NEWS & ANALYSIS FMJ.CO.UK
ASSOCIATION NEWS
DEVELOPING A RESPONSIBLE BUSINESS
FRAMEWORK FOR REAL ESTATE MANAGEMENT
THE FIVE Cs: MY PRIORITIES AS IWFM CHAIR
8 NOVEMBER 2021
COP26 has created a
laser focus on the
impact all of us have
on the planet and particularly for those of us
that design, build and operate within the built
environment.
Whilst reducing our impact on the planet is
fundamental, the broader business responsibility
or sustainable agenda is where many professionals
across Real Estate are now focused. Environmental,
Social and Governance (ESG) issues are all now
crucial elements of owning or operating assets in
the 21st century.
It is this context that the RICS has developed a
‘Responsible Business Framework for real estate
management’. The framework which has been
developed through an expert working group is
being prepared for publication in December and
intends to:
Highlight best practice for operating more
responsibly.
Provide clarity on the importance and impact of
stakeholder engagement.
Provide guidance on embedding ESG principles
into the management and operation of Real
Estate.
Provide clarity on the terminology and
definitions that exist in the field.
Identify alignment with the United Nations
Sustainable Development Goals (UNSDG’s) and
other global reporting frameworks.
Highlight the ever-increasing role that property
and the people and organisations involved in its
management can play in creating lasting social
value.
The framework compliments much of the work
already done by the RICS on the International
Building Operating Standard (IBOS) whilst also
dovetailing with the new rules of conduct.
The ‘green premium’ may be one driver for
ESG but it is clear that the increasingly stringent
regulatory and legislative frameworks are also
a driver. Investment decisions are also now
influenced by changing social attitudes to work
and the workplace whereby employees, end
users and tenants are more likely to consider the
sustainable impact of their workplace than ever
before.
Implementing and embedding truly responsible
business practises starts with Governance, the
ESG imperative is completely entwined within an
organisations purpose and strategic direction so
this has to be led by the executive. Governance
is all about strategy setting, establishing
robust targets, a deep understanding of your
stakeholders coupled with complete transparency
and disclosure. The disclosure of non-financial
information is becoming increasingly framed by
legislation and will only increase in complexity.
From a Social perspective, responsible
businesses recognise the value of their operations
beyond solely financial metrics. Linking back to
the UNSDG’s responsible businesses support good
health and wellbeing, gender quality, decent work
for all and reduced inequalities. A sustainable
approach to business recognises the impact an
organisation can have on its local community and
the Social value that is generated by oƒ ering access
to good employment opportunities and prospects.
And finally, it is widely accepted that protecting
our environment is essential and the framework
oƒ ers guidance on all aspects of environmental
stewardship.
The principles of ESG must now sit at the heart
of all organisations and as professionals it is
our responsibility to recognise, develop and
embed all of the principles that will ensure our
activities support
the sustainable
development of our
communities.
A month ago, I was humbled to take on the role
of Chair a’ er the successful IWFM-era tenures
of Martin G Bell and Steve Roots. Just as they
both had to manage the Institute through challenging
circumstances and considerable change - including
prolonged Brexit uncertainty, COVID-19 and the
transformation from BIFM to IWFM - I know that
the coming months will be crucial in navigating the
Institute through the eŠ ects of the pandemic, so that
we can become stronger than ever before.
The future successes we achieve will undoubtedly owe some debt to our
former Chairs, who helped us through the turbulence of recent years with
such skill, focus and commitment. Building on Martin and Steve’s legacies and
providing a sense of continuity is critical to IWFM’s immediate future, I believe;
hence ‘continuity’ is the first of the ‘five Cs’ that will form my priorities in the
coming two years. The other four are community, communication, Chartership,
and character.
The positive impact of IWFM’s ‘community’ of professionals, who volunteer
to support their peers through our Regions and Special Interest Groups, should
never be underestimated. It is therefore critical that their relationship with IWFM
is as strong as possible. We have an ongoing Community Review which is looking
at how IWFM and our volunteers work more collaboratively together, through
more eƒ ective communication and engagement. I am 100 per cent committed to
supporting the recommendations from the Review and to do my best to facilitate
improvements.
With regards to ‘communication’, I have worked hard over the years to
develop a high profile within the profession, which I have used to challenge and
encourage my peers. I will build on my profile by utilising my platform as Chair
to amplify my engagement with workplace and facilities professionals, whether
they are members of IWFM or not.
As many of you will be aware, the Institute is currently pursuing ‘Chartership’.
Our progress towards that goal has been hindered by the pandemic, but the
desire to achieve it remains as strong as ever. I am very keen to support IWFM
in making tangible progress, particularly on the training and professional
development side.
In terms of ‘character’, I have been guided by my Christian faith throughout my
career. Honesty and integrity are two personal values that will be crucial in my
role as Chair, but treating others with openness, kindness and respect will be
equally important.
That’s all of the ‘five Cs’, but I could almost add a sixth because a key focus of
mine will be resuming IWFM’s Career of Choice campaign now that volunteers
can visit schools again. Just before the pandemic, I volunteered to run two
workshops at a school near to where I live, and I want to encourage others to take
part and benefit from the rewarding experience and most importantly to plant
a seed of a fulfilling career in workplace and facilities
management with these young people. This will also
be a crucial means to achieve greater diversity and
inclusion in our profession.
Rory Murphy – Chair of RICS
Responsible Business working group
Mark Whittaker CIWFM, IWFM Chair