The Royal Institution for Chartered Surveyors (RICS) has released its annual global sustainability report, which looks at the state of sustainability in the built environment across the world. The report included key insights into the Middle East and Africa, which indicated the rising importance of sustainable property in the region.
In the Middle East and Africa, 64% of respondents identified a price premium linked to green buildings, with the market valuing the greater energy efficiency and reduced long-term energy costs of more sustainable property.
Climate vulnerabilities across the Middle East and Africa also appear to be influencing
regional results. Across the region, more than 40% of contributors state that the resilience of a property to extreme weather and other adverse effects of climate change is an essential or very important factor for occupiers and investors. This share is notably higher than the global average in this category.
The region is disproportionately impacted by the effects of climate change. Analysis by the World Bank suggests that the region is perceived to be one of the most vulnerable to the effects of climate. Impacts, such as high temperatures, extreme weather events, declining water resources, drought and eroding coastal land. These factors likely play a big part in influencing the survey results.
Several Middle East and African nations are taking the initiative with making their built environment sector more sustainable. In October, Expo City Dubai incorporated RICS’ award-winning whole life carbon framework (WLCA) in a strategic agreement with RICS.
In the report, RICS advocates several key policy actions on sustainability for all nations to implement, which are as follows:
- Set evidence-based national targets focusing on decarbonisation of the built environment sector, enhancing resilience and adapting to the changing climate
- Mandate carbon assessments for all built environment projects.
- Provide subsidies and develop incentive schemes that help to drive investment towards green buildings and infrastructure.
- Collaborate with industry, professional bodies and academia to develop relevant programmes to support professional skills and development of all built environment professionals on addressing sustainability challenges.
- Develop national methodologies to measure biodiversity and species richness, and mandate that all new developments result in a net improvement in biodiversity.