Royal Institution of Chartered Surveyors (RICS)
Climate Impact & Sustainability Data (2018-09, 2020)
Reporting Period: 2018-09
Environmental Metrics
ESG Focus Areas
- Social, economic and environmental sustainability
Climate Goals & Targets
Environmental Challenges
- Increasing complexity in commercial property management requiring a demanding skill set.
- Difficulties in recovering costs of long-term maintenance with shorter leases.
- Uncertainty surrounding tax treatment of sinking funds.
Mitigation Strategies
- Formalizing the Service Charge Code as an RICS professional statement.
- Recommendations for flexible lease clauses and alternative dispute resolution.
- Guidance on sinking funds, reserve funds, and depreciation charges.
Supply Chain Management
Responsible Procurement
- Competitive tendering
- Benchmarking