TIAS, RICS ink MOU for construction, property management sustainability

Construction and property management account for 40% of global carbon emissions.

The Trade and Industry Association (Singapore) (TIAS) and the Royal Institution of Chartered Surveyors (RICS) signed a memorandum of understanding to push for a more sustainable construction and property management.

Under the memo, the two organisations will collaborate to boost awareness of the need for business to “act more sustainably by driving down carbon emissions and ensure that the association adopt the RICS-led standards.

These standards are the International Property Measurement Standards (IPMS) and the International Cost Measurement Standard (ICMS3) which provide a toolkit for professionals to measure buildings consistently and report on carbon, both of which can affect design and construction decisions.

The construction of new property and management of existing buildings account for around 40% of global carbon emissions, the organisations said.

TIAS Vice President of Engagement Kenneth Pan welcomed the “commitment towards driving the carbon emission  down for the national.”

“The MoU enable our members to tap onto RICS’ global standards and we look forward actively in communicating with the business community on the use of ICMS3 and IPMS,” Pan said.

Amara Buyse, head of Public Affairs for RICS in APAC, said the agreement is a significant step in raising awareness and providing tools for the business community in the built and natural environments “to embed sustainable practices into their projects."