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What is today's blog about?
In this week’s blog, we take a look at the RICS Responsible Business Framework. This is essential reading for RICS APC and AssocRICS candidates in relation to the Sustainability competency, as well as any candidates on the Facilities Management pathway.
You can download a full copy of the Framework here.
What is responsible business?
RICS define responsible business as ‘operating efficiently and responsibly. It meets and exceeds legislation and always considers its impact on people (the workforce, community and society at large) and the environment’.
What is the Responsible Business Framework?
The RICS published the Responsible Business Framework in December 2021, leading on from their Responsible Business Report in 2019.
The Framework is not mandatory guidance, but instead provides best practice guidance on responsible business for organisations of all sizes.
What are the aims of the Framework?
To highlight best practice and provide useful content for the real estate management industry on how it should operate in a more responsible and ethical manner
To influence clients, landlords and owners/occupiers in their thinking, planning and expectations on services required
To provide clarity on the relationship with all stakeholders for improved engagement across the supply chain
To provide a global approach towards embedding environmental, social and governance (ESG) considerations into the management of real estate
To provide clarity on the terminology and definitions for responsible business and ESG
To provide alignment with United Nations Sustainable Development Goals (UNSDGs) and other global reporting frameworks in demonstrating impacts on society and the environment
To highlight the important role that property, and the people and organisations involved in its management, can play in the creation of lasting social value.
What are some of the key takeaways from the Framework?
The Framework is split into three key sections;
Governance considerations
Social considerations
Environmental stewardship
Governance considerations relate to the procedures and practices that companies follow.
Examples of responsible business in this respect include:
Using technology to ensure data is robust, transparent and minimises environmental impacts
Incorporating responsible practices and reporting into commercial and risk management
Supporting clients and the supply chain to address socio-environmental impacts
Drivers, such as these, in an organisation could be mapped as demonstrated below:
Social considerations relate to responsible practices such as:
Promoting diversity and inclusion
Upholding high health & safety standards
Fair pay principles and Living Wage
Fair, equal and unbiased recruitment
Focussing on well-being
Promoting social value
Environmental stewardship, the last section of the Framework, includes responsible practices such as:
Identifying environmental risks and opportunities
Ensuring environmental compliance requirements are met
Collecting environmental data to better manage assets and monitor energy use
Considering energy efficiency in decision making
Sustainable waste management
How can we help?
Don't leave it too late to book your submission feedback and review, APC question pack, e-mock interview or 1-2-1 mentoring. We also provide revision quizzes, revision guides and a CPD Webinar Package.
We offer a range of short and long-term support packages in our eShop, including our popular Monthly Mentoring and Kick Start packages. These can include an RICS APC or AssocRICS Counsellor in certain circumstances.
Head to our blog archive to access even more free CPD and AssocRICS and RICS APC training and support.
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Find out more about our bespoke AssocRICS and RICS APC training and support, before booking your free 15 minute consultation.
Not sure about signing up? Make sure you read what our recent successful candidates have to say in our Testimonials.
Stay tuned for our next blog post to help build a better you.
N.b. Nothing in this article constitutes legal, professional or financial advice.