RICS Draft Update to the Global Red Book

Red Book Global Update 2022 - Proposed Changes

VPS 2 Inspection

VPS 2 Inspection

1.5 VPGA 8 provides detailed commentary on matters evident or to be considered during inspection of real estate, including those matters that fall within the general heading of 'sustainability and ESG matters'. Such factors are commonly important in terms of market and societal perception and influence, and valuers should have proper regard to their relevance and significance in relation to individual valuation assignments.

2.3 The valuer must obtain from the client information of current or anticipated changes in rental and other relevant income from investment properties, and any material changes to the non-physical attributes of each property, such as other lease terms, planning consents, statutory notices and so on. The valuer must also consider whether any sustainability and ESG factors that affect the valuation are likely to have altered.

3.3 Valuers should collect and record appropriate and sufficient sustainability and ESG data for the valuation assignment.