Hot Topics (2023) - COP26 Flashcards

1
Q

What is COP26?

A

COP26 is the most recent annual UN climate change conference.

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2
Q

What does COP Stand for?

A

COP stands for Conference of the Parties

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3
Q

Who attends COP Summits?

A

The summits are attended by the countries that signed the United Nations Framework
Convention on Climate Change (UNFCCC) – a treaty that came into force in 1994.

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4
Q

What critical moment for commitments and actions happened at COP 26?

A

Richer nations had failed to raise the $100bn annual climate funding they had promised to vulnerable countries and the gap to staying below 1.5C still looms.

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5
Q

What was agreed for the first time at COP26?

A

For the first time at a COP conference there was an explicit plan to reduce use of coal which is responsible for 40% of annual CO2 emissions.

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6
Q

What commitment was made by India and China at COP26?

A

There was a commitment to ‘phase down’ rather than ‘phase out’ coal after a late intervention by China and India.

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7
Q

What agreement pledge was made at COP26?

A

The agreement pledged to significantly increase money to help developing countries cope with the effects of climate change and make the switch to clean energy.

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8
Q

What prospect was suggested after the pledge to provide $100bn was missed?

A

There’s was also the prospect of a trillion dollar a year fund from 2025 onwards after a previous pledge
for richer countries to provide $100bn (£72bn) a year by 2020 was missed.

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9
Q

Which countries did not agree with the statement ‘COP26 agreement represented the “start of a breakthrough”’

A

While some observers say the COP26 agreement represented the “start of a breakthrough”, some African and Latin American countries felt not enough progress was made.

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10
Q

How does COP relate to the Paris Agreement?

A

At the COP 21 meeting in Paris in 2015, the Paris Agreement was formed.

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11
Q

What did the Parties agree to pursue during the COP meetings?

A

During the COP Meeting, the parties agreed to pursue efforts to prevent temperatures rising more than
1.5C above pre-industrial levels to avoid the most dangerous impacts of global warming.

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12
Q

How do the COP meetings link to the original Paris Agreement?

A

Conference of the Parties meetings discusses how each nation is progressing against the original Paris Agreement.

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13
Q

What did COP27 highlight?

A

Highlighted the countries mostly affected by ‘loss and damage’ of extreme weather.

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14
Q

Where was COP27 hosted?

A

Sharm El Sheikh, Egypt.

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15
Q

What was agreed for the first time after counties still haven’t delivered the required $100bn per year?

A

A new loss and damage fund.

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16
Q

What was a main focus of COP27?

A

A large focus on paying for the damage caused by climate change.

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17
Q

What did many delegates think should have been focused on at COP27?

A

Many delegates thought that there was not enough emphasis on mitigation strategies.

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18
Q

What were Key targets for many that did not make it into the agreed text from COP27?

A

Key targets such as ensuring that carbon emissions peak before 2025 and the phasedown of fossil fuels
did not form part of the agreed text which was seen by many leaders as a failure.

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19
Q

Are there any impending changes to minimum energy efficiency standards (EPC)?

A

The government has recently proposed changes to the EPC requirements for commercial property and buy to let properties which are due to take effect from 2025.

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20
Q

Are there any impending changes to minimum energy efficiency standards (rating requirements)?

A

Currently the minimum required energy efficiency rating for domestic rental property requires an E rating however this is expected to increase to a C rating or above from 2025.

21
Q

What is a Green Mortgage?

A

A mortgage that rewards someone for buying or owning an energy efficient home by offering more favourable terms compared to standard.

22
Q

How do Green Mortgages impact mortgages rates?

A

This typically result in lower interest rates or receiving cashback when you take out the mortgage.

23
Q

What is Urban Greening Factor?

A

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.

24
Q

What is the aim of Urban Green Factor?

A

The aim is to increase the amount of green cover around buildings and support its consideration at the design and outset of developments.

25
Q

What can Councils develop in line with Urban Greening Factor, what is the plan for London?

A

Councils can develop their own targets with the plan for London being a target score of 0.4 for residential developments and 0.3 for commercial developments.

26
Q

What does ICMS3 stand for?

A

ICSM stands for the International Cost Management Standard.

27
Q

What does ICMS3 provide?

A

A framework for cost and carbon management in construction from concept to completion.

28
Q

What does the ICMS3 framework provide?

A

The framework provides a format for defining, measuring, recording and presenting life cycle costs and
carbon emissions associated with construction projects and aims to decarbonise them in the most cost-effective way.

29
Q

What are the aims of the RICS futures report?

A

The futures report aims to ensure that the surveying profession is ready to act in the publics interests in
addressing global challenges.

30
Q

When was the RICS futures report launched?

A

2015

31
Q

What key trends were highlighted in the first future report?

A

Highlighted key trends such as urbanisation, the disruption of big data and technology on the sector and the climate crisis as presenting key challenges to the property and construction industries.

32
Q

What have RICS done since 2015 through the futures report?

A

RICS have analysed these trends by engaging with the profession to keep its members best informed on how to address these key challenges.

33
Q

What are the highlighted findings in the 2020 futures report?

A

o Construction produces the second largest amounts of data behind financial services however it
is estimated that 95% of this is currently wasted. The RICS is setting up an innovation and
technology hub to provide a centre of expertise on how data can be put to good use.
o The rapid urbanisation in China was also highlighted where formation of mega-cities is creating
key challenges. The amount of land classed as urban has doubled since 2000 resulting in
polluted, congested and expensive areas. The RICS aims to encourages it members working in
these regions to adopt a more sustainable approach to the development of these areas through
utilsation of outer urban areas.
o The rapid increase in the use of drones within the industry was also highlighted as presenting
key challenges in terms of compliance issues for surveyors taking into account current and
emerging regulatory trends, national and international legislation standards. The RICS has
developed online courses to support surveyors in this area to ensure the technology is being
utilised efficiently, safely and legally.

34
Q

When and who commissioned the Levitt Report?

A

The Levitt Report was commissioned by the RICS following a Treasury management audit in 2018.

35
Q

Prior to the Treasury Management Audit in 2018 what did RICS need to do?

A

RICS had to extend its overdraft facility by circa £3m due to inaccurate cashflow forecasting.

36
Q

What did the Treasury Management Audit of 2018 offer?

A

A ‘no assurance verdict’ on RICS internal financial control procedures and following this the Levitt report was commissioned as an independent review.

37
Q

What did the conclusion of a the Levitt Report eluded to?

A

To an internal power struggle due to its two board structure made up of a Management Board and Executive Board.

38
Q

What were some of the recommendations RICS accepted following the Levitt Report?

A

o The RICS Governing Council are to have more oversight over internal dealings of the RICS.
o The RICS Governing Council are to be briefed by the Management Board as opposed to a single CEO.
o The RICS Governing Council are to oversee executive management bonuses.
o The report called for greater transparency as the CEO could have involved the management board in order to rectify the treasury issues.
o No evidence of improper or illegal conduct was discovered.

39
Q

What are the aims of inclusive design?

A

Inclusive design aims to ensure that the differences in the way people use the built and natural environment can be accommodated for through dignified, equal and intuitive use by everyone.

40
Q

Who’s responsible for inclusive design?

A

Inclusive design is the responsibility of everyone who works in the built environment: planners, those who commission new buildings and places, access consultants, designers, architects, engineers, surveyors, property owners and facilities managers.

41
Q

What did Danny Medcalf FRICS and RICS RICS Trainer for Rules of Conduct, Ethics and Professional Practice
advised?

A

o “Whether it is a building, a car park, a football stadium, or any other part of the built environment, the key thing is that the space must promote intuitive and inclusive use,”
o “This means it has to be both welcoming and easy for people to use, regardless of their age, status, gender, physical or mental ability and all other individual characteristics.”

42
Q

When were the RICS Professional Indemnity Insurance Requirements updated?

A

The requirements for professional indemnity insurance were updated following issue of the UK Professional indemnity insurance requirements Version 9 with effect from 1st April 2022.

43
Q

What were the new requirements introduced in the updated Professional Indemnity Insurance?

A

The new requirements introduced a change to the maximum uninsured excess of Professional indemnity insurance.

44
Q

What do the new RICS Professional Indemnity Insurance requirements mean in the case of larger companies?

A

This means that for larger companies with a turnover in excess of £10m, there is no maximum limit of uninsured excess.

45
Q

What do the new RICS Professional Indemnity Insurance requirements mean in the case of companies with a turn over of less than £10m?

A

Whereas for companies with a turnover of less than £10m, the maximum uninsured excess is the greater of £10,000 or 2.5% of the insured sum.

46
Q

What were the previous requirements for Professional Indemnity
Insurance based on?

A

The previous requirements were based on the level of indemnity cover provided.

47
Q

What did the previous requirements for Professional Indemnity Insurance mean for the uninsured excess?

A

Previous requirements meant that indemnity cover of £500k or less the maximum excess was the greater of £10,000 or 2.5% of the insured sum.

48
Q

What were the levels for Indemnity cover in the previous requirements for Professional Indemnity
Insurance?

A

For levels of indemnity cover over £500k, the maximum excess was 2.5% of the insured sum.

49
Q

What do the new RICS Professional Indemnity Insurance Requirements mean for the previous requirements?

A

The previous requirements have now been overhauled.