RICS:More Green and Sustainable Buildings Need to Tackle Urban Warming

RICS Asia Valuation Conference 2011

HONG KONG, June 15, 2011 /PRNewswire-Asia/ -- Good quality green infrastructure can have positive impacts on environment and society, it follows that it can also positively contribute to economic performance. Properties benefitting from established or proposed green infrastructure may show increases to tangible or intangible values. Green infrastructure can also play an important role in reducing some of the impacts of climate change in our urban environments. The impact of urban climate change could be reduced by as much as 2.5°c, by increasing the amount of green space in town and cities, according to an RICS information paper* has published recently (31 May 2011).

Green space in towns and cities is being eroded, as playing fields, gardens and general green space increasingly make way for roads and new development. Removing just ten per cent of the green space from a built-up area could see maximum temperatures increase by as much as 7°c. RICS would like to see the Government, local authorities, land owners and developers create and safeguard existing green spaces, and pay greater attention to the growing problem of urban climate change. In order to allow for this the adoption of green infrastructure strategies, that have long term environmental and economic benefits, should be factored into development plans.

To further facilitate the delivery of this important issue, RICS Asia will host the inaugural RICS Asia Valuation Conference 2011 tomorrow in Beijing, China. The objective of the conference is to highlight the importance of translating sustainability to value by bringing in international and regional perspectives. Three prominent overseas and local keynote speakers will provide experts' views and share insights from international and regional experience. Mr Stephen Williams, Global Advisor of Real Capital Analytics, will address a topic "Tracking Cross-Border Real Estate Capital Flows into and out of Asia". To address the local aspect, Mr Leru Miao, Vice President of China Real Estate Research Association, will speak about the impact of China's 12th 5-year plan on sustainable development in China. The third keynote speaker, Dr Richie Lee, Executive Director of Energy and Sustainability, Asia, CB Richard Ellis China. Dr Lee will focus on the issue about sustainability and green values in property market investment.

Following the three remarkable keynote speakers' presentations, there will be two powerful panel discussions from experts in the related fields.

"Given the current economic volatility worldwide, it has become essential for real estate to embark on sustainable development. The future development of real estate has become a hot topic of discussion for the industry.  As a non-profit academic organization, RICS works towards establishing and maintaining the highest standards of professional conduct, and providing impartial and authoritative advice for the industry and public. This international conference is likely to bring fresh perspectives and ideas to industry professionals," said Mr David Faulkner, Chairman, RICS Asia Valuation Conference Organizing Committee.

Tony Mulhall, RICS Associate Director, commented, "Increasing green space cannot only lower urban temperatures, but can also help prevent flooding, improve air quality, reduce noise and support biodiversity. Furthermore, the addition of vegetation and plant matter to a building's roof can help moderate its internal climate and could have an impact on business running costs."

*Green Infrastructure in Urban Areas

Published on 31 May 2011, the information paper provides members of RICS and their clients with background information on the issues surrounding the delivery and promotion of green infrastructure.

To download the full report, please visit:
http://www.rics.org/site/scripts/download_info.aspx?downloadID=7362&fileID=9714

About RICS & RICS Asia

RICS is the world's leading qualification when it comes to professional standards in land, property and construction.

In a world where more and more people, governments, banks and commercial organisations demand greater certainty of professional standards and ethics, attaining RICS status is the recognised mark of property professionalism.

Over 100 000 property professionals working in the major established and emerging economies of the world have already recognised the importance of securing RICS status by becoming members.

RICS is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity – providing impartial, authoritative advice on key issues affecting businesses and society. RICS is a regulator of both its individual members and firms enabling it to maintain the highest standards and providing the basis for unparalleled client confidence in the sector.

The RICS Asia supports a network of over 11,000 individual professionals across the Asia Pacific region with an objective to help develop the property and construction markets in these countries, by introducing professional standards, best practice and international experience. It promotes RICS and its members as the natural advisors on all property matters. It also ensures that services and career development opportunities are provided to members.

The RICS Asia region covers national associations and local groups locating in Brunei, Malaysia, Singapore, Thailand, The People's Republic of China and the SAR Hong Kong. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Japan, Kiribati, Laos PDR, Macao, Mongolia, Nepal, North Korea, South Korea, Taiwan, The Maldives, The Philippines, Timor East and Vietnam. For more information, please visit: www.ricsasia.org.

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