws or businesses' offering but which can drive those two other sides of the triangle.
Sally saw the role of pioneer businesses as fundamental to lead change, and the role of governments as stating that pioneers' practice should be the norm. She called for more collaboration and regrouping between those pioneers, in order to be stronger in front of the barriers they face, mainly coming from the financial investment community.
The Q&A session led to a high level debate around the mindset changes of consumers and businesses: while the former seem to increasingly need more than just "buying stuff" to be happy, businesses seem to increasingly have a holistic approach to sustainability, and as such see more of its benefits then its costs (hence why even Exxon Mobil and financial investors are now exploring the issue). So the next sustainability debate's question may well be "how can we continue to benefit from sustainability?".
The transition to a low-carbon economy and the pressure to create and maintain secure sustainable sources of energy mean that many businesses are suddenly faced with unprecedented challenges and opportunities.
This emerging yet highly complex industry is evolving fast, and infrastructure assets offer businesses a wealth of opportunity, as well as challenges. Investment in energy infrastructure will require urgent development of the principal infrastructure divisions, especially gas, electricity and nuclear.
To find out more about this issue, join this year’s RICS Energy Infrastructure Conference, on 2 May 2012 in London. The event will explore the various complexities and challenges the industry presents, providing an in-depth examination of the principal infrastructure divisions. Expert speakers will talk through the delivery of renewables, the developments and commercial opportunities for low carbon energy, the role of gas in the UK energy supply, procurement solutions for nuclear build and how to "power for the future" with the UK energy strategy.
This conference will aim to provide professionals with the necessary technical skills required to provide the right solutions and advice for their company and clients.
The event will be chaired by Tony Bingham, Barrister, Arbitrator, Adjudicator and Mediator at 3 Paper Buildings. Before he was called to the Bar, Tony was a Quantity Surveyor. His practice as a barrister specialises in heavy building construction and civil engineering, both UK and international. The conference's keynote speech will be given by Patrick Erwin, Head of Electricity Markets and Infrastructure Strategy Programme Office at the UK Department for Energy and Climate Change.
As part of its commitment to supporting initiatives in environmental sustainability, RICS recently sponsored a conference presented by the Center for the Sustainable Built Environment at New York University Schack Institute of Real Estate that focused on Sustainable Real Estate. Constantine Kontokosta MRICS PhD is the Founding Director of the Center as well as the conference Chair.
The conference brought together several hundred leaders from private, public, and academic sectors to discuss the emerging debt and equity markets for commercial building energy efficiency, the role of data and information technology in decision making, and the need for performance metrics across multiple disciplines.
Panel discussions at the conference addressed key issues in sustainability, including:
- The growing significance of energy performance and carbon emissions in real estate investment decisions
- The lack of data and performance metrics that hinder the expansion of commercial building retrofit markets
- Emerging jurisdictional requirements that involve the disclosure and benchmarking of building energy consumption, coupled with industry-led initiatives that aim to dramatically expand the availability of data and the potential for performance indicators to inform investment and risk analysis
In addition to RICS, some of the world’s largest influencers on sustainability issues were in attendance at the event, including the U.S. Department of Energy, Cisco Systems, Jones Lang LaSalle, IBM, USGBC, Fannie Mae, National Resources Defense Council, Cushman & Wakefield, and dozens of others.
The ClimCare initiative, coordinated by RICS student member Kaweesi Ronald, has been created against the background of increasing pressures on natural resources in Uganda, and of the need to raise awareness about sustainable practices and environmental responsibility. In Uganda, the effects of climate change are already being experienced (floods, landslides, droughts), leading to increased food insecurity, inflation and intense poverty, especially in rural areas.
An RICS-accredited student association recently created ClimCare in order to mitigate climate change effects as well as to provide climate adaptation tools in Uganda, with a focus on rural areas. According to Kaweesi Ronald, coordinator of the association, "at ClimCare we believe that through simple contributions, the adverse effects of climate change can be prevented. Simple adaptation tools can bring about sustainable development and positive changes". Ongoing ClimCare projects include calling for policy mechanism that would control unsustainable forest management, as well as plans for reforestation and afforestation in the Bukomansiimbi and Mityana districts (respectively at 180km and 40kms from Kampala).
Nyenje Christopher, development analyst at ClimCare, comments: "we are working and will continue to work with other institutions, at national and local levels, in order to achieve our objectives. A primary objective is the creation of national agricultural advisory services and research organisations, which would help distributing drought resistant crops to farmers, developing capacity for healthy tap water, diversifying the types of crops used in Uganda, reducing water losses through water conservation technologies, modernising the agriculture and raising awareness of local populations about climate change, especially in schools. There is also the need for more effective land use techniques, which would help reducing poverty in these areas; community land trusts are a good example ."
ClimCare's social and economic benefits
Kahibire Dorothy, ClimCare's financial controller, highlights that "using savings from members' equity funds has enabled Climcare to provide social and economic benefits, such as raising employment -especially for young people- in climate mitigation policy implementation, providing materials to schools and to other community groups, and providing economic benefits, as sustainable practices generate income for small producers and investment flows for rural communities."
To find out more, email Nathalie Bellanger at nbellanger@rics.org
At Ecobuild this year, RICS presented the foundation to a new methodology to measure embodied carbon (21st March 2012 “Carbon accounting: measuring the carbon during a building’s life”).
Embodied Carbon is the carbon produced during the design and construction phase of a building project.
The paper, produced in partnership with sustainability experts from across construction, details an approach to early stage carbon accounting and acts directly on recommendations set out within the government’s low carbon construction action plan. RICS’ guidance is the first step towards enabling Government and industry agreement of a standard method of measuring embodied carbon.
RICS has opened a consultation for members and interested parties to influence and comment on this important work. The consultation process is easy and can be accessed online.
Deadline for final comments is 27th April 2012.
Find out about RICS' presence at Ecobuild at www.rics.org/ecobuild.
By Gareth Roberts, Director, Sturgis Carbon Profiling LLP
The launch of the RICS Non-domestic Real Estate Climate Change Model next Wednesday makes a big leap forwards in quantifying the financial and carbon impacts of climate change across different asset classes. This research establishes which buildings are most at risk and how these risks change over time, including which locations are most vulnerable.
The key breakthrough with this research has been the use of data from over 60,000 Display Energy Certificate (DEC) which has made identing the effects of building perfomance possible. This data has allowed us to model how peoples behavior in builings really is and not as predicted when only using building physics models.
Our hope with the the pubishing of this research is that it will gives insights about buildings’ future operating costs to aid investment decisions in the UK commercial property sector, helping owners, designers and policy makers target their resources most effectively in combating the chalenge of climate change.
This launch event will be part of the Climate Week programme.
According to Mike Zimmerman, CEO of BuildingIQ, President Obama's Better Buildings Initiative sets quite a few goals for improving energy efficiency in US commercial buildings, which consume over 20 percent of all energy in the United States. By investing in clean energy technologies, the goal of the Initiative is to achieve a 20 percent improvement in energy efficiency by 2020 through cost-effective energy efficiency upgrades.
For Mike, reducing our energy usage in commercial buildings isn't quite as challenging as it may sound. There are technologies available that can help commercial building owners to cut down on their buildings' energy usage and costs.
That being said, it is obvious that the industry as we know it today will evolve and may look much different by 2020: first of all, energy prices will be materially higher but much more dynamic, with peak cost per kwh being a multiple of base load.
Also, it is expected that energy optimization will be an integrated part of a commercial building operator's energy management plan, with operators setting energy strategy and goals rather than having to manage the day-to-day energy systems, and that building operators will have a clear view of energy usage within their buildings in real time.
We could also predict that demand response in 2020 will simply be integrated into tariffs as part of real-time or semi-real-time pricing, and that cloud technology, making everything accessible from anywhere (i.e., computers, tablets, mobile devices, etc), will drive long-term portfolio value as well, with building energy performance as a key factor in buying, leasing and investment decisions (read Mike Zimmerman’s full article).
These are some of the reasons, alongside a smarter energy grid and improved energy management coverage, why in the future professionals should raise their skills in the field of energy management and facilities management. And this is the purpose of RICS’ upcoming Guidance Note The strategic role of facilities management in business performance.
This year RICS Facilities Management will essentially develop a 'Principles Paper' along the lines of our Global Real Estate Agency Standards, as well as a 'Position Paper' outlining what RICS understands FM to be.
The Principles Paper will then be incorporated into a 2012 edition of The strategic role of FM in business performance, and then put into four service line guidance notes of Security, Catering, Cleaning and Building maintenance: strategy, planning and procurement.
By John Tracey-White, RICS International Sustainable Development Advisor
Participatory approaches to planning are now widely promoted as alternatives to traditional top-down planning methods. Early examples of using participatory methods for planning village development started in the 1950s in the UK. During the 1970s and 1980s the application of the participatory techniques shifted to the international arena and became a key component of donor and NGO funded slum upgrading housing schemes and agricultural/rural development projects in English, French and Spanish speaking countries.
While they fell out of favour in the 1980s and 1990s, the methods have recently had something of a renaissance in local community planning and affordable housing projects in developed economies. Now various European countries have developed area based initiatives – the Kvarterloft approach in Denmark being a noteworthy example.
The workshop on the 28th February is an endeavour to gather together practitioners in the field of participatory planning (typically architects, surveyors, planners and social scientist) to compare their recent experiences of using the techniques in Africa, Asia, the Caribbean and mainland Europe. It is the start of a new collaboration between RICS and the Prince’s Foundation, and other potential partners. This builds on the relationship already established between RICS and the Prince’s Foundation with development of the new Oxford University MSc. Course in Sustainable Urban Development.
The collaboration aims to centre around running further joint events focusing on international experience in designing and building communities, particularly addressing climate change, urban migration and poverty alleviation issues. Although the focus is primarily international the techniques are equally applicable to those involved with the 'Big Society' local planning concerns in the UK and other planning initiatives in European countries.
Papers presented at the events and practice material generated from joint research activities will be published as part of RICS Global Sustainability in Practice discussion paper series. A discussion forum has already been set up on LinkedIn, where members of the group can exchange views on the subject.
Today the Natural Resources Defense Council (NRDC) released a new report on how local and state governments can stimulate potentially billions of dollars of private investment, to offset the costs of repairing the US' broken stormwater infrastructure. This is targted at policymakers, investors, and anyone concerned with how municipalities and wastewater utilities will pay for much-needed water infrastructure investments.
As NRDC detailed in previous publications, cities across the US are using green infrastructure - like green roofs, street trees, and porous pavement that soak up urban runoff - to tackle these problems. These smarter water solutions work to clean up local waterways while creating healthier cities.
The report, titled Financing Stormwater Retrofits in Philadelphia and Beyond, uses the City of Brotherly Love as a test case to explore how innovative financing mechanisms, currently being used for energy efficiency retrofits, can be adapted to the stormwater management context. The key is that Philadelphia, like many communities around the country, has a stormwater utility fee structure that calculates charges based on a parcel's impervious area and provides 'credit' - literally, up to a nearly 100% reduction in the fee - for property owners who retrofit to reduce runoff into city sewers, using green infrastructure and related techniques.
With the growing need of smartly adapting our cities so that they are fit for the future generations, RICS has launched today an essay competition for RICS student members as part of Vision for Cities, a global research programme that examines key thinking on the delivery of sustainable cities for 2030 and beyond. Through this competition, RICS aims to promote and showcase innovative thinking by future leaders of the profession.
Questions to answer in the competition include discussing the quotes 'Transforming the use of buildings and behavioural processes are more relevant than technological innovation when aiming to create sustainable built environments.' or 'The positive impacts of globalisation on local economic development are outweighed by their negative effects on income disparity and social exclusion in the modern city.'
By Jillian Carney, RICS Oceania Knowledge Delivery & QLD Manager
Following the RICS Sustainability Demystified session on 15 September 2011, which showcased new RICS guidance on how to value sustainability in buildings, we are pleased to announce the release of the RICS Sustainability and the Valuation of Commercial Property, hot off the press, for your information.
This paper aims to expand upon the RICS Valuation Information Paper 13 - (VIP 13) Sustainability and Commercial Property Valuation, detailing some practical issues and steps that are particularly relevant to property markets in Australia.
The purpose of the paper is to provide practical insights for property professionals, valuers, investors, building owners and their advisers when providing, or receiving, professional advice in connection with the valuation of commercial property (offices).
If you would like to receive the 'RICS Sustainability and Valuation of Commercial Property (Australia)' guide, please email info@rics.org.au.
The value of green buildings
RICS is also introducing a new masterclass, which will educate property owners, valuers, agents and asset managers about the value of sustainability in commercial property.
The first session will be launched in Sydney on 2 March.
For valuers, there has historically been a blank page in their valuation reports where issues of sustainability should now be addressed. For building owners, investors and managers, the decision to introduce sustainable technology and practices is primarily about cost and what value such initiatives add to the leasable space and base building. Future proofing of assets and investor and tenant drivers are key factors.
The masterclass will draw upon global RICS guidance and research and use expert analysis, case studies, course guidance notes, group exercises and discussions to illustrate global best practice.
For more information about the event, please visit www.rics.org/oceaniaevents or call T: +61 (0)2 9216 2333.
A network of Sydney businesses are combating rising energy bills and improving day-to-day workplace operations by going green.
As part of the national CitySwitch Green Office program, legal practice Norton Rose Australia and Knight Frank’s property management office were recently recognised for their office energy efficiency efforts after achieving reductions in their energy use and operational costs as a result of minor technology upgrades and active staff education.
These green business leaders are part of a national network of businesses addressing their carbon impact with the help of the CitySwitch program.
Property managers, Knight Frank, won the NSW CitySwitch Signatory of the Year award for offices under 2,000 metres for its 135 on King office. On receiving the CitySwitch energy efficiency award, facilities manager for 135 on King, Den Jolly said, “If we can do it, anyone can do it."
The tenancy which has just six employees, implemented small and “easy to achieve” upgrades to their lighting, computer settings and water heating system. As part of a staff awareness campaign, the tenancy also used digital power meters to demonstrate that energy savings of 10 per cent could be made by simply turning off CCTV monitors, desktop monitors and computers when not in use.
Norton Rose Australia won the CitySwitch NSW Signatory of the Year Award for offices over 2,000 square metres after reducing carbon pollution by 214 tonnes and saving $42,000 in energy bills over the previous year.
Norton Rose Australia made the energy savings through the installation of sensor and zoned lighting, improvements to desktop computer and server settings and staff awareness, resulting in a 4 star NABERS Energy efficiency rating at their Grosvenor Place tenancy in Sydney.
Sydney Lord Mayor, Clover Moore MP announced the winners at a special CitySwitch function late last year. This annual event showcases program signatories, big and small, who are demonstrating environmental leadership.
The program is currently encouraging small and medium sized enterprises located in City of Sydney to join these leaders and reap the environmental and cost benefits of operating an energy efficient office.
Organisations signing up to the program can apply for a subsidy of up to $1,000 towards the cost of undertaking a baseline NABERS Energy rating. This rating allows organisations to monitor their progress and improve year-on-year.
The CitySwitch program itself is free and provides signatories support and resources in the form of toolkits, case studies and regular information sessions with other dedicated sustainable leaders to help organisations on their journey.
RICS' Sydney tenancy is part of this national network of over 388 tenancies, spread over more than 1.74 million square metres of office space. View the full listing of CitySwitch signatories Australia-wide at the CitySwitch website.
For more information regarding the grants offered to City of Sydney businesses visit the grants page of the CitySwitch website.
New Research has highlighted the significant role that surveyors and valuers have to play in forming the attitudes of UK residential mortgage providers towards domestic solar panels, or solar PV. The survey, commissioned by Community Energy Plus, found that 95% of sampled lenders would rely on surveyors to advise them on the impact of solar panels on residential property value.
Many lenders had concerns about the impact that solar panels could have on the marketability and value of residential property but the research confirmed that the actual impact was as yet unknown. Similar challenges are faced with a range of sustainability technologies and these are dealt with in the recent RICS information paper on ‘Sustainability and Residential Property Value’.
Community Energy Plus is a charity delivering renewable energy, energy efficiency and fuel poverty projects in Cornwall. The research gathered views from more than 25 different high street banks and building societies including four of the ‘top ten’ biggest lenders.
The report provides good news for homeowners with many lenders confirming that they were happy to give consent to householders wanting to install solar panels on their properties. Many lenders were also willing to provide additional borrowing to fund solar panels; however detailed information about systems and installers is often required before lenders can give their consent.
A perhaps surprising finding from the study was that many banks and building societies were willing to accept the leasing of roof-space on mortgaged properties to panel providers. The Feed-in Tariff has seen rapid growth in roof-leasing schemes which provide free or reduced price electricity to homeowners in return for giving panel providers rights to Feed-in Tariff income from the property.
The report makes a number of recommendations to support the wider deployment of domestic solar panels. These range from simple measures such as raising awareness of installer accreditation schemes and publicising the kinds of information that lenders need to approve further borrowing, through to longer term initiatives to increase understanding of how solar panels affect property value.
The research also highlights a lack of mortgage products in the current UK market aimed at helping homeowners who want to install solar panels, with only a single lender offering favourable terms on additional borrowing for solar PV.
The research was conducted on behalf of Community Energy Plus by Tim Hendry, a recent graduate from the University of Exeter’s Energy Policy MSc programme. It was delivered as part of a postgraduate placement with funding from the Cornwall Convergence programme. Tim is actively pursuing a career in Energy Policy and is keen to follow up the recommendations made in the research report with interested parties. He can be contacted further through Linkedin.
The full research report is available for download from the Community Energy Plus website. Community Energy Plus is Cornwall’s leading provider of energy advice services to householders.
By Paul Cutbill MRICS, Chairman of the RICS Residential Survey and Valuation Group and responsible for compliance and professional development at Countrywide Surveying Services
After several significant hikes in the cost of energy last year, and with the long-term prospect of bills continuing to rise, home owners and tenants have good reason to consider the costs of heating and running a home, even at the buying stage. According to the consumer website Moneysupermarket, gas bills have risen by an average of 82% since 2005 – a stark warning of what the future might hold.
Of course, energy efficiency information is readily available by way of EPCs, but the truth is that energy ratings are often ignored by those for whom such energy-related information is intended: buyers and tenants at the point of new occupation.
RICS valuers have also been able to disregard the implications of energy ratings when assessing value, as there has been little, if any, clear evidence that mainstream buyers were willing to pay more for an energy-efficient property than for a less efficient one. Given the growing awareness of rising energy costs, is this about to change?
Certainly, the UK government remains committed to driving up the energy efficiency of the country’s housing stock as a means of reaching its well-publicised carbon-reduction targets. Green Deal legislation due to be enacted in October this year will provide the means of delivering greater energy efficiency to homes, but it is the public as home owners or tenants who must be encouraged to get involved if such legislation is to prove effective.
It is not easy to forget earlier attempts by government to influence the property market, but this time, RICS, the major lenders and other stakeholders have been in consultation with DECC and CLG for more than a year as part of the development process. Under the auspices of the Cabinet Office and DECC, four large-scale field trials are being run by local authorities and businesses to test the uptake of energy-efficient products. The trials and their objectives are documented in a recent report entitled Behaviour Change and Energy Use, which sets the scene for Green Deal legislation to follow.
Having contributed to the development of energy-efficient initiatives, RICS has a clear duty to alert consumers to the potential for energy efficiency to influence value in future, so that dwellings with high efficiency ratings command a premium over those with low ratings.
Read the full article on isurv, the online information service for the surveying profession.