3 - Hot Topics Flashcards
What has happened as a result of Grenfell?
Combustible cladding banned in buildings over 18m. Fire Safety Act - external envelope now to form part of risk assessment. Hackett Review and Building Safety Bill.
What was the Hackett Review?
Investigation into the processes of building safety surrounding Grenfell disaster. Made recommendations to go into the new Safety Bill such as: No clear regulator, confusing roles and responsibilities, lack of specific people responsible for certain areas, lack of consultation/consideration of occupiers, information loss between project stages.
Can you tell me about the new Rules of Conduct?
Go live on 2nd February 2022. They focus on: simpler structure, clear examples to support each rule, focus on respect and diversity, focus on data and technology, focus on sustainability.
What is the Bichard Review?
Result of the Levitt review and one of the key recommendations. Independent review of the RICS based on three key requirements from the Governing Council: clarity on RICS purpose, proposals for RICS to become a beacon of best practice, transparency and legitimacy, ensure governance structure and culture are fit for today and can be more easily changed in future.
What is the Harris Debate?
The Harris Debate is organised annually by the RICS and provides a platform to address ethical concerns in the field of surveying and valuation.
It honours Jonathan Harris, a former RICS president known for his contributions to professional development and education.
What was discussed at the Harris Debate 2024?
In 2024, the debate focused on the theme of Ethics in the Age of Artificial Intelligence and its impact on Valuation Practices. The debate explored the ethical implications of incorporating artificial intelligence into valuation and surveying.
What impact will AI have on the construction industry?
AI can assist the estimating process by supporting data collection and processing, enhance site safety through AI-powered cameras, predict maintenance needs for machinery, reduce downtime costs, improve energy efficiency through automation, and carry out repetitive tasks such as bricklaying and welding.
What guidance applies to RICS Members when using Social Media?
The RICS introduced the Guidance Note ‘Use of Social Media: Guidance for Members’. The Guidance note sets out the same standards as stipulated in the RICS Rules of Conduct and reminds members that these do not change whether communicating via social media, face to face or traditional forms of media.
How do you ensure you operate inline with RICS guidance on the use of Social Media?
I use social media in a responsible and professional manner, similar to face-to-face or written communication. I use professional and respectful language and understand the responsibility in representing the RICS. I avoid making posts that are dishonest or could cause offence, as this could undermine public confidence and trust in the profession.
When would the RICS investigate a Social Media post made by one of its members?
An investigation may take place if a social media post is: discriminatory, dishonest, abusive or threatening, likely to cause significant harm, distress or offence to a person, shows a pattern of frequent or large number of concerning communications, ignores previous advice or warnings about concerns.
Please explain your understanding of the RICS Business Plan for 2024?
Within the RICS business plan, I am aware of the following targets: Matrics Expansion into South Asia, Sustainability Leadership, Attracting Diverse Talent, Enhancing Member Engagement, Strengthening Trust.
Can you please explain your understanding of the recent RICS Fee changes?
The RICS has announced a 3.5% increase in professional subscription fees for 2025, marking the first adjustment in five years. A new subscription framework has also been introduced to create a fairer and more regionally equitable system.
Who is the RICS Leadership Team made up of?
The leadership team at RICS includes: Tina Paillet, President of RICS; Nicholas Maclean, Interim Chair of the Governing Council; Richard Collins, Interim Chief Executive Officer; Isobel O’Regan, Interim Chair of the Management Board.
Please explain your understanding of the recent updates to RICS Professional Indemnity Insurance Cover around Fire Safety?
During 2019, fire safety insurance cover was removed from the professional indemnity insurance market following the Grenfell Disaster. The RICS worked with insurers to restrict blanket fire safety exclusions.
What is the RICS doing to improve Diversity & Inclusion?
The RICS has set up ‘Diversity & Inclusion leadership’ which is a knowledge hub allowing the RICS to share ideas on how and why diversity & inclusion is so important to the RICS. This has included initiatives such as: International Women’s Days celebrating the achievement of Women in our profession, Pride 2023: LGBTQ+ equality pledge focusing on the importance of LGBTQ+ representation in the profession, The McGregor-Smith Review – aiming to develop black and ethnic minority talent within the profession.
How does the RICS define Professional Standards vs. Practice Information?
Following the Bichard Review and its recommendations, the RICS has introduced two new definitions for Professional guidance: Professional Standards and Practice Information. Professional Standards set out mandatory requirements for RICS members and regulated firms focusing on competence and ethical behavior. Practice Information provides non-mandatory guidance to advise surveyors in delivering specific services or working in specific areas of practice.
What are the Rules of Conduct?
The rules of conduct are made up of: 1. Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS. 2. Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise. 3. Members and firms must provide good-quality and diligent service. 4. Members and firms must treat others with respect and encourage diversity and inclusion. 5. Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession.
What is your understanding of Rule Number 1?
RICS Members and firms should not allow themselves to be influenced improperly through the acceptance of work referrals, gifts or hospitality. They must identify conflicts of interest and not provide services or advice where these conflicts occur. For example, being friends with a Main Contractor selected to submit a tender would form a conflict of interest.
What impact will the Labour government election have on the Property & Construction Industries?
Election of the Labour government may have the following impacts: House Building Targets – Labour has pledged to build 1.5 million homes over the next parliamentary term, Infrastructure Projects – Significant funding is planned for public infrastructure, creating opportunities for large scale construction projects, Sustainability Focus – Labour has committed to embedding green practices across the industry, Skills Development – Labour plans to address the construction sector’s skill shortages through youth training initiatives.
What impact will the 2024 US Election results have on the Property & Construction Industries?
The US Election Results may have the following impact: Currency fluctuations could affect the attractiveness of UK property to overseas investors, Impact on Interest Rates could influence global financial markets and UK property demand, Supply Chains and Construction may be affected by changes in US trade policy or tariffs, Tech Development & Remote Working could bolster demand for homes in England’s regional cities.
What is your Economic Outlook for the 2025 UK Construction sector?
The UK construction industry experienced a slowdown in 2024 due to rising costs. However, falling inflation and small interest rate cuts may lead to material price reductions entering 2025. A persistent skills shortage remains a challenge, and environmental sustainability will continue to be a priority.
What impact is hybrid working and working from home having on the property sector?
Working from home is significantly impacting both residential and commercial property. There is increased demand for homes with extra space for home offices, and suburban areas are becoming more popular. In commercial real estate, companies are downsizing office footprints and shorter lease arrangements are preferred.
What happened at COP29?
COP29 was held in Baku, Azerbaijan in November 2024 and focused on addressing the climate finance gap through the loss and damage fund. Key takeaways include progress towards a global carbon market and discussions on the New Climate Finance Goal to support developing countries.
What is meant by the term Global Carbon Market?
This refers to an international system that allows the buying and selling of carbon emissions, allowances or credits. It is designed to help reduce global greenhouse gas emissions by putting a price on carbon to incentivise countries, companies, and other entities to innovate and invest in cleaner technologies and help to reduce the global carbon footprint.
Please provide a high-level overview of the 2024 RICS Sustainability Report?
The RICS Sustainability Report 2024 provided a detailed analysis of the current state of sustainability within the built environment sector. Key findings include: identification of an increase in market demand for green buildings however the adoption of sustainable practices remains limited, high upfront costs and insufficient government incentives form significant barriers to widespread implementation of greener building methods, the report highlighted a need for consistent sustainability measurement across projects. Tools like the RICS Whole Life Carbon Assessment (WLCA) standard aim to address this issue by providing a unified framework for assessing and reducing carbon emissions, the RICS emphasises that the level of commitment and action needs to increase substantially to achieve 2050 net-zero targets, RICS continues to play a pivotal role in shaping sustainability policies and standards globally.
Please explain your understanding of the acronym MEES?
MEES stands for Minimum Energy Efficiency Standards. These are regulations in the UK that set minimum energy performance requirements for buildings, specifically for privately rented properties. Under MEES, properties in the private rental sector must meet at least an E rating on their Energy Performance Certificate (EPC) to be legally rented out. If a building is rated lower than an E, landlords are required to improve the energy efficiency of the property before renting it out, unless specific exemptions apply.
Please explain your understanding of the term ‘Carbon Life Cycle’?
Carbon life cycle is a holistic view of the carbon footprint of a building. This considers the carbon impact from material extraction, manufacturing, transportation, construction works, maintenance, repairs or replacement of materials, consumption of energy, carbon use at the end of the building’s life.
Please explain your understanding of the term ‘Carbon Offsetting’?
Carbon offsetting results in a reduction of Green House Gas emissions or an increase in carbon storage. This is usually achieved through land restoration or the planting of trees that can compensate for emissions that occur elsewhere.
Please explain your understanding of Green mortgages?
A mortgage that rewards someone for buying or owning an energy efficient home by offering favourable terms than as standard. This typically results in lower interest rates or receiving cashback when you take out the mortgage.
What is Urban greening factor?
The urban greening factor is a tool that evaluates and measures the amount of urban greening (vegetation cover and planting around buildings) to aid the appropriate planning of greening on future developments. The aim is to increase the amount of green cover around buildings and support its consideration at the design and outset of developments.
