Sustainability

Question 1

Tell me about the definition of sustainability and how it attempts to balance multiple objectives.

Answer 1

• the ability to meet our own needs without prejudicing the ability of future generations to meet their own needs.’
• Brundtland Report 1987

Question 2

Tell me about Climate Change Act 2008

Answer 2

• legal target for UK net zero

2050

Question 3

Energy Act 2011

Answer 3

3 objectives:

• investment in energy efficiency;
• enhance energy security;
• investment in low carbon energy

MEES

Question 4

Building regulations Part L changes

Answer 4

• require 25% improvement compared to 2006 regulations

- Future home standards

Question 5

Tell me about the UK’s 2050 net zero carbon target as recommended by the Climate Change Committee.

Answer 5

• net-zero greenhouse gas 2050.

- commitment by signing Paris Agreement

Question 6

Tell me about EPCs and Minimum Energy Efficiency Standards.

Answer 6

• MEES 2018 - applies to private rented residential and non-domestic properties.
• From 2018 cannot grant a tenancy to new or existing tenants with an EPC rating of F and G
• April 2020 landlords will not be able to continue letting the property.
• landlords must pay to EPC E.
• spending cap of £3,500

Question 7

Tell me about BREEAM

Answer 7

• BRE’s Environmental Assessment Method (BREEAM)
• standardised assessment method for non-domestic new buildings or major refurbishments.
• % rating

Question 8

Tell me about BOPAS

Answer 8

• Build Offsite Property Assurance Scheme
• a risk based evaluation which demonstrates that homes built from non-traditional methods and materials will last 60 years.

Question 9

Tell me about RICS Sustainability Action Agenda.

Answer 9

• Part of RICS 2020 Futures Report
• PRACTICAL SOLUTIONS - future change
• BUILDING CARBON DATABASE - to benchmark designs

Question 10

Building regs 2021 update?

Answer 10

Part L - Conservation of fuel and power in NB homes

Reduce emissions by 31%

2025 future homes standard

Question 11

Talk me through the domestic energy assessment you carried out.

Answer 11

• Completed using RdSAP software
• Inputted data included wall construction thickness, roof, insulation, windows, doors, boilers, TRV etc
• Drew a floorplan
• Software creates the EPC rating and recommendations

Question 12

What is the ‘heat loss perimeter’?

Answer 12

• The total length of wall that is exposed for each storey

Question 13

How did you determine the level of insulation?

Answer 13

• Measured with a ruler

Question 14

How did you input the data?

Answer 14

• Ipad

- Rdsap software

Question 15

What recommendations for the EPC?

Answer 15

• Installation of cavity wall insulation
• Energy effiecint lightbulbs
• TRVs

Question 16

Talk me through your research into recent flood events in the UK.

Answer 16

• Researched flood events using ‘Flood List’ website
• Collated the flood events
• Contacted the area valuer closest to each location

Question 17

For which locations did you obtain event flood data?

Answer 17

• Various including Northern England, East Midlands, Scotland, North West, South West, Wales, South east

Question 18

How did the flood events impact on value?

Answer 18

• Linked to type/severity of flood
• North West – impact on value due to works required andincreased risk of flood
• Other events more isolated and negligible impact on value

Question 19

How was the data used by upper management?

Answer 19

• Used to assess the impact on value
• Assess whether current policies were strict enough
• Preliminary research for CBES (Climate Biennial Exploratory Scenario)
• CBES - explore the vulnerability of current business models to future climate policy pathways and the associated changes in global warming

Question 20

VPGA 8 - need to read and summarise

Answer 20

Key question - extent to which the factors identified affect value

• assess extent the property meets the sustainability and ESG criteria - likelihood of these impacting on value,

Question 21

Reb Book Global 2022 update

Answer 21

Jan 2022

Emphasising agreeing clear terms of engagement

PS 1 - Red Book compliance is binary. There is no such thing as quasi or partial Red Book valuation.

Requiring detailed commentary on sustainability and ESG matters

Question 22

What is The Future Homes Standard​?

Answer 22

• Due 2025​
• require new homes to be ‘zero carbon ready’
• homes will produce at least 75% less carbon emissions than what’s currently allowed
• achieved by electrical heating instead of gas boilers​
• heat pump and solar photovoltaic (PV) systems

Question 23

What is RICS Sustainability Report 2021?

Answer 23

• Sought the opinions of over 4,000 professionals on sustainability issues​
• Results indicate industry is making progress, but not at the rate needed to meet climate obligations.​
• evidence of an emerging rent and price premium for green buildings, though a relatively small share report value uplifts exceeding 10%.​
• Need for a global standard on carbon measurement.​

Question 24

ESG definition

Answer 24

Environmental, social and governance

framework for assessing the impact of the sustainability and ethical practices of a company

+ on its financial performance and operations.

Question 25

RICS action agenda

Answer 25

“RICS’ strategic response is focused on three key areas –

data and technology, talent and skills, and sustainability.